Crypto

Bitwise Launches NFT Index Fund for Investors

Bitwise Launches NFT Index Fund for Investors

For accredited investors, Bitwise has launched the NFT index fund.

The Bitwise Blue-Chip NFT Index Fund allows accredited stakeholders to invest in some of the world’s most valuable nonfungible tokens (NFTs) and art collections.

Bitwise Asset Management launched its new index fund on December 16 to make nonfungible coins, art collections, and other digital assets of value more accessible to the general public.

The Bitwise Blue-Chip NFT Index Fund, according to the statement, is designed to allow accredited investors to invest in major non-fungible tokens and art collections.

This year, the NFT business exploded.

CryptoPunks were bought by retailers all around the world for millions of dollars, attracting institutional and accredited investors. NFT trading volumes topped $10 billion for the first time in the third quarter of 2021.

The Bitwise Blue-Chip NFT Index Fund is at the moment ready for private placement subscriptions to qualified investors, according to the crypto business. A minimum investment of $25,000 is required. Bitwise CIO Matt Hougan expressed the following about the new development:

“New frontiers in the art are rare. Entirely new artistic mediums are even rarer,” said Bitwise CIO Matt Hougan, adding that 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.”

Due to the fast-changing digital asset business, Bitwise developed various new crypto products in 2021 to meet rising demand. In May 2021, the company will launch its Crypto Industry Innovators exchange-traded fund (ETF).

Major American institutional investors committed $70 million to the crypto index fund manager in July to help it strengthen its balance sheet and quadruple its workforce size.

In 2017, the term “NFT” was coined. In 2017, two highly major NFT projects, CryptoPunks and CryptoKitties, were created, despite their relative obscurity at the time. Propy was the first to sell an NFT home. This was the start of NFT’s widespread acceptance, which corresponded with the bull market in Bitcoin.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.