Bitwise was founded in 2017, when it launched the first cryptocurrency index, the Bitwise 10, a Private Index Fund

Fees: 2.5% management fee

Minimum investment: $25,000 (as of April 2019)

There is also an offshore version, the Bitwise 10 Index Offshore Fund, which has a $100,000 minimum investment, and a 2.5% management fee. Both funds are available only to accredited investors, and the Offshore fund is limited to “non-U.S. persons and certain Tax-Exempt U.S. accredited investors.”

Bitwise also offers single-currency funds for Bitcoin and Ethereum via the Bitwise Bitcoin Fund and the Bitwise Ethereum fund, launched in December of 2018. Both are limited to accredited investors, have $25,000 investment minimums, but a significantly lower management fees at 1.5%.

Management & Experience: Bitwise’s management (with the exception of their CEO, who was previously at Facebook and Instagram) draws on decades of experience in asset management. The COO was a head of trading at IndexIQ, and a Vice-President at Direxion. On the technology and research side, there is a depth of experience with ETFs, which mirrors their business development strengths: The head of business development was previously a director at the Commonfund, a well-known institutional asset manager. If Bitwise succeeds in helping the cryptocurrency market grow significantly, it will be through the inclusion of institutional clients.

Research: Bitwise provides regular industry commentary on their website, monthly updates on re-balancing of the Bitwise 10 index, and longer thoughtful, well-researched, reports such as “The Case for Crypto In An Institutional Portfolio” published in May 2018.