Bitwise Crypto Industry Innovators ETF (NYSE

BITQ) Crosses $100M in Assets Under Management

Bitwise Asset Management, one of the world’s leading crypto asset managers, announced today that the Bitwise Crypto Industry Innovators ETF (NYSE: BITQ) recently surpassed $100 million in assets under management. The milestone comes amid what many consider a turning point for the crypto sector, which has seen positive industry developments, strong market performance, and growing investor interest throughout 2023. As of June 30, bitcoin had risen more than 83% year-to-date,¹ while BITQ was up more than 135% over the same period.²

Since the fund’s inception in 2021, investors have utilized BITQ for its potential impact on portfolio diversification and as a way to access an emerging growth sector through a traditional equity ETF vehicle.

“We’re proud that investment professionals continue to trust BITQ to get exposure to the bitcoin and digital asset economy through a carefully designed, traditional equity ETF,” said Mick McLaughlin, Chief Distribution Officer at Bitwise Asset Management. “We’re grateful to our clients for this milestone and for the privilege of being their partner.”

The first crypto industry ETF, BITQ seeks to track an index designed by Bitwise that consists of leading companies driving the fast-growing crypto economy. At each rebalancing, at least 85% of BITQ’s holdings are “pure-play” firms, which derive more than three-quarters of their revenue from crypto-related businesses, while up to 15% of holdings are reserved for more diversified companies making meaningful investments in the space.

Founded in 2017, Bitwise manages a broad suite of 18 professional investment solutions, including ETFs, publicly traded trusts, SMA strategies, multi-strategy solutions, and private funds. The firm is known for its nationwide distribution team of crypto specialists, five-year track record, and industry-leading research, including its quarterly reports, white papers, and weekly CIO memo. Today, over 1,800 wealth teams, RIAs, family offices, and institutional investors leverage Bitwise to understand and access crypto markets strategically.

Bitwise developed the Bitwise Crypto Innovators 30 Index on which BITQ is based with input from Morningstar-owned Moorgate Benchmarks, a London-based index calculation and benchmark administration firm known for its expertise in the index space. Exchange Traded Concepts, an ETF platform provider, serves as the investment adviser to the BITQ fund, and SEI Investments Distribution Co., a provider of technology and investment solutions for the financial services industry, is the fund’s distributor.