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Alternative Market Briefing

Bitwise's passive crypto fund is up 50% in just four months since launch

Tuesday, March 13, 2018

Komfie Manalo, Opalesque Asia:

Bitwise Asset Management's passive cryptocurrency fund is on a roll.

The San Francisco-based company said that its digital currency-focused HODL fund, a passively managed index fund comprised of the top 10 cryptocurrencies by market capitalization, is up 51% since its launch last November 22, reports Business Insider.

The strong performance of HODL outpaces even bitcoin, the perennial market leader in the digital currency space, which gained an estimated 3.6% during the same period.

Surprisingly, HODL outperformed bitcoin despite the digital currency's peaking at more than $19,000 on December 22. But regulatory uncertainties pushed bitcoin prices to a low $6,000 in late January before rebounding in the early weeks of February. Bitcoin is trading at $9,190 as of this writing, according to data from CoinMarketcap.

Only recently, Bitwise announced that Matt Hougan, a 15-year-long veteran of the exchange-traded fund space, has joined the firm as VP of research and development.

Bitwise Investments raised $4m for HODL

Bitwise said in December that it raised $4 million in seed funding for HODL to build ......................

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