We're here to help

Every investor is unique, so let’s connect one-on-one.
Share a few details below and one of our specialists will reach out shortly.

Please include me on future Bitwise communications about new fund launches, timely market updates, key company announcements, and more.

Bitwise Appoints Teddy Fusaro President

San Francisco
January 29, 2021

Veteran of pioneering ETF issuers promoted from chief operating officer to president as Bitwise enters new phase of growth.

Teddy Fusaro (1).png

SAN FRANCISCO – JAN. 29, 2021 – Bitwise Asset Management, a leading crypto asset manager, announced today that it has promoted Paul “Teddy” Fusaro to be president of the fast-growing firm. Fusaro, who joined Bitwise in 2018, was previously the firm’s chief operating officer.

The move comes amid a period of rapid growth for Bitwise. The last six months has seen assets under management (“AUM”) increase more than 7x to over $700 million, with record inflows across the Bitwise 10 Crypto Index Fund (OTCQX: BITW), the Bitwise Bitcoin Fund, and the Bitwise Ethereum Fund.

“Teddy has been an exceptional executive for Bitwise, and the whole team is excited for him to take on the president role,” said Hunter Horsley, Bitwise co-founder and CEO. “Teddy has the uniquely relevant experience of having helped grow multiple pioneering alternatives ETF issuers into multibillion-dollar franchises. As we look to Bitwise’s future, we’re confident his leadership will serve our firm, our clients, and our partners.”

Bitwise, currently a team of 13, is expanding its team rapidly, with several open roles across portfolio management, engineering, investor relations, sales, and research.

Before joining Bitwise, Teddy was senior vice president for New York Life & Mainstay Investments, where he was responsible for all facets of ETF implementation. He was previously senior vice president and head of portfolio management, capital markets and trading for IndexIQ, a pioneer in developing alternatives ETFs that was acquired by New York Life in 2015. Before that, Teddy was portfolio manager and co-head of trading at Direxion Investments, a provider of nontraditional ETFs and alternative mutual funds. He began his career as an analyst at Goldman Sachs.

About Bitwise Asset Management

Bitwise Asset Management is a leading provider of index and beta crypto funds. Based in San Francisco, Bitwise’s team combines expertise in technology with decades of experience in traditional asset management and indexing—coming from firms including Facebook, Google, Wealthfront, BlackRock, Fidelity, Deutsche Bank, IndexIQ, and ETF.com. Bitwise is backed by leading institutional investors and asset management executives, and is a frequent commentator on crypto in the press. It has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg, The Wall Street Journal, The New York Times, and many other leading publications. The firm is a trusted partner to financial advisors, RIAs, multifamily offices, hedge funds, and other professional investors as they navigate the crypto space. For more information, visit: www.bitwiseinvestments.com.

Disclosure

Forward-Looking Statements: This communication includes forward-looking statements. All statements other than statements of historical information provided herein are forward-looking and may contain information about known uncertainties. Some of these forward-looking statements can be identified by the use of forward-looking terminology such as “believes,” “should,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” and “anticipates” and the negative thereof and other variations thereof and comparable terminology, and by discussions of strategy, plans, intentions, and unrealized investment results. These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this communication, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. We caution the reader that actual results could differ materially from those expected, depending on the outcome of certain factors, including, without limitation, regulatory developments. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date hereof. Past performance is not a guarantee of future results.

This press release is neither an offer to sell nor a solicitation for an offer to buy Interests in any Fund. Any such offer or solicitation will be made solely through definitive offering documents, identified as such, which will contain information about each fund’s investment objectives, terms and conditions of an investment, and may also describe risks and tax information related to an investment therein, and which qualifies in its entirety the information set forth in this press release. Prospective investors must not construe the contents of this document as legal, tax, investment, or other advice. Each prospective investor is urged to consult with its own advisers with respect to legal, tax, regulatory, financial, accounting, and similar consequences of investing in any Fund. The Units and the Shares (the “Interests”) of the Funds have not been registered under the Securities Act of 1933 (“the Securities Act”), the securities laws of any state, or the securities laws of any other jurisdiction, nor is such registration contemplated. The Interests will be and have been offered and sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made. The offer and sale of the Interests have not been registered with or approved or disapproved by the Securities and Exchange Commission (the “SEC”) or the securities commission or regulatory authority of any state or foreign jurisdiction. The Funds mentioned herein are not registered as investment companies under the Investment Company Act of 1940, as amended, and Bitwise believes that such registration is not required. Bitwise is not registered as an Investment Adviser under the Investment Advisers Act of 1940 (the “Advisers Act”), and is not registered as a Commodity Pool Operator or Commodity Trading Adviser under the Commodity Exchange Act (the “Commodity Exchange Act”).

The Shares of Funds that are publicly quoted on the OTCQX Best Market are Shares that have become “unrestricted” under Rule 144 of the Securities Act one year and a day subsequent to the date that the Shares were originally issued (although Shares held by affiliates and insiders will be subject to additional restrictions on resales, including restrictions on the number of Shares that may be resold within any three-month period). Shares that have become unrestricted may be quoted on the OTCQX Best Market and may be purchased and sold throughout the trading day through any brokerage account with access to such markets.

No Advice on Investment; Risk of Loss: Prior to making any investment decision in respect of any Fund or Shares of any Fund, each investor must undertake its own independent examination and investigation of the Fund, including the merits and risks involved in an investment in the Fund or Shares, and must base its investment decision—including a determination whether Shares would be a suitable investment for the investor—on such examination and investigation, and must not rely on Bitwise or the Funds in making such investment decision. Prospective investors must not construe the contents of this document as legal, tax, investment, or other advice. Each prospective investor is urged to consult with its own advisors with respect to legal, tax, regulatory, financial, accounting, and similar consequences of investing in any Fund, the suitability of the investment for such investor, and other relevant matters concerning an investment in the Fund. This press release contains limited information regarding the terms of the Fund. The summary set forth on this document does not purport to be complete, and is qualified in its entirety by reference to the definitive offering documents relating to each Fund and/or in each case, if available in addition, the Fund’s Annual Report or Information Statement and Quarterly Reports, which can be found on www.otcmarkets.com for the Bitwise 10 Crypto Index Fund (Symbol: BITW). Do not place undue reliance on this press release.

Information May Change and Be Inaccurate, Incomplete, or Outdated: The information in this document is for discussion purposes only, and no representations or warranties are given or implied. All of the information presented herein is subject to change without notice.

For More Information

[email protected]

www.bitwiseinvestments.com

To request an interview or for further information about Bitwise, we ask that members of the press please contact:

Frank Taylor/Ryan Dicovitsky
Dukas Linden Public Relations
[email protected]

Author
Bitwise Asset Management

Stay in the know

Stay abreast of the latest news, insights, and trends in crypto.