Private Fund

Bitwise DeFi Crypto Index Fund

The Bitwise DeFi Crypto Index Fund is a simple and secure way to gain diversified exposure to one of the fastest-growing segments of the crypto ecosystem. The Fund seeks to track an index of the largest decentralized finance (“DeFi”) crypto assets, a portfolio of protocol tokens that aspire to fundamentally disrupt large parts of the legacy financial ecosystem. Assets are screened and monitored for certain risks, weighted by market capitalization, and rebalanced monthly. Assets are held in custody with a regulated, third-party custodian.

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Please see additional fund-specific disclosures in the Fact Sheet.

Returns

As of: October 1, 2022 8:00 PM UTC

Estimated NAV‡: $1.76

1 Month
3 Months
YTD
12 Months
Since
Inception†
Bitwise DeFi Crypto Index Fund *
-5.4%
13.5%
-72.7%
-78.1%
-82.4%
Bitwise DeFi Index **
-4.5%
15.2%
-71.7%
-77.3%
-80.9%

* Fund returns are calculated net of expenses. The Fund is subject to a 2.5% expense ratio that includes the management fee, custody charges for holding the fund’s assets charged by the custodian, and customary fees and expenses of the fund administrator and auditor.

** Performance of an index is not illustrative of any particular investment. It is not possible to invest directly in an index. Index performance does not include the fees and expenses that are charged by the Fund. Past performance is not indicative of future performance. Please refer to additional important disclosures here.

 Bitwise DeFi Crypto Index Fund inception date: February 16, 2021.

‡ Estimated NAV as of October 1, 2022 8:00 PM UTC; non-GAAP, unaudited.

Fund Holdings*

As of: October 1, 2022 8:00 PM UTC

Name
Weight
Market Cap
Price
Change (24hr)
UniswapUniswap
53.1%
$4,879,817,153
$6.47
1.8%
AaveAave
11.3%
$1,049,275,994
$74.40
0.1%
MakerMaker
7.3%
$673,880,911
$747.67
-0.2%
Lido DAOLido DAO
5.2%
$475,598,743
$1.52
-3.2%
CurveCurve
5.1%
$473,980,112
$0.89
-3.8%
CompoundCompound
4.8%
$444,715,096
$61.20
0.3%
LoopringLoopring
3.9%
$366,310,104
$0.29
-0.6%
Convex FinanceConvex Finance
3.5%
$325,137,452
$4.80
-4.0%
yearn.financeyearn.finance
3.2%
$295,855,480
$8,075.16
-0.3%
0x0x
2.5%
$227,249,634
$0.27
0.4%

* After monthly Index rebalances, there may be a delay in portfolio constituent changes being reflected here.

Index

Index

The Bitwise Decentralized Finance Crypto Index

Index Methodology

See methodology here

Index Rebalance

Monthly, on the last business day of each month

Index Eligibility Criteria

Market cap, trade volume, custody support, exchange availability, security vulnerabilities, exploit history and risks, development community, risk of being deemed security, and more are considered. See methodology for full description.

DeFi Advisory Council

Ben Forman, Scott Lewis, Michael Anderson, Aleks Larsen, and Avichal Garg

Key Facts

Minimum Investment
Subscriptions

Weekly, on Tuesday and Thursday

Redemptions

Weekly, on Wednesday*

Asset Class

Cryptocurrency

Investor Qualifications

Open to Accredited Investors as defined in Regulation D of the U.S. Securities Act of 1933

* Requires a two-day notice period. For the first 12 months, redemptions may incur a 3% early withdrawal fee. No withdrawal fee after 12 months.

Fees and Expenses

Expense Ratio
Performance Fee

0%

* Expense Ratio includes the management fee, custody charges for holding the fund’s assets charged by the custodian, and customary fees and expenses of the fund administrator and auditor.

Details

Attorney

Wilson Sonsini Goodrich & Rosati

Administrator

Theorem Fund Services

Audit

WithumSmith+Brown, PC

Tax

Cohen & Company

Custodian

Anchorage Digital Bank

Sponsor

Bitwise Investment Advisers, LLC

Offer Summary

Ownership units offered under Regulation D / 506 (c)

Taxation

The fund intends to be treated as a pass-through partnership for tax purposes. K-1s are prepared for investors.

Contributions

U.S. bank wires

Become an investor in the Bitwise DeFi Crypto Index Fund today

The Bitwise DeFi Crypto Index Fund is a simple and secure way to gain diversified exposure to one of the fastest-growing and most exciting parts of the crypto ecosystem. The Fund seeks to track an index of the largest decentralized finance (“DeFi”) crypto assets, a portfolio of protocol tokens that aspire to fundamentally disrupt large parts of the legacy financial ecosystem. It is currently limited to accredited investors, with a $25,000 minimum investment.