Advisor Letters

Crypto Market Reaches All-Time High; First U.S. Bitcoin Futures ETF Fuels Rally

San Francisco | November 2, 2021 1:00 PM UTC

The Bitwise 10 Large Cap Crypto Index posted a gain of 37.32% in October on the back of the first approval of a bitcoin futures ETF in the U.S. The rally saw the crypto market reach a record market capitalization of $2.68 trillion during the month.

In this month’s Advisor Letter, our team explores the crypto market’s key performance metrics for October, reviews the most relevant news from the past month, and highlights a single chart that helps gauge the health of the market.

READ FULL ANALYSIS

About Bitwise

Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers. As of March 31, 2022, Bitwise managed $1.2 billion across an expanding suite of investment solutions. The firm is known for managing the world’s largest crypto index fund (OTCQX: BITW) and pioneering products spanning Bitcoin, Ethereum, DeFi, and crypto-focused equity indexes. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing, coming from firms including BlackRock, Blackstone, Meta, and Google, as well as the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg, and The Wall Street Journal. For more information, visit www.bitwiseinvestments.com.

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