Crypto News

Crypto Asset Manager Bitwise launches the world’s first NFT index fund

                                                            In einer Ankündigung vom 16. Dezember enthüllte Matt Hougan, Chief Information Officer von Bitwise, die Einführung des Bitwise Blue-Chip NFT Index Fund, der seiner Meinung nach der weltweit erste war.

He added that the fund, which is rebalanced every three months, would hold the top ten most valuable NFT collections, including CryptoPunks, Bored Ape Yacht Club, Meebits, Autoglyphs, Fidenza, VeeFriends, and more. The index selects and weights NFTs based on theirs Market capitalization using so-called “floor prices”.

Bitwise stated that its “Adjusted Reserve Price” is intended to “reflect the price at which an investor can buy or sell the lowest NFT price in a given collection”.

1 / Today we are launching the Bitwise Blue-Chip NFT Index Fund, the world’s first NFT index fund.

NFTs are a historic movement and are just getting started.

The fund holds the 10 most valuable NFT collections: CryptoPunks, Bored Apes, Fidenza, etc.

A thread with more details – pic.twitter.com/4UyipQorrZ

– Matt Hougan (@Matt_Hougan) December 16, 2021

NFT exposure for investors

Hougan added that NFTs with fewer than 100 items in the collection or 1: 1 single releases are too illiquid to record. It will focus on music rights, virtual land, in-game items, and art and collectibles.

Hougan said the fund’s minimum investment is $ 25,000, less than many blue-chip NFTs. However, it is only available to accredited US investors. He stated that the goal was “to make it easier to own the blue-chip NFTs that are emerging in this historic new category,” before adding:

“New frontiers in art are rare. Completely new artistic media are even rarer. NFTs have developed as the first digital native medium for the possession of art and collectibles with enormous potential for meaning, value and use in our increasingly digital world. “

In addition to the blue-chip NFT Index Fund, Bitwise launched eight other crypto funds this year. Four were index-based, like the Bitwise DeFi Index Fund and the Bitwise “ex Bitcoin“Index Fund.

In October the company launched the Bitwise Polygon (MATIC) Fund that enables exposure to the Layer 2 scaling network. Bitwise has funding for too Compound Finance, Ethereum, and Uniswap. The company has more than $ 1.6 billion in assets under management.

NFT market outlook

According to data from Nonfungible.com, there was last week NFT sales of $ 253 million with nearly 90,000 items sold.

Cryptoslam, which ranks collections by sales volume, reports that Axie Infinity has been ousted from the top in weekly sales. It has been replaced by the CloneX collection, which recorded a volume of $ 135 million in the past seven days.

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Source: Crypto News Deutsch

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