US crypto investment company Bitwise announced on Wednesday its plans to expand its product offering for institutional investors with the launch of Bitwise Compound fund.
Previously, Bitwise has offered several major investment trusts including “Bitwise 10 Crypto Index Fund” and DeFi investment trusts such as “Bitwise DeFi Crypto Fund”. It also manages DeFi-related individual stock funds such as UNI, AAVE, and Polygon (MATIC). The company currently manages over $1.7 billion in assets
The company explained that the Bitwise Compound (COMP) Fund would allow investors to seek exposure to COMP without having to physically deal with such tokens. Compound is an Ethereum-based peer-to-peer lending and borrowing protocol, and COMP is its governance token.
In a press release issued by the company, Matt Hougan, Chief Investment Officer of Bitwise, noted:
“Our goal at Bitwise has always been to identify the most promising areas in crypto and to give investors the opportunity to understand and access them efficiently. That’s why we’re so excited to launch this fund.”
Currently, only some qualified investors are allowed to invest in the fund, with a minimum investment requirement of $10,000. Bitwise plans to list the fund in the open market through OTCQX of the major OTC exchange.