Timely Insights
Crypto Market Reaches All-Time High; First U.S. Bitcoin Futures ETF Fuels Rally
San Francisco • November 2, 2021
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.
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Bitwise Asset Management is the largest crypto index fund manager in America. Thousands of financial advisors, family offices, and institutional investors partner with Bitwise to understand and access the opportunities in crypto. For six years, Bitwise has established a track record of excellence managing a broad suite of index and active solutions across ETFs, separately managed accounts, private funds, and hedge fund strategies. Bitwise is known for providing unparalleled client support through expert research and commentary, its nationwide client team of crypto specialists, and its deep access to the crypto ecosystem. The Bitwise team of more than 60 professionals combines expertise in technology and asset management with backgrounds including BlackRock, Millennium, ETF.com, Meta, Google, and the U.S. Attorney’s Office. Bitwise is backed by leading institutional investors and has been profiled in Institutional Investor, Barron’s, Bloomberg, and The Wall Street Journal. It has offices in San Francisco and New York. For more information, visit www.bitwiseinvestments.com.
