For institutional and retail investors, Bitwise has launched the Web3 ETF.
The ETF tracks the Bitwise Web3 Equities Index, with over 85% exposure to companies in Web3.
Bitwise Asset Management announced on Oct. 3 a new exchange-traded fund (ETF) to both institutional and retail investors, giving them access to companies “positioned to benefit” from Web3 growth.
Bitwise, in a statement, said it marks “the next wave of the internet’s development characterized by greater decentralization and individual ownership of data.”
We have exciting news! Today we launched the Bitwise Web3 ETF (BWEB), a fund designed to provide focused exposure to one of the fastest-emerging themes in technology. For more information about the fund, go to: https://t.co/8rjQbwFJrM pic.twitter.com/RumkXViGl8
— Bitwise (@BitwiseInvest) October 4, 2022
Traded under the ticker BWEB, the ETF tracks the Bitwise Web3 Equities Index, with over 85% exposure to companies directly linked to Web3 business activities. This includes Web3 infrastructure, finance, Web3-enabled metaverse and digital worlds, development and governance and the Web3-enabled creator economy.
Hunter Horsley, Bitwise’s CEO, said:
“The Bitwise Web3 ETF seeks to capitalize on this great opportunity by offering investors of innovation a straightforward way to access the space. It also leverages our expertise in crypto — the cornerstone of Web3 — as many of these companies are centering their businesses on blockchain technology. We’re looking forward to seeing their anticipated continued growth as the space unfolds.”
Last October, the company filed its second application with the United States Securities and Exchange Commission (SEC) to create a spot Bitcoin ETF. After delays by the regulator, the final decision is expected this month. The first proposal was sent in January 2019 and rejected by the SEC in October of the same year.
Web3 is considered to be the future version of the internet. Based on public blockchains, it is decentralized, meaning that rather than consumers accessing the internet via services mediated by companies like Google, Apple or Facebook, individuals, themselves, own and govern sections of the internet.
The ETF tracks the Bitwise Web3 Equities Index, with over 85% of its publicity going to groups in Web3.
Bitwise Asset Management introduced on Oct. three a brand new exchange-traded fund (ETF) to both institutional and retail buyers, giving them the right of entry to groups “located to benefit” from the Web3 increase.
Bitwise, in a statement, stated it marks “the following wave of the net’s improvement characterized by means of more decentralization and man or woman possession of data.”
We have interesting news! Today we released the Bitwise Web3 ETF (BWEB), a fund designed to offer centered publicity to one of the fastest-rising subject matters in technology.
Traded below the ticker BWEB, the ETF tracks the Bitwise Web3 Equities Index, with over 85% of its publicity going to groups immediately connected to Web3 enterprise activities. This consists of Web3 infrastructure, finance, Web3-enabled metaverse and virtual worlds, improvement and governance, and the Web3-enabled writer economy.
Hunter Horsley, Bitwises CEO, stated:
The Bitwise Web3 ETF seeks to capitalize on this super possibility via means of providing buyers of innovation a truthful manner to get right of entry to the distance. It additionally leverages our knowledge of cryptography—the cornerstone of Web3—as a lot of those groups are centering their agencies on blockchain technology. We were looking forward to seeing their predicted perseverance grow as the distance grew.
Last October, the corporation filed its 2d software with the US Securities and Exchange Commission (SEC) to create a niche Bitcoin ETF. After delays via the means of the regulator, the very last choice is predicted for this month. The first concept was turned into a reality in January 2019 and rejected by the SEC in October of the identical year.
Web3 is thought to be the future model of the internet.Based on public blockchains, it’s far more decentralized. That means that instead of customers gaining access to the net through offerings mediated by means of groups like Google, Apple, or Facebook, individuals themselves personalize and govern sections of the net.