Bitwise Announces October 2022 Month End Crypto Index Reconstitution Results
Litecoin (LTC) re-enters Bitwise 10 Large Cap Crypto Index and Bitwise 10 ex Bitcoin Large Cap Crypto Index
SAN FRANCISCO, November 1, 2022–(BUSINESS WIRE)–Bitwise Index Services, the indexing subsidiary of Bitwise Asset Management, today announced the results of the monthly reconstitution of the Bitwise Crypto Indexes, which took place on October 31, 2022, at 4:00 PM ET.
There was one change in the components of the Bitwise 10 Large Cap Crypto Index as a result of the reconstitution on October 31, 2022: Litecoin (LTC) re-entered the index, replacing Chainlink (LINK). From 31 October 2022, at 4:00 PM ET, the Bitwise 10 Large Cap Crypto Index had the following constituents: 61.11% Bitcoin (BTC), 29.46% Ethereum (ETH), 2.21% Cardano (ADA), 1.83% Solana (SOL) ), 1.23% Polygon (MATIC), 1.21% Polkadot (DOT), 0.88% Avalanche (AVAX), 0.81% Uniswap (UNI), 0.65% Cosmos (ATOM) and 0.61% Litecoin (LTC).
There were no changes in the components of the Bitwise Decentralized Finance Crypto Index as a result of the reconstitution on October 31, 2022. As of October 31, 2022, at 4:00 PM ET, the Bitwise Decentralized Finance Crypto Index had the following constituents: 53.49% Uniswap (UNI), 12.12% Aave (AAVE), 8.37% Maker (MKR), 4.87% Lido DAO (LDO) ), 4.81% Curve DAO Token (CRV), 3.88% Convex Finance (CVX), 3.73% Compound (COMP), 3.50% Loopring (LRC), 3.05% Yearn Finance (YFI) and 2 .20% 0x (ZRX).
There was one change in the components of the Bitwise 10 ex Bitcoin Large Cap Crypto Index as a result of the reconstitution on October 31, 2022: Litecoin (LTC) re-entered the index, replacing Chainlink (LINK). From 31 October 2022, at 4 PM ET, the Bitwise 10 ex Bitcoin Large Cap Crypto Index had the following constituents: 75.76% Ethereum (ETH), 5.69% Cardano (ADA), 4.69% Solana (SOL), 3.16% Polygon (MATIC) , 3.11% Polkadot (DOT), 2.26% Avalanche (AVAX), 2.09% Uniswap (UNI), 1.67% Cosmos (ATOM) and 1.58% Litecoin (LTC).
The Bitwise Crypto Indices are reconstituted on a monthly basis according to the rules of the Bitwise Crypto Index Method used by the Bitwise Crypto Index Committee. The minutes of the October 2022 Bitwise Crypto Index Committee meeting are publicly available here.
The Ball Multicoin Bitwise Metaverse Index is reconstituted in February, May, August and November, and had no changes as a result of the reconstitution on October 31, 2022. As of October 31, 2022, at 4:00 PM ET, the Ball Multicoin Bitwise Metaverse Index had 27 constituents. The following were the top 10 components of the Ball Multicoin Bitwise Metaverse Index: 9.69% Ethereum (ETH), 9.00% Chainlink (LINK), 8.92% Polygon (MATIC), 7.72% Filecoin (FIL), 7 .72% Solana (SOL), 6.60% Binance Coin (BNB), 5.88% Uniswap (UNI), 5.08% Arweave (AR), 4.15% Ethereum Name Service (ENS) and 4.07 % Graph Protocol (GRT). The index methodology for the Ball Multicoin Bitwise Metaverse Index is available here.
The Bitwise Crypto Innovators 30 Stock Index is reconstituted quarterly and as a result had no changes as of October 31, 2022. As of October 31, 2022 at As of 4:00 PM ET, the top 10 constituents of the Bitwise Crypto Innovators 30 Index were: 14.37% MicroStrategy (MSTR), 11.89% Coinbase Global Inc. (COIN), 7.76% Silvergate Capital (SI), 6.51 % Hut 8 Mining (HUT CN), 6.07% Marathon Digital Holdings (MARA), 5.48% Riot Blockchain (RIOT) ), 5.06% Galaxy Digital Holdings (GLXY CN), 4.50% Canaan Inc. (CAN), 4.39% Bakkt Holdings (BKKT) and 3.42% HIVE Blockchain (HIVE CN). The index methodology for the Bitwise Crypto Innovators 30 Stock Index is available here.
The Bitwise Blue-Chip NFT Collections Index is reconstituted quarterly and as a result had no changes as of October 31, 2022. As of October 31, 2022, at 4:00 PM ET, the Bitwise Blue-Chip NFT Collections Index had the following constituents: 30.05% Bored Ape Yacht Club, 28.66% CryptoPunks, 10.97% Mutant Ape Yacht Club, 6.67% CloneX, 6.51% Chromie Squiggle, 5 .18% Azuki, 3.66% Moonbirds, 2.87% Doodles, 2.12% Mees. The index methodology for the Bitwise Blue-Chip NFT Collections Index is available here.
About Bitwise Asset Management
Based in San Francisco, Bitwise is one of the largest and fastest growing crypto asset managers. By the end of 2021, Bitwise managed over $1.3 billion across an expanding suite of investment solutions. The firm is known for managing the world’s largest crypto index fund (OTCQX: BITW) and pioneering products spanning Bitcoin, Ethereum, DeFi and crypto-focused equity indices. Bitwise focuses on partnering with financial advisors and investment professionals to provide quality education and research. The team at Bitwise combines expertise in technology with decades of experience in traditional asset management and indexing, from firms including BlackRock, Blackstone, Facebook and Google, as well as the US Attorney’s Office. Bitwise is backed by leading institutional investors and asset management executives, and has been profiled in Institutional Investor, CNBC, Barron’s, Bloomberg and The Wall Street Journal.
RISKS AND IMPORTANT INFORMATION
Carefully consider the investment objectives, risk factors and fees and expenses of any Bitwise investment product before investing. Investment involves risk, including possible loss of principal. There is no guarantee or assurance that the methodology used by Bitwise or any of the Bitwise Investment Products will result in a Bitwise Investment Product achieving positive investment returns or outperforming other investment products. There is no guarantee or assurance that an investor’s investment objectives will be met through an investment in a Bitwise investment product, and an investor may lose money. Investors in any Bitwise investment product should be willing to accept a high degree of volatility in the price of such investment product and the possibility of significant losses. Piecemeal investment products involve a significant degree of risk. Certain Bitwise investment products may be available only to institutional and individual accredited investors.
Some of the Bitwise investment products may be subject to the risks associated with investing in crypto-assets, including cryptocurrencies and crypto-tokens. Because cryptoassets are a new technological innovation with a limited history, they are a highly speculative asset. Future regulatory actions or policies may limit the ability to sell, exchange or use a crypto asset. The price of a crypto-asset may be affected by the transactions of a small number of holders of such crypto-asset. Crypto-assets may decline in popularity, acceptance or use, which may affect their price. The technology related to cryptoassets and blockchain is new and under development. Currently, there are a limited number of listed or listed companies where crypto assets and blockchain technology represent an attributable and significant revenue stream.
NFTs are an extremely new artistic and cultural phenomenon, and interest in such works of art may be waning. If the demand for NFT artwork decreases, the prices of NFT goods may be adversely affected. The market for NFTs may be subject to shallow trading volume, extreme hoarding, low liquidity and high bankruptcy risk. NFTs are also exposed to risks and challenges related to intellectual property rights and fraud.
In general, Metaverse protocols do not operate on a native blockchain, but are built and operated in other public blockchain networks. As a result, a Metaverse protocol does not control the blockchain network on which it operates. Any adverse impacts or changes to the underlying blockchain network may have an adverse effect on the operation of the Metaverse Protocol and, as a result, may affect the price of the Metaverse Protocol digital asset. Such adverse effects may include, but are not limited to, technical errors, hacks, 51% attacks or network congestion due to, among other things, high fees.
The opinions expressed herein are intended to provide insight or education and are not intended as individual investment advice. Bitwise does not represent that this information is accurate and complete and should not be relied upon as such.
This material represents an assessment of the market environment at a particular time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the Funds or any particular security. Past results are no guarantee of future results.
Diversification may not protect against market risk. Diversification does not ensure profits or protect against losses in a falling market.
Bitwise may seek to have shares of its investment products listed on a secondary market. However, there is no guarantee that this will be successful. Although the shares of certain Bitwise investment products have been approved for trading on a secondary market, investors in any other Bitwise investment product should not assume that the shares will ever receive such approval due to a number of factors, including matters such as regulators such as SEC, FINRA or other regulatory bodies may have regarding the investment product. Shareholders of such investment products should be prepared to bear the risk of investing in the shares indefinitely.
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