An overnight piece on the cryptocurrency index fund manager raising $70m from an institutional investor, & 30 individuals
Some big names in this:
- Henry Kravis
- Stanley Druckenmiller
- Bridgewater CEO David McCormick
Bitwise has more than US$1.2 bn in assets under management
- is focused on servicing long-term investors seeking exposure to cryptocurrencies
- offer funds focusing on, for example: a fund tracking an index of the 10 largest crypto assets (including bitcoin, ether and litecoin), a fund holding 30 stocks whose companies derive 75% of their income from cryptocurrency or have 75% of net assets in crypto
Further evidence of institutional adoption of crypto.
Meanwhile, BTC steady around $40K
