Bitwise launches an index fund that tracks the 10 largest NFT collections. Representing the top 10 NFT collections based on market capitalization using floor prices, the Bitwise Blue-Chip NFT Index Fund will purchase and hold NFTS from CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, Autoglyphs, Fidenza, VeeFriends, CyberKongz Genesis, Cool Cats, Meebits and Chromie Squiggle.
According to Matt Hougan, CIO of Bitwise, the fund will focus on art and collectibles, due to it’s drive in volume early in the NFT space. Although gaming NFTs significantly picked up in recent months, art and collectibles are still seen to drive just over half of the total volume, with $37.54 million.
Investments can be made by accredited investors via private placement with a relatively low minimum of $25,000. This amount will allow investors to share ownership in digital art to which they might not otherwise have access.
