Bitwise Enters NFT Market with the Launch of Blue-Chip NFT Index Fund

Crypto asset manager Bitwise recently announced the launch of the Bitwise Blue-Chip NFT Index Fund, providing investors with access to the rapidly growing marketplace for digital art and collectibles.

Tracking the Bitwise Blue-Chip NFT Collections Index, a basket of the 10 largest NFT collections weighted by market capitalization, the fund will begin to purchase and hold in custody NFTs from blue-chip collections with a combined total market capitalization of more than $6 billion, including CryptoPunks, Bored Ape Yacht Club, Autoglyphs, Fidenza, VeeFriends, and more.

The company mentioned that the new fund is currently available to accredited investors for private placement subscription with a $25,000 minimum investment and will provide monthly redemptions after an initial lock-up period.

“Since Bitwise launched the world’s first crypto index fund in 2017, our aim has always been to give investors a smart and convenient way to participate in crypto’s growth wherever that leads us,”said Bitwise CEO Hunter Horsley.

“And recently it’s become clear that any conversation about crypto’s potential must include NFTs, which are fundamentally changing how we think about not just owning art but property rights in general. Being able to invest in some of the NFT movement’s most defining collections as these evolve is an opportunity we wanted to make available to those who are as compelled by the space as we are,”Horsley added.

NFTs, or digital proofs of ownership recorded on decentralized blockchains, took the world of crypto by storm in 2021, with trading volumes of the asset class surpassing $10 billion for the first time in the third quarter of the year.

In addition, as Fazzaco reported, a number of leading investing companies including Binance, Rakuten and NAGA​ have stepped into the game of the digital asset area. It is predicted that the field will continue to grow in the next year as it is now subjected to such a great interest.