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Crypto investment startup Bitwise is seeking regulators’ permission to offer an exchange-traded fund (ETF) tied to the top 10 cryptocurrencies.
The Bitwise HOLD 10 Cryptocurrency Index Fund ETF would track the returns on the startup’s HOLD 10 Index. That index is the basis for a passive investment fund which itself invests in the top 10 cryptocurrencies by market capitalization. This fund “captures approximately 80 [percent] of the total market capitalization of the cryptocurrency market,” the company said Tuesday.
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