Bitwise Introduces NFT Index Fund

One of the leading crypto index fund managers in the world, Bitwise Asset Management, announced yesterday that it has launched Bitwise Blue-Chip NFT Index Fund. Through the NFT Index Fund, accredited investors will have access to some of the world’s biggest non-fungible tokens and art collections.

The NFT market has grown rapidly in 2021. Retail investors around the world purchased CryptoPunks in millions of dollars and that attracted institutional and accredited investors as well. In the third quarter of 2021, NFT trading volumes crossed the level of $10 billion.

The crypto firm mentioned that the Bitwise Blue-Chip NFT Index Fund is currently available to accredited investors for private placement subscriptions. Additionally, the minimum investment stands at around $25,000.

“New frontiers in art are rare. Entirely new artistic mediums are even rarer,” said the Bitwise CIO, Matt Hougan. “NFTs have emerged as the first digitally native medium for owning art and collectibles, with enormous potential for meaning, value and use in our increasingly digital world. For many investors, that combination spells potential opportunity. The Bitwise Blue-Chip NFT Index Fund seeks to give these investors simple, diversified access to the digital art market’s most valuable collections in a meaningful way.”

Due to the rapidly evolving digital asset space, Bitwise launched several new crypto products in 2021 to meet the growing demand. In May 2021, the company announced the official launch of the Crypto Industry Innovators exchange-traded fund (ETF).

NFT Ecosystem

Non-fungible tokens are gaining immense popularity and leading crypto players are responding to the changing trends. In October 2021, Coinbase, a prominent digital exchange, announced that it is planning to launch its own NFT Marketplace.

“And recently, it’s become clear that any conversation about crypto’s potential must include NFTs, which are fundamentally changing how we think about not just owning art but property rights in general. Being able to invest in some of the NFT movement’s most defining collections as these evolve is an opportunity, we wanted to make available to those who are as compelled by the space as we are,” Bitwise CEO, Hunter Horsley commented.