Date: February 22, 2023
Time: 11:00 a.m.-12:00 p.m. PT
Reason for Meeting: Standard monthly meeting
In Attendance: Matt Hougan (Chair), Hunter Horsley (Member), Hong Kim (Member), Katherine Dowling (Observer), Gayatri Choudhury (Observer), Mallika Kolar (Observer), Ryan Rasmussen (Observer), and Satyajeet Pal (Observer)
1: Welcome and Attendance
All members of the Committee were present at the meeting.
2: Review and Verify All Data Sources for Uptime, Accuracy, and Robustness
The Bitwise Engineering team confirmed that all data sources were working as expected with regard to uptime, accuracy, and robustness.
3: Review and Approve Any Proposed Changes to the Bitwise Crypto Index Methodology
There were no proposed changes to the Bitwise Crypto Index Methodology that required judgment, nor were there any upcoming proposed changes to note.
4: Review and Approve All Methodological Decisions That Require Judgment
There were no recent methodological implementation decisions that required judgment, nor were there any upcoming decisions to note.
5: Developments Impacting the Market and/or Individual Bitwise Crypto Index Constituents
The Committee discussed a large number of developments impacting the market and/or individual Bitwise Crypto Index constituents, including the SEC’s charges against Kraken related to the exchange’s staking business; the NYDFS's direction to Paxos Trust Co. to stop issuing BUSD stablecoins; and the SEC’s proposed enhanced safeguarding rule for registered investment advisers, among other topics.
6: Review Expected Changes to Bitwise Indexes
The Committee reviewed the expected changes to the Bitwise Crypto Indexes, and determined that the reconstitution process is running appropriately.
The Chair adjourned the meeting.
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.
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