Hoping to capitalize on the rebounding crypto markets, San Francisco-based crypto index fund provider Bitwise has rolled out BWEB, a new Web3 exchange-traded fund (ETF).
ETFs are financial instruments that trade on an exchange like stock, but track a specific market or asset, such as bitcoin (BTC).
“Today, many experts believe we’re on the cusp of a major evolution in the core architecture of the internet,” Matt Hougan, Bitwise’s Chief Investment Officer, said in a statement. “With the Bitwise Web3 ETF, we’re excited to give investors the opportunity to capture one of the fastest-emerging themes in technology through a diverse mix of companies that we believe will lead the charge.”
“More than 85% of the index is comprised of 'pure-play' companies directly linked to Web3 themes and business activities,” the statement said.
A factsheet presenting the product states that, as of October 4, the ETF’s top ten holdings included crypto exchange Coinbase, online gaming platform Roblox, data...
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