The new funds join the Bitwise DeFi Crypto Index Fund, extending Bitwise’s commitment to help professional investors access the DeFi space.
Bitwise Asset Management, the world’s largest crypto index fund manager with over $1.0 billion in AUM,¹ today announced the launch of the Bitwise Uniswap (UNI) Fund and the Bitwise Aave (AAVE) Fund. These two new strategies join the Bitwise DeFi Crypto Index Fund in simplifying access to the emerging decentralized finance (DeFi) space for professional investors.
“There is growing demand from financial advisors, hedge funds, institutions, and other professional investors for exposure to the fast-growing DeFi markets,” said Matt Hougan, CIO of Bitwise. “Uniswap and Aave are the two largest DeFi protocols in our DeFi index, and are the largest decentralized exchange and decentralized lending protocol in the world, respectively. Bitwise’s vision is to make the opportunities emerging in crypto more accessible, and we’re thrilled to take another step with the world’s first Uniswap and Aave investment funds.”
The Bitwise Uniswap Fund will invest directly in UNI, the native token of the Uniswap protocol, the leading decentralized crypto exchange. Uniswap’s transparent, peer-to-peer trading system has proven to be a material alternative to conventional exchanges (such as Coinbase). In June 2021 alone, Uniswap handled more than $60 billion in trading volume, up 6,000% year over year.
The Bitwise Aave Fund will invest directly in AAVE, the native token of the Aave protocol, the leading decentralized and non-custodial lending and borrowing protocol. As a transparent, programmable, peer-to-peer alternative to conventional loan providers, Aave has seen remarkable adoption: Total outstanding loans on Aave’s platform grew from $93.7 million in July 2020 to $6.92 billion in July 2021, up over 70x year over year.²
Bitwise manages a growing suite of investment funds, including the world’s first and largest crypto index fund, the Bitwise 10 Crypto Index Fund (OTCQX: BITW), that aim to simplify access to the full range of opportunities in the crypto space. The UNI and AAVE funds will form part of a growing suite of DeFi-focused products, including the Bitwise DeFi Crypto Index Fund, which launched in February 2021 as the first DeFi index fund in a traditional fund format. The firm focuses on partnering with investment professionals, and today serves RIAs, financial advisors, multifamily offices, high net worth individuals, hedge funds, and other institutional investors.
The new funds’ custodian is Anchorage Digital Bank, N.A., which became the first federally chartered digital asset bank in U.S. history in January 2021, and today secures billions of dollars in cryptoassets.
(1) As of July 26, 2021.
(2) From July 26, 2020 to July 26, 2021. Data from Ethereum ETL and CoinGecko, available at TheBlockCrypto.com.
Risk Disclosure and Important Information
Carefully consider the investment objectives, risk factors, and charges and expenses of any Bitwise investment product before investing. Investing involves risk, including the possible loss of principal. There is no guarantee or assurance that the methodology used by Bitwise or any of the Bitwise investment products will result in any Bitwise investment product achieving positive investment returns or outperforming other investment products. There is no guarantee or assurance that an investor’s investment objectives will be met through an investment into any Bitwise investment product, and an investor may lose money. Investors in any Bitwise investment product should be willing to accept a high degree of volatility in the price and the possibility of significant losses including the complete loss of the investment. Bitwise investment products involve a substantial degree of risk and are available only to institutional and individual accredited investors.
Certain of the Bitwise investment products may be subject to the risks associated with investing in cryptoassets, including cryptocurrencies and crypto tokens. Because cryptoassets are a new technological innovation with a limited history, they are a highly speculative asset. Future regulatory actions or policies may limit the ability to sell, exchange or use a cryptoasset. The price of a cryptoasset may be impacted by the transactions of a small number of holders of such cryptoasset. Cryptoassets may decline in popularity, acceptance or use, which may impact their price. The technology relating to cryptoassets and blockchain is new and developing. Currently, there are a limited number of publicly listed or quoted companies for which cryptoassets and blockchain technology represent an attributable and significant revenue stream.
The opinions expressed herein are intended to provide insight or education and are not intended as individual investment advice. Bitwise does not represent that this information is accurate and complete and it should not be relied upon as such.
This material represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any security in particular. Past performance is no guarantee of future results.
Diversification may not protect against market risk. Diversification does not ensure a profit or protect against a loss in a declining market.
Bitwise may attempt to have shares of its investment products quoted on a secondary market. However, there is no guarantee this will be successful. Although the shares of certain Bitwise investment products have been approved for trading on a secondary market, investors in any other Bitwise investment product should not assume that the shares will ever obtain such an approval due to a variety of factors, including questions that regulators such as the SEC, FINRA or other regulatory bodies may have regarding the investment product. As a result, shareholders of such investment product should be prepared to bear the risk of investment in the shares indefinitely.
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offer and sale of these investment products have not been registered with or approved or disapproved of by the Securities and Exchange Commission or the securities commission or regulatory authority of any state or foreign jurisdiction.
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.
To request an interview or for further information about Bitwise, we ask that members of the press please contact:
Frank Taylor/Ryan Dicovitsky
Dukas Linden Public Relations[email protected]