Bitwise Crypto Index Committee Meeting
July 30, 2021
Standard Monthly Meeting – July 2021
Bitwise Crypto Index Committee Meeting
July 28, 2021
9:00 – 9:00 P.M. PT
Reason for Meeting:
Standard Monthly Meeting
Matt Hougan (Chair), Hunter Horsley (Member), David Lawant (Member)
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 4: Adjournment
The Chairman adjourned the meeting.
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