Bitwise Crypto Index Committee Meeting (August 2022)

San Francisco • August 26, 2022

Meeting Details

Date: August 24, 2022

Time: 1:00 p.m. - 2:00 p.m. PT

Reason for Meeting: Standard Monthly Meeting

In Attendance: Matt Hougan (Chair), Hunter Horsley (Member), David Lawant (Member), Katherine Dowling (Observer), Satyajeet Pal (Observer), Ryan Rasmussen (Observer), Anais Rachel (Observer), Gayatri Choudhury (Observer)

Meeting Notes

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

Description: 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 Any Proposed Changes to the Bitwise Crypto Index Methodology

Description: The Committee will discuss and review new methodologies or changes to existing methodologies of the Bitwise Crypto Indexes. 

Discussion: The Bitwise Crypto Index Committee discussed a potential change to Rule 3.B.i.h, which requires eligible cryptoassets to have traded more than 10% of their free-float-adjusted market capitalization on Eligible Crypto Asset Trading Venues over the past 30 days. 

The Committee decided it would monitor the issue on an ongoing basis. 

Item 3: Review and Approve All Methodological Decisions That Require Judgment

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

Discussion: The Committee discussed three methodological decisions that required judgment:

  • Ethereum Classic (ETC): The Committee reviewed Ethereum Classic’s (ETC’s) eligibility, and determined that no change would be made to its designation at this time.

  • Stacks (STX): The Committee reviewed the Stacks token (STX) to determine if it would qualify for the Bitwise Decentralized Finance Crypto Index. It determined that it would not be eligible under rule VII.B.ii.a.

  • Uniswap (UNI): The Committee reviewed recent governance developments surrounding Uniswap. It determined that these governance developments would not change Uniswap’s qualification status.

Item 4: Developments Impacting the Market and/or Individual Bitwise Crypto Index Constituents

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

Discussion: The Committee discussed multiple developments in the crypto industry, including Ethereum’s progress towards the Merge, questions around protocols sanctioning transactions, and improvements in blockchain infrastructure, among other topics. It determined that no changes were required in the index as a result of these developments.  

Item 5: Review Expected Changes to Bitwise Indexes

Discussion: The Committee reviewed preliminary expected changes to the Bitwise Indexes as part of the August 2022 reconstitution, and determined that the reconstitution process is running appropriately. 

Item 6: Adjournment

The Chair adjourned the meeting.

About Bitwise

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,, 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

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