Bitwise Asset Management, the firm which launched the very first cryptocurrency index fund, updated their Bitwise 20 mid cap crypto index on December 10, 2018. The firm is also well-known in the space for its partnership with Morgan Creek Digital Assets.
The firm is in the spotlight because of the assets in the Bitwise Invest 20, which consists of 20 leading cryptocurrencies in the market. According to the latest updated, the Bitwise Invest 20 constitutes of 15.37% in Tron, the tenth biggest cryptocurrency by market cap, making it the biggest among all. The other top portions are divided as – 11.58% in NEM, 11.45% in IOTA, 9.66% in Ethereum Classic, and 5.48% in NEO. It also includes Dogecoin, Tezos, Decred, Bitcoin Gold, and Lisk.
This excludes all the cryptocurrencies in Bitwise 1o Large Cap Crypto Index, which consists of 10 cryptocurrencies. It constitutes of 66.38% in Bitcoin, 13.64% in XRP, 9.40% in Ethereum, 2.30% in Stellar, and 2.02% in EOS. The other cryptocurrencies are Bitcoin Cash, Litecoin, Monero, Dash and Zcash.
Mike Dudas, co-founder of Button says:
“I just looked at the 5 largest assets in the @BitwiseInvest 20 and want to cry “
Aditya Das, an alt-coin investigator says:
“I’m blown away by this… It has Bitcoin Gold, Lisk and largest chunk of the basket is TRX? Not even the most daring alt-coin trader would have a portfolio like this”
Starving meme artist, a Twitterati says:
“LOL they also have 5.26% Dogecoin and 4.2% BTG xD holy shit thats hilarious, 1/20th of this shit is fucking dogecoin”
Recently, the Chief Executive Officer of Bitwise, Hunter Horsley spoke about the cryptocurrency market crash, in an interview with Bloomberg. According to him, the plunge in Bitcoin’s price is the reason for the crash of the whole market.
Additionally, the CEO believes that the cryptocurrency market is in a bad place. He also stated that the cryptocurrencies trade is similar to that of the public equity, however, it behaves more like a venture stage phenomenon.
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