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.
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, NFTs, and the Metaverse. 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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