Recently on Wall Street, the number of parties involved in virtual currency trading is on the rise. This is due to them exploiting new avenues to expand their investment portfolio and enjoy the potential benefits. Bitwise a company that operates an index fund has provided a 45% return in its first two months for example.
Performance upheld by Digital Currencies
Today exciting data has been announced by Bitwise Asset Management has showcased the performance of the firm since its inception of the fund last year. Bitwise Asset Management is a company that was established to run the cryptocurrency HOLD 10 Private Index Fund. 45% return has been provided by the HOLD 10 in its first two months.
Bitcoin had risen up by 39 percent in the December’s bull market as compared to the HOLD 10 with 78 percent. In the meantime, as compared to the fund with just 18 percent, the January’s bear market had a fall of 27 percent.
According to the CEO of Hunter Horsley, reported by news.Bitcoin.com “The fund has accepted several hundred investors since our launch, ranging from doctors and professors and engineers to family offices and billionaires. Because of regulations on private funds, we’re currently only able to serve accredited investors with this vehicle (similar to many ICOs such as Blockstack and Filecoin). But our goal is to be able to serve anyone.” In the United States, an accredited investor is termed as a person whom net worth should be a minimum of USD 1 million, which excludes the worth of where they are living.
The HOLD 10 has a weak connection with the traditional asset class, which is particularly significant to diversified portfolio investors. (The following include the back-tested within this year: 10.8 percent relationship to the S&P500, -5.9 percent as indicated in the Bloomberg Barclays US Aggregate Bond Index, and gold with -1.6 percent.). The fund consists of BTC, ETH, BCH, XRP, DASH, LTC, XMR, EOS, XLM, and NEO.
Today, Bitwise declared that it has staff Matt Hougan, the author of an ETFs book which is an initiative to demonstrate how virtual currency is moving towards a mainstream financial asset class. He has been given the post of vice president of R&D. Previously, he held the positions of Inside ETFs and prior to that the CEO of ETF.com.
Partner at Blockchain Capital which is also a shareholder in Bitwise, Spencer Bogart explained that rules-based beta option accessibility is increasingly sought for investors. Furthermore, he elaborated that Mr. Hougan specialties in exchange-traded products, indexing, and institutional research balance the company specialize in software which will further assist Bitwise to become an investor’s best-in-class partner.