Bitwise launches Web3 ETF for institutional and retail investors – Cointelegraph





The ETF tracks the Bitwise Web3 Equities Index, with over 85% exposure to companies in Web3.
Bitwise Asset Management announced on Oct. 3 a new exchange-traded fund (ETF) to both institutional and retail investors, giving them access to companies “positioned to benefit” from Web3 growth. 
Bitwise, in a statement, said it marks “the next wave of the internet’s development characterized by greater decentralization and individual ownership of data.”
We have exciting news! Today we launched the Bitwise Web3 ETF (BWEB), a fund designed to provide focused exposure to one of the fastest-emerging themes in technology. For more information about the fund, go to: https://t.co/8rjQbwFJrM pic.twitter.com/RumkXViGl8
Traded under the ticker BWEB, the ETF tracks the Bitwise Web3 Equities Index, with over 85% exposure to companies directly linked to Web3 business activities. This includes Web3 infrastructure, finance, Web3-enabled metaverse and digital worlds, development and governance and the Web3-enabled creator economy.
Hunter Horsley, Bitwise’s CEO, said:
Last October, the company filed its second application with the United States Securities and Exchange Commission to create a spot Bitcoin ETF. After delays by the regulator, the final decision is expected this month. The first proposal was sent in January 2019 and rejected by the SEC in October of the same year. 
Web3 is considered to be the future version of the internet. Based on public blockchains, it is decentralized, meaning that individuals, themselves, own and govern sections of the internet rather than accessing the internet via services mediated by companies like Google, Apple or Facebook.

source



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.