Bitwise Asset Management, the largest crypto index fund manager globally with over $1 billion AUM, launched the world’s first Uniswap and Aave Funds on Tuesday, according to a press release. The two new professional investment opportunities add to the DeFi suite and the Bitwise DeFi Crypto Index Fund, which launched in February of 2021 as the first DeFi index fund in a traditional fund format.
“There is growing demand from financial advisors, hedge funds, institutions, and other professional investors for exposure to the fast-growing DeFi markets,” said Matt Hougan, CIO of Bitwise. “Uniswap and Aave are the two largest DeFi protocols in our DeFi index, and are the largest decentralized exchange and decentralized lending protocol in the world, respectively. Bitwise’s vision is to make the opportunities emerging in crypto more accessible, and we’re thrilled to take another step with the world’s first Uniswap and Aave investment funds.”
The Bitwise Uniswap Fund is a single asset fund that seeks to capture the total return available to the investors in UNI, the native token of the Uniswap protocol. Uniswap is a peer-to-peer crypto token trading system and is the leading decentralized crypto exchange that is a transparent alternative to other exchanges like Coinbase. UNI is one of the largest crypto assets currently in the DeFi space, and Uniswap has access to over 30,000 tokens. The fund carries a 2.0% of assets under management expense ratio.
The Bitwise Aave Fund is a single asset fund that seeks to capture the total return available to the investors in AAVE, the native token of the Aave platform. Aave is a decentralized lending and borrowing protocol that permits its users to borrow against or earn interest on their deposits as an alternative to conventional loan providers. Aave is an integral part of the DeFi environment, and is currently partnered with 30 leading crypto applications. AAVE is another of the major crypto assets in the DeFi space. The fund carries a 2.0% of assets under management expense ratio.
Both funds work to capture any significant network distributions economically, which include but are not limited to air drops and hard forks, if they can be captured and realized securely. Through Bitwise’s management, transaction costs are kept to a minimum, with assets being held by the funds’ custodian, Anchorage Digital Bank.
About Bitwise and Anchorage Digital Bank
Bitwise is no stranger to investing within the crypto world; it maintains the world’s first and largest crypto index fund, the Bitwise 10 Crypto Index Fund (OTCQX: BITW). Bitwise currently offers investment products that deal in Ethereum, Bitcoin and DeFi, as well as the crypto-focused equity indexes.
The funds’ custodian, Anchorage Digital Bank, was the first U.S. federally-chartered digital asset bank, and currently secures billions in crypto assets.
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