Bitwise Crypto Index Committee Special Meeting (November 9, 2022)

San Francisco • November 10, 2022

Meeting Details

Date: November 9, 2022

Time: 2:00-3:00 p.m. ET

Reason for Meeting: Special meeting to discuss FTX

In Attendance: Matt Hougan (Chair), Hunter Horsley (Member), David Lawant (Member)

Meeting Notes

Item 1: Emergency Removal of FTX as an Eligible Crypto Asset Trading Venue

Description: The Committee met electronically to discuss the removal of FTX as an Eligible Crypto Asset Trading Venue under clause III.A.ii.b of the Bitwise Crypto Index Methodology (the “Emergency Loss of Eligibility” clause”).

Eligible Crypto Asset Trading Venues are trading venues that are eligible to contribute crypto asset prices to the Bitwise Crypto Asset Price (CAP) methodology, which the index uses to value crypto assets.

Clause III.A.ii.b allows for the immediate removal of an Eligible Crypto Asset Trading Venue “in extraordinary situations where Bitwise has reason to believe the pricing from that venue is not reflective of true price discovery in a given asset.”

Vote: The Committee voted unanimously to immediately remove FTX as an Eligible Crypto Asset Trading Venue, citing among other factors its violation of III.A.i.f of the Bitwise Crypto Index Methodology, which requires Eligible Crypto Asset Trading Venues to have “no significant downtime, withdrawal, or security issues.”

Item 2: 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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