Bitwise Asset Administration introduced on Oct. 3 a brand new exchange-traded fund (ETF) to each institutional and retail traders, giving them entry to firms “positioned to profit” from Web3 development.
Bitwise in a press release mentioned it marks “the following wave of the web’s growth characterised by higher decentralization and particular person possession of information.”
Now we have thrilling information! At present we launched the Bitwise Web3 ETF (BWEB), a fund designed to offer centered publicity to one of many fastest-emerging themes in know-how. For extra details about the fund, go to: https://t.co/8rjQbwFJrM pic.twitter.com/RumkXViGl8
— Bitwise (@BitwiseInvest) October 4, 2022
Traded underneath the ticker BWEB, the ETF tracks the Bitwise Web3 Equities Index, with over 85% publicity to firms instantly linked to Web3 enterprise actions. This contains Web3 infrastructure, finance, Web3-enabled Metaverse and digital worlds, growth and governance, and the Web3-enabled creator economic system.
Hunter Horsley, Bitwise’s CEO, mentioned:
“The Bitwise Web3 ETF seeks to capitalize on this nice alternative by providing traders of innovation an easy option to entry the area. It additionally leverages our experience in crypto—the cornerstone of Web3—as many of those firms are centering their companies on blockchain know-how. We’re trying ahead to seeing their anticipated continued development because the area unfolds.”
Final October, the corporate filed its second utility with the Securities and Alternate Fee (SEC) to create a spot Bitcoin exchange-traded fund (ETF). After delays by the regulator, the ultimate resolution is anticipated this month. The primary proposal was despatched in January 2019 and rejected by the SEC in October of the identical yr.
Net 3.0 is taken into account as the long run model of the web. Primarily based on public blockchains, it’s decentralized, that means that somewhat than customers accessing the web by way of providers mediated by firms like Google, Apple or Fb, people, themselves, personal and govern sections of the web.
