Bitwise announced a new exchange-traded fund to both institutional and retail investors, giving them access to companies “positioned to benefit” from Web3 growth.
Bitwise, in a statement, said it marks “the next wave of the internet’s development characterized by greater decentralization and individual ownership of data.
Traded under the ticker BWEB, the ETF tracks the Bitwise Web3 Equities Index, with over 85% exposure to companies directly linked to Web3 business activities. This includes Web3 infrastructure, finance, Web3-enabled metaverse and digital worlds, development and governance and the Web3-enabled creator economy.
The company filed its second application with the United States Securities and Exchange Commission last year to create a spot Bitcoin ETF. After delays by the regulator, the final decision is expected this month. The first proposal was sent in January 2019 and rejected by the SEC in October of the same year.
