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Bitwise Crypto Index Committee Meeting
July 30, 2021

San Francisco
August 02, 2021

Standard Monthly Meeting – July 2021

Committee Meeting 3

Bitwise Crypto Index Committee Meeting


July 28, 2021


9:00 – 9:00 P.M. PT

Reason for Meeting:

Standard Monthly Meeting

In Attendance:

Matt Hougan (Chair), Hunter Horsley (Member), David Lawant (Member)

Meeting Notes

Item 1: Review and Verify All Data Sources for Uptime, Accuracy, and Robustness


The Committee will discuss if there are any issues with the uptime, accuracy, or robustness of our data sources. Discussion: The Committee found that all data sources are functioning appropriately.

Item 2: Review and Approve All Methodological Decisions That Require Judgment, or Any Adjustments to the Methodology


The Committee will discuss and review any recent methodological implementation decisions that required judgment, as well as any known upcoming decisions.

Discussion 1: Clarification of Rule III.B.i.g in the Bitwise Crypto Index Methodology


The Committee voted unanimously to clarify that all three indexes are exempt from rules III.B.i.f and III.B.i.g of the Bitwise Crypto Index methodology.

Item 3: Developments Impacting the Market and/or Individual Bitwise Crypto Index Constituents


The Committee will discuss significant new and/or pending developments surrounding either the cryptomarket in general or any Bitwise Crypto Index constituent specifically, and consider whether they raise any concerns or issues for inclusion in the index.

Discussion 1: The Eligibility of Synthetix (SNX) and UMA (UMA)


The Committee members voted unanimously that Synthetix (SNX) and UMA (UMA) have become ineligible for the Bitwise Crypto Indexes pursuant to rule III.B.i.g (“undue regulatory risk”) on the basis of present knowable facts and circumstances. Unless exempted, SNX and UMA will be removed from the Bitwise Crypto Indexes as of 4pm ET on July 29, 2021. This evaluation will be revisited at routine monthly index sessions.

Item 4Adjournment

The Chairman adjourned the meeting.

Important Disclosures

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The information set forth above does not purport to be complete and is qualified in its entirety by reference to the definitive offering documents relating to any Fund. Do not place undue reliance on this information. The shares of the Bitwise Funds have not been registered under the Securities Act of 1933, the securities laws of any state, or the securities laws of any other jurisdiction, nor is such registration contemplated. The shares also have not been approved or disapproved by the Securities and Exchange Commission (the “SEC”) and will be 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.

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Bitwise Asset Management

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