Bitcoin Global News (BGN)
March 15, 2018 -- ADVFN Crypto NewsWire -- The world’s first
cryptocurrency index fund, Bitwise HOLD 10, has far outperformed
the cryptocurrency markets at large. As the SEC hesitates in
approving bitcoin ETFs, Bitwise Asset Management has been outpacing
bitcoin since its inception in San Francisco three months ago.
Most people don’t have the time to do adequate due diligence on
which cryptocurrency exchange to trust, which coins to buy, how to
store crypto investments securely, how to allocate and rebalance a
cryptocurrency portfolio, and how to prepare reporting to the IRS.
Bitwise does all of those things for its clients for a 2.5% annual
management fee.
Bitwise counts among its 500+ clients individuals, family
trusts, wealth managers, investment managers, and institutional
investors. Minimum Investment is $10,000. The Bitwise HOLD 10 fund
holds the top 10 cryptocurrencies weighted by 5-year diluted market
cap and rebalanced monthly. Assets are purchased from multiple
liquidity providers and audited annually.
The Bitwise HOLD 10 fund uses state-of-the-art security
procedures to protect assets. The custodian, Kingdom Trust, puts
all underlying coins in an institutional-grade 100% cold storage
vault air-gapped from the internet.
To beat cryptocurrency markets, the Bitwise HOLD 10 index
exploits lack of correlations among cryptocurrencies.
Cryptocurrency prices tend to have much less synchronicity during
periods of trader bullishness, whereas they move in tandem during
bearish behavior.
According to Bitwise CEO Hunter Horsley, “Many large
cryptoassets don’t move in the same direction at the same time
historically.” As an example, Horsley points to Dash’s price that
has a 1% correlation with that of bitcoin, while Ethereum has a 38%
correlation, and NEO has a 20%.
Learn more about Bitwise’s strategies and tactics for beating
the cryptocurrency markets at large at https://www.bitwiseinvestments.com.
By: BGN Editorial Staff