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Laxman Pai, Opalesque Asia:

The $1 billion digital assets manager Bitwise Asset Management announced the launch of the Bitwise Uniswap (UNI) Fund and the Bitwise Aave (AAVE) Fund to its lineup of institutionally-focused investment vehicles.

The world's largest crypto index fund manager said in a press release that these two new strategies join the Bitwise DeFi Crypto Index Fund in simplifying access to the emerging decentralized finance (DeFi) space for professional investors.

The Bitwise Uniswap Fund will invest directly in UNI, the native token of the Uniswap protocol, the leading decentralized crypto exchange. Uniswap's transparent, peer-to-peer trading system has proven to be a material alternative to conventional exchanges (such as Coinbase). In June 2021 alone, Uniswap handled more than $60 billion in trading volume, up 6,000% year over year.

The Bitwise Aave Fund will invest directly in AAVE, the native token of the Aave protocol, the leading decentralized and non-custodial lending and borrowing protocol. As a transparent, programmable, peer-to-peer alternative to conventional loan providers, Aave has seen remarkable adoption: Total outstanding loans on Aave's platform grew from $93.7 million in July 2020 to $6.92 billion in July 2021, up over 70x year over year.

"There is growing demand from financial advisors, hedge funds, institutions, and other professional investors for exposure to the fast-growing DeFi markets," said Matt Hougan, CIO of Bitwise......................

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