Bitwise 10 Crypto Index ETF (BITW)

Bitwise Launches Polygon (MATIC) Fund, Offering Exposure to Leading Ethereum-Scaling SolutionPress Release | 10/20/2021

Bitwise Asset Management, the world’s largest crypto index fund manager with over $1.5 billion in AUM,1 today announced the launch of the Bitwise Polygon (MATIC) Fund. The strategy seeks to give investors exposure to MATIC, the native cryptoasset of the fast-growing Polygon platform, through a professionally managed investment vehicle.

“For years, the excitement around crypto’s most promising use cases, including DeFi and NFTs, has been muted by the fact that Ethereum simply isn’t built to handle it all yet,” said Matt Hougan, Chief Investment Officer at Bitwise. “Many are working on Ethereum competitors to solve this, but Polygon has seen breakthrough traction with a uniquely complementary solution that boosts Ethereum’s speed and efficiency. Investors have been asking about this rising star. With the new Bitwise Polygon Fund launching today, we’re excited to continue helping investors gain access to the expanding set of opportunities emerging in crypto.”

The Polygon platform allows developers to build applications and new blockchains that integrate with Ethereum, benefiting from its network effects while avoiding its transaction bottlenecks and higher costs. For example, an NFT transfer that would cost about $20 to execute on Ethereum costs just over $0.01 on Polygon.2 So far, more than 1,000 applications have chosen to build on Polygon, including market-leading NFT and DeFi apps OpenSea and Aave.3 In early October, the number of daily active user addresses for Polygon even briefly overtook that of Ethereum.4 As of October 13, Polygon had a market cap of around $8 billion, compared to Ethereum’s roughly $400 billion.5

The new Bitwise Polygon Fund is currently available to accredited investors for private placement subscription with a $10,000 minimum investment and weekly redemptions. The manager intends to pursue public quotation of the fund with a ticker through OTCQX when and if it is eligible. The custodian of the Bitwise Polygon Fund is Coinbase Custody Trust Company, LLC, the world’s largest crypto custodian.6

The launch of the Polygon fund follows several other launches by Bitwise earlier this year, including the Bitwise Uniswap (UNI) Fund, the Bitwise Aave (AAVE) Fund, the Bitwise 10 ex Bitcoin Crypto Index Fund, the Bitwise Crypto Industry Innovators ETF (BITQ), and the Bitwise DeFi Crypto Index Fund.

Bitwise today serves hundreds of RIAs, financial advisors, multifamily offices, hedge funds, high-net-worth individuals, and other institutional investors with a nationwide business development team.

About Bitwise Asset Management
Based in San Francisco, Bitwise is one of the largest and fastest-growing cryptoasset managers. As of October 15, 2021, Bitwise managed more than $1.5 billion across an expanding suite of investment solutions. The firm is known for managing the world’s largest crypto index fund (OTCQX: BITW) and pioneering products spanning bitcoin, Ethereum, DeFi, and crypto-focused equity indexes. 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, Facebook 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.

1 As of October 15, 2021.
2 Source: https://defi-lab.xyz/polygon. October 12, 2021. Transaction estimate data refreshes regularly.
3 Source: https://polygon.technology
4 Source: https://www.coindesk.com/markets/2021/10/04/polygon-flips-ethereum-on-active-user-addresses/
5 Source: https://coinmarketcap.com
6 Source: https://news.bitcoin.com/how-coinbase-quietly-became-the-worlds-biggest-bitcoin-bank/

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020005429/en/
https://www.otcmarkets.com/stock/BITW/news/Bitwise-Launches-Polygon-MATIC-Fund-Offering-Exposure-to-Leading-Ethereum-Scaling-Solution?id=326395

BITW seems expensive, based on premium, compared to GBTC

It might be time down here at this level. Hit support

NAV $27.41 this morning. The premium is under 100% at about 90% but is still a bit high. Unless NAV increases substantially pps should be in the mid $30s to compete with GBTC.

On the upside, when the alts run, BITW NAV will get a boost while GBTC will likely stay more or less pegged to BTC price. (Of course, BITW is more exposed to a alt crash as well.)

My opinions only.

GREAT NEWS!!

CVC now worth $5.25 !!! Imho!!
Happy New Year!!

CVC Civic technology:
A new Ethereum-based app that proves whether someone has been vaccinated for COVID-19 has been approved for download on both Apple’s App Store and Google Play.

Civic Technologies have developed the Ethereum wallet app, a San Francisco-based startup that raised US$43 million [AU$62 million] in a 2017 initial coin offering (ICO).

Im slowly loading

Up 4k points since friday. Down 20%. Nice world

How can this not be going up if 80% of it is Bitcoin???? Shows that any listing on OTC is manipulated crap.

This is the worst garbage I ever bought

This one surprisingly didn’t spike much..

We loaded tons of bitw
Will be up huge on Monday.
GBTC, INVU, BFARF, SI, BITW, EtHE couv
Go and load , if crypto moves these stocks will move lot.
I love INVU lot.

OK, this is just plain funny. Price of BTC as a battle in a video game except it's real. Ha!
https://dave.freeinforadar.ch/btcwars/
Getting this stuff here. https://www.lopp.net/bitcoin-information/visualizations.html

Bang bang. $BTC new ATH! Will it hold till Monday?

thanks for the clarification

GBTC trades at 10%-25% premium, currently 23%

Still trading over a 200% premium to underlying assets...Gbtc trades at around a 3.5% premium to underlying assets... gl...i might pick up some when it comes back to earth...

BITW took a starter at $62. Will grab more if it comes down lower

It’s only worth 25... only reason it wasn’t taken harder is the new issue protection against shorting...

I watched this go to 199, then that drop. Ouch!


If this drops under $50, I’m loading big time!

Too bad they don’t exist... lol

Gbtc’s somewhere in the 3,s... me thinks this has got to come back to at least 30...

Tempting, indeed!

Thanks. I had not seen that article.

Make for some nice PUTS for sure!

https://www.google.com/amp/s/cointelegraph.com/news/bitwise-10-crypto-index-trades-at-369-premium-in-record-breaking-debut/amp

Check their website. NAV was $18.55 yesterday and $20.70 intraday today. NAV is moving with cryptos. However, at $90 BITW is still trading at 4X+ NAV even after the pullback. That does not make sense to me.

Opened near 180 and shot up to 200 test very quickly. Then here is where some anomaly happened it was steadily dropping when I saw it at like 110 and yet the screen showed 197 so when I started buying 110s it was valueing as if the price was 197.

Going to have to study this a lot if it has these insane swings that do not make logical sense ie there was no flash crash in the underlying cryptos for such a decrease.



BITW

This is DISGUSTING. HOW CAN IT CLOSE AT 198 and open below 87

Reloaded smaller low 90s let some off high 90s with stop 94.99 - gameplan is for a melt up 110+ over next 3-4 hrs if thesis works

BITW

Loaded heavy with a 101 avg which sold out 110+ - no idea why there was such a sharp dropoff to that degree - looking to reload 80s with support in

BITW

Whoa, jus got 82’s!

35% drop ????

$185! This thing is free money!

150.00 premarket. Looking good!

Sold $123

no comment f@@k!

$BITW Absolutely bonkers...rocket boosters on full blast :)

beautiful,predictable runs/dips,best part,no shorts!!!moratorium period

Ignored $20's, got $40's LOL

I hate when that happens,your still in good shape tho

I overslept so I missed on the low 60s, so I got in at 78

Got 63's lol

Adding tomorrow!

Target $250
http://room2run.mystrikingly.com/

Adios at 58, ya'll have fun

blue sky babe!!!!

break fiddy !!!!

co comment
not able to buy germany

Nice find!
??

Nice volume, day 1 of trading.