Bitwise announces expansion, to sell Polygon investment trusts
Bitwise, a US cryptocurrency investment company, announced on the 20th the expansion of its product offering with the launch of its new Bitwise Polygon (MATIC) Fund.
Bitwise is a provider of major investment trusts including ‘Bitwise 10 Crypto Index Fund’ and Bitwise DeFi Crypto Fund with over $1.5 billion in AUM.
With an ever-expanding use case of NFT and DeFi, Bitwise has now formed a ‘professionally managed investment vehicle’ that will give investors exposure to Ethereum’s layer 2 solution Polygon.
As per the announcement, the new fund is currently only available to accredited investors, requiring a minimum investment of $10,000 to qualify for a private placement subscription.
Matt Hougan, Chief Investment Officer at Bitwise, said:
“For years, the excitement around crypto’s most promising use cases, including DeFi and NFTs, has been muted by the fact that Ethereum simply isn’t built to handle it all yet. Many are working on Ethereum competitors to solve this, but Polygon has seen breakthrough traction with a uniquely complementary solution that boosts Ethereum’s speed and efficiency.”
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow