The Bitwise 10 Crypto Index Fund (BITW) — the world’s largest crypto index fund — is the first crypto index fund approved on LPL’s platform.
Bitwise Asset Management, the largest cryptocurrency index fund manager, announced today that the Bitwise 10 Crypto Index Fund (OTCQX: BITW) has been approved for both solicited and unsolicited trades on LPL Financial’s brokerage and advisory platforms. The fund was made available to LPL’s affiliated advisors on June 28, 2021.
The Bitwise 10 Crypto Index Fund offers advisors a way to access diversified exposure to the cryptocurrency asset class for their clients. The fund seeks to track a market-capitalization-weighted index of the 10 largest cryptoassets, including bitcoin, ethereum, ethereum competitors, and DeFi assets. All assets are screened for important risk factors before being made eligible for inclusion in the index. The index is rebalanced monthly to stay up to date with the market.
The fund is managed by Bitwise Asset Management, a specialist cryptoasset manager founded in 2017 with over $1.2B in AUM.¹
“The Bitwise 10 Crypto Index Fund makes it easier for advisors to allocate to the cryptocurrency market as a whole without having to pick specific tokens or constantly monitor the rapid changes taking place in the industry,” said Mick McLaughlin, Managing Director and Head of Distribution at Bitwise Asset Management. “Our nationwide distribution team stands ready to help advisors navigate this space and, where appropriate, evaluate if and how to incorporate crypto into client portfolios.”
“We built Bitwise specifically to serve financial advisors, with products, education, and boots-on-the-ground distribution support,” added Hunter Horsley, Bitwise’s CEO. “We serve hundreds of RIA firms across the country today, and are thrilled that BITW is now available to LPL’s 17,000+ affiliated financial advisors. We admire LPL’s forward-thinking mindset toward the space.”
Bitwise’s research team provides in-depth and ongoing analysis of the crypto market that is designed to help advisors understand, evaluate and, where appropriate, allocate to the rapidly emerging space. In January, Bitwise CIO Matt Hougan and Director of Research David Lawant authored the CFA Research Institute’s first Research Brief on crypto, titled “Cryptoassets: The Guide to Bitcoin, Blockchain, and Cryptocurrency for Investment Professionals.”
More than 250 financial advisory firms use Bitwise’s research, educational tools, investment products and support services to steward investments on behalf of clients. To learn more about the Bitwise 10 Crypto Index Fund and Bitwise, please visit www.bitwiseinvestments.com or reach out to your local distribution team representative.
(1) As of March 31, 2021.
Risk Disclosure and Important Information
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 into any Bitwise investment product should be willing to accept a high degree of volatility in the price of such investment product and the possibility of significant losses. An investment in any Bitwise investment product involves a substantial degree of risk.
For certain Bitwise investment products, Bitwise is the index provider. There is no guarantee or assurance that the methodology used to create the index will result in funds that track that index achieving positive investment returns or outperforming other investment products. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.
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 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 decrease their price.
Certain of the Bitwise investment products are available to institutional and individual accredited investors through periodic and ongoing private placements. Because there is currently no redemption program for certain products traded on a secondary market there can be no assurance that the value of such product’s shares will reflect the value of the assets held by such product, less expenses and other liabilities, and the shares of such product may trade at a substantial premium over, or a substantial discount to, the value of the assets held, less expenses and other liabilities.
The opinions expressed herein are intended to provide insight or education and are not intended as individual investment advice. We do not represent that this information is accurate and complete, and it should not be relied upon as such.
Diversification may not protect against market risk. Diversification does not ensure a profit or protect against a loss in a declining market.
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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