The DeFi virus is spreading.
Cryptocurrency asset manager Bitwise Asset Management has added two new DeFi blue chips to its Bitwise 10 Large Cap Crypto Index as part of the January month-end index rebalance.
“DeFi assets entering the Bitwise 10 Large Cap Crypto Index is a milestone event,” said Matt Hougan, Chief Investment Officer at Bitwise.
The Bitwise 10 Large Cap Crypto Index (BITX) tracks a total return of the 10 largest crypto assets, which is measured and weighted by their free-float market capitalization and is currently trading at $36,286.
The Index now tracks Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), EOS, Tezos (XTZ), Stellar (XLM), Chainlink (LINK), Uniswap (UNI), and Aave (AAVE). Hunter Horsley, chief executive officer at Bitwise, said,
“The last few weeks has seen de-platforming & censorship by some of our country's leading companies. In response, new decentralized services—with no corporation, executives, or board—are growing in popularity. Today, the 1st decentralized exchange (UNI) entered the Bitwise 10.”
Just last month, Bitwise liquidated its just over $9 million worth of position in XRP, representing approximately 3.8% share of the Fund, in response to the US Securities and Exchange Commission (SEC) suing Ripple And its top executives for allegedly selling unregistered securities XRP.
“The Bitwise 10 Crypto Index Fund does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws,” said the company at the time.
Bitwise is not the only one to provide its clients exposure to the world of decentralized finance through the popular DeFi tokens. As we reported, the largest asset manager Grayscale Investments has also filed with the SEC for several single-asset trusts that cover various DeFi tokens, including Aave.
The post Bitwise 10 Large Cap Index Adds AAVE and Uniswap; CIO Calls DeFi Inclusion a ‘Milestone Event’ first appeared on BitcoinExchangeGuide.from BitcoinExchangeGuide https://bitcoinexchangeguide.com/bitwise-10-large-cap-index-adds-aave-and-uniswap-cio-calls-defi-inclusion-a-milestone-event/
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