Date: October 25, 2021
Time: 2:00 – 3:00 p.m. PT
Reason for Meeting: Standard Monthly Meeting
In Attendance: Matt Hougan (Chair), Hunter Horsley (Member), David Lawant (Member), Hong Kim (Observer), Katherine Dowling (Observer), Satyajeet Pal (Observer), Ryan Rasmussen (Observer)
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 All Methodological Decisions That Require Judgment, or Any Adjustments to the Methodology
Description: The Committee will discuss and review any recent methodological implementation decisions that required judgment, as well as any known upcoming decisions.
Discussion: Introduction of new rule to the Bitwise Crypto Index Methodology: The committee unanimously voted in favor of adding a new rule to the Bitwise Crypto Index Methodology that requires eligible assets to sustain a price of over $0.01 for the last 30 consecutive days before the rebalancing date to ensure that all assets included in the index have a robust price discovery mechanism in place.
As a result, rule III.B.i.i of the Bitwise Crypto Index Methodology reads as follows:
i. Has maintained a unit price greater than $0.01 for the past 30 consecutive days.
Item 3: 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 related to the inclusion of any constituent in the Index.
Discussion: There were no market developments that raised concerns or issues for the index.
Item 4: Adjournment
The Chairman adjourned the meeting.
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers, offering both index and active strategies across a wide array of investment vehicles. The firm is known for creating the world’s largest crypto index fund (OTCQX: BITW), a suite of crypto-focused equity and futures ETFs, and investment products that span Bitcoin, Ethereum, DeFi, and NFTs. 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.
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