{"id":33555,"date":"2020-12-17T12:43:17","date_gmt":"2020-12-17T10:43:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33555"},"modified":"2025-08-28T14:24:00","modified_gmt":"2025-08-28T11:24:00","slug":"bitwise-crypto-fund-share-premium-over-cryptocurrencies-hits-660","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitwise-crypto-fund-share-premium-over-cryptocurrencies-hits-660\/","title":{"rendered":"Bitwise crypto fund share premium over cryptocurrencies hits 660%"},"content":{"rendered":"<p>The Bitwise 10 Crypto Index Fund&#8217;s shares trade at 7.6 times the NAV of the basket of ten cryptocurrencies\u2014Bitcoin, Ethereum and others\u2014that underlie each share of the Bitwise Asset Management fund.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Market price, Net Asset Value (NAV), Assets Under Management (AUM), and trade volume for the Bitwise 10 Crypto Index Fund <a href=\"https:\/\/twitter.com\/search?q=%24BITW&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITW<\/a> on December 16, 2020. <a href=\"https:\/\/t.co\/r6HvyJ9BIc\">pic.twitter.com\/r6HvyJ9BIc<\/a><\/p>\n<p>\u2014 Bitwise (@BitwiseInvest) <a href=\"https:\/\/twitter.com\/BitwiseInvest\/status\/1339326680175767555?ref_src=twsrc%5Etfw\">December 16, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On December 16, on the OTCQX over-the-counter market, the BITW ticker shares closed at $141. The NAV of the basket of ten cryptocurrencies underlying the fund was valued at $19.89. The company notes that the latest figure is recalculated hourly during the OTCQX trading session. The cap-weighted basket of the ten largest cryptocurrencies is reviewed monthly.<\/p>\n<div id=\"attachment_119822\" style=\"width: 1237px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119822\" class=\"wp-image-119822 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-December-17-2020-12_33-PM.png\" alt=\"Premium of Bitwise crypto fund shares relative to cryptocurrencies reaches 660%\" width=\"1227\" height=\"563\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-December-17-2020-12_33-PM.png 1227w, https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-December-17-2020-12_33-PM-300x138.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-December-17-2020-12_33-PM-1024x470.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Clipboard-December-17-2020-12_33-PM-768x352.png 768w\" sizes=\"auto, (max-width: 1227px) 100vw, 1227px\" \/><\/p>\n<p id=\"caption-attachment-119822\" class=\"wp-caption-text\">Source: Bitwise Investments.<\/p>\n<\/div>\n<p>Bloomberg noted that the premium of the fund price over NAV indicates that institutional and retail investors are willing to pay an exceptionally high premium for access to cryptocurrencies through a fund vehicle more familiar to them than direct asset purchases. Usually, this premium does not exceed 3%.<\/p>\n<p>In an interview with <a href=\"https:\/\/cointelegraph.com\/news\/bitwise-10-crypto-index-trades-at-369-premium-in-record-breaking-debut\" target=\"_blank\" rel=\"noopener noreferrer\">Cointelegraph<\/a> the Multicoin Capital managing partner Kyle Samani described those who buy this fund at such a premium as ignorant.<\/p>\n<blockquote>\n<p>&#8220;I don&#8217;t think they can justify the premium. They don&#8217;t know what they are buying. It&#8217;s not warranted, it&#8217;s simply ignorance,&#8221; he said.<\/p>\n<\/blockquote>\n<p>In the early days after the Bitwise fund was listed on OTCQX, <a href=\"https:\/\/u1f987.com\/en\/news\/bitwise-10-crypto-index-fund-shares-outperform-grayscales-ethereum-trust\">proved to be<\/a> more popular than Grayscale&#8217;s Ethereum Trust. Assets under management for Bitwise 10 Crypto Index Fund stood at $115 million (now $174 million) versus $1.6 billion in Grayscale Ethereum Trust.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bitwise 10 Crypto Index Fund shares trade at 7.6 times the NAV of the basket of ten cryptocurrencies, including Bitcoin and Ethereum, that underlie the fund.<\/p>\n","protected":false},"author":1,"featured_media":33556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[949,1156],"class_list":["post-33555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitwise","tag-institutional-investors-and-whales"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33555"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33555\/revisions"}],"predecessor-version":[{"id":33557,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33555\/revisions\/33557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33556"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}