Thursday, January 27, 2022

Crypto index fund manager Bitwise introduces the NFT index fund.

The Takeaway:

One of the leading crypto index fund managers, Bitwise Asset Management, announced yesterday that it had launched Bitwise Blue-Chip NFT Index Fund.

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One of the leading crypto index fund managers in the world, Bitwise Asset Management, announced yesterday that it had launched Bitwise Blue-Chip NFT Index Fund. Through the NFT Index Fund, accredited investors will have access to some of the world’s biggest non-fungible tokens and art collections. The NFT market has grown rapidly in 2021. Retail investors around the world purchased CryptoPunks in millions of dollars, which attracted institutional and accredited investors.

 

NFT trading volumes crossed the level of $10 billion in Q3.

In the third quarter of 2021, NFT trading volumes crossed the level of $10 billion. The crypto firm mentioned that the Bitwise Blue-Chip NFT Index Fund is currently available to accredited investors for private placement subscriptions, and the minimum investment stands at around $25,000. “New frontiers in the art are rare. Entirely new artistic mediums are even rare,” said Bitwise CIO Matt Hougan. “NFTs have emerged as the first digitally native medium for owning art and collectibles, with enormous potential for meaning, value, and use in our increasingly digital world.

 

Bitwise seeks to cater to the evolving digital art market in a meaningful way.

For many investors, that combination spells potential opportunity. The Bitwise Blue-Chip NFT Index Fund seeks to give these investors simple, diversified access to the digital art market’s most valuable collections in a meaningful way.” Keeping in mind the rapidly evolving digital asset space, Bitwise had launched several new crypto products in 2021 to meet the growing demand. In May 2021, the company announced the official launch of the Crypto Industry Innovators exchange-traded fund (ETF). NFTs are gaining immense popularity, and leading crypto players respond to changing trends. In October 2021, the US-based crypto exchange Coinbase announced that it is planning to launch its own NFT Marketplace.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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