Alternative Investments/Digital: Bitwise Asset Management Launches Web3 ETF
Bitwise: Web3 is a term used to describe the next wave of the internet’s development.
Bitwise Asset Management, the world’s leading crypto index fund manager with more than $1.3 billion in assets under management, has launched the Bitwise Web3 ETF (ticker: BWEB). The ETF will provide investors with exposure to companies that will ride the coming boom from Web3 – the third stage of the evolution of the internet. (Businesswire)
After Web1 (read only websites) and Web2 (social media sites like Facebook and Twitter, where users could both read and write content) comes Web3 (read, write content; own digital assets, conduct business using crypto and blockchain). The third stage (Web3) is characterized by greater decentralization and individual ownership of data.
Bitwise Web3 ETF (ticker: BWEB)
The Bitwise Web3 ETF, which tracks the Bitwise Web3 Equities Index, is available to both retail and institutional investors and is not subject to investment minimums.
The index includes exposure to companies spread across five themes: Web3 Infrastructure Providers, Web3 Finance, Web3-Enabled Metaverse and Digital Worlds, Web3-Enabled Creator Economy, and Web3 Development and Governance.
More than 85% of the portfolio will be invested in up to 40 companies directly linked to Web3 themes and business activities.
The ETF has an expense ratio of 0.85%.
“Today, many experts believe we’re on the cusp of a major evolution in the core architecture of the internet,” said Bitwise CIO Matt Hougan. “Any shift of that magnitude will depend on companies that can provide the services and infrastructure to support it. With the Bitwise Web3 ETF, we’re excited to give investors the opportunity to capture one of the fastest-emerging themes in technology through a diverse mix of companies that we believe will lead the charge.”
“Today’s Web3 companies are not only helping reshape the internet as we know it, but they’re among some of the most disruptive and fastest-growing firms in the world,” said Bitwise CEO Hunter Horsley. “The Bitwise Web3 ETF seeks to capitalize on this great opportunity by offering investors of innovation a straightforward way to access the space.”
Related Story: SoFi Launches Web3 And Smart Energy ETFs
Latest Alternative Investment News
FinTech: Klarna’s All-In Efforts To Achieve Profitability Getting Traction
Swedish fintech company Klarna achieved a significant improvement in its financial performance during the first quarter, as it halved its net loss compared to the same period last year. The…
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks
Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI)…
Venture Capital: Matrix Partners Raises $550M For Its Fourth India Fund
Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from…
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium
Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found…