LPL Financial Approves Bitwise 10 Crypto Index Fund on Its Platform

Bitwise Asset Management, the largest cryptocurrency index fund manager, announced today that the Bitwise 10 Crypto Index Fund (OTCQX: BITW) has been approved for both solicited and unsolicited trades on LPL Financial’s brokerage and advisory platforms. The fund was made available to LPL’s affiliated advisors on June 28, 2021.

The Bitwise 10 Crypto Index Fund offers advisors a way to access diversified exposure to the cryptocurrency asset class for their clients. The fund seeks to track a market-capitalization-weighted index of the 10 largest cryptoassets, including bitcoin, ethereum, ethereum competitors, and DeFi assets. All assets are screened for important risk factors before being made eligible for inclusion in the index. The index is rebalanced monthly to stay up to date with the market.

The fund is managed by Bitwise Asset Management, a specialist cryptoasset manager founded in 2017 with over $1.2B in AUM.¹

“The Bitwise 10 Crypto Index Fund makes it easier for advisors to allocate to the cryptocurrency market as a whole without having to pick specific tokens or constantly monitor the rapid changes taking place in the industry,” said Mick McLaughlin, Managing Director and Head of Distribution at Bitwise Asset Management. “Our nationwide distribution team stands ready to help advisors navigate this space and, where appropriate, evaluate if and how to incorporate crypto into client portfolios.”

“We built Bitwise specifically to serve financial advisors, with products, education, and boots-on-the-ground distribution support,” added Hunter Horsley, Bitwise’s CEO. “We serve hundreds of RIA firms across the country today, and are thrilled that BITW is now available to LPL’s 17,000+ affiliated financial advisors. We admire LPL’s forward-thinking mindset toward the space.”

Bitwise’s research team provides in-depth and ongoing analysis of the crypto market that is designed to help advisors understand, evaluate and, where appropriate, allocate to the rapidly emerging space. In January, Bitwise CIO Matt Hougan and Director of Research David Lawant authored the CFA Research Institute’s first Research Brief on crypto, titled “Cryptoassets: The Guide to Bitcoin, Blockchain, and Cryptocurrency for Investment Professionals.”

More than 250 financial advisory firms use Bitwise’s research, educational tools, investment products and support services to steward investments on behalf of clients. To learn more about the Bitwise 10 Crypto Index Fund and Bitwise, please visit www.bitwiseinvestments.com or reach out to your local distribution team representative.