Bitwise Index Services, the index calculation and dissemination subsidiary of Bitwise Asset Management, has licensed a new cryptocurrency index to a European ETF.
The index will be used by Swiss-based fintech firm Amun AG as the benchmark for a Swiss-listed exchange-traded product available outside the U.S., according to a news release.
The Bitwise 10 Select Large Cap Crypto Index is designed to track the performance of up to 10 of the largest crypto assets in the world, as measured and weighted by free-float and inflation-adjusted market capitalization, according to the news release.
As of the May 31 rebalance, the Index includes Bitcoin, ethereum, XRP, bitcoin cash, litecoin, EOS, stellar lumens and cardona.
“We are thrilled to be working with Amun to help non-U.S. investors gain diversified exposure to the crypto markets,” Matt Hougan, global head of research for Bitwise Asset Management, said in a prepared statement. The index is designed to capture a broad array of cryptoassets while accounting for many of the unique constraints presented by the current cryptocurrency ecosystem, he said.
Bitwise Asset Management, which created the world’s first cryptoasset index fund in 2017, is a provider of index and beta funds for the cryptoasset space. It manages multiple funds serving institutions, family offices, financial advisors, asset managers, and high net worth individuals.
Bitwise Index Services develops, calculates, disseminates and licenses cryptocurrency indexes and conducts research in the area of cryptocurrency investing.