Bitwise Asset Management launched its new index fund in an effort to democratize access to nonfungible tokens, art collections and other digital assets of value for the masses.
Bitwise Blue-Chip NFT Index Fund is designed to enable accredited investors to invest in major nonfungible tokens and art collections.
Retailers throughout the world purchased millions of dollars worth of CryptoPunks, drawing institutional and accredited investors. In the third quarter of 2021, NFT trading volumes surpassed $10 billion for the first time.
The crypto firm stated that the Bitwise Blue-Chip NFT Index Fund is now available to qualified investors for private placement subscriptions. The minimum investment is set at $25,000.
Bitwise launched several new crypto products in 2021 to satisfy the increasing demand, owing to the fast-changing digital asset industry. The firm announced the debut of its Crypto Industry Innovators exchange-traded fund (ETF) in May 2021.
In July, major American institutional investors contributed $70 million to the crypto index fund manager in order to beef up its balance sheet and double the size of its staff.
