Bitwise 10 Crypto Index Fund
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- Bitwise 10 Crypto Index Fund (BITW) is an exchange-traded product that provides investors with diversified exposure to the top 10 largest cryptocurrencies by free-float-adjusted market capitalization, tracking the Bitwise 10 Large Cap Crypto Index; the fund employs active screening for liquidity, custody, security, regulatory status, and other risks, with monthly rebalancing to reflect market dynamics; under its ETP structure, BITW allocates 90% of holdings to approved single-asset crypto ETPs including Bitcoin, Ether, Solana, and XRP, while capping other eligible assets at 10%; key holdings as of late 2025 include Bitcoin (74.34%), Ether (15.55%), XRP (5.17%), Solana (3.07%), and smaller positions in Cardano, Chainlink, Litecoin, Sui, Avalanche, and Polkadot. Launched in 2017 by Bitwise Investment Advisers, LLC, a San Francisco-based crypto asset manager founded that year and headquartered at 400 Montgomery Street; BITW trades on NYSE Arca following SEC approval in December 2025, marking its transition from OTCQX with approximately $1.25 billion in assets under management; the fund targets accredited and institutional investors seeking passive crypto market exposure through a regulated vehicle, with an expense ratio of 0.75% and custody by Coinbase Custody Trust Co., LLC and Bank of New York Mellon. Recent developments include Bitwise's uplisting of BITW to NYSE Arca as the first and largest crypto index ETP in December 2025, enhancing liquidity and accessibility; the firm surpassed $5 billion in total AUM in early 2025 (up 400% from 2024), driven by launches of spot Bitcoin and Ethereum ETPs, and crossed $15 billion later that year with a $70 million equity raise from investors including MassMutual and Haun Ventures; Bitwise acquired London-based ETC Group in August 2024, expanding its European platform to nine crypto ETPs covering assets like XRP and Solana, and appointed ETF veteran Luis Berruga as strategic advisor for global partnerships and M&A. Bitwise operates globally with offices in San Francisco, New York, and London, serving over 4,000 private wealth teams, RIAs, family offices, and institutions through a suite of more than 30 products encompassing index funds, thematic ETFs, private funds, SMAs, and staking solutions; the firm maintains daily market monitoring and leverages an Index Advisory Board featuring experts like former Bloomberg index head Srikant Dash.