The world’s first and largest crypto index fund manager, Bitwise Asset Management disclosed the growing institutional demand for active strategies. Therefore, the company is announcing the launch of its Active Strategies team with industry leading personalities and their roles. It is the 10th crypto index fund by Bitwise. BITW was the first index fund launched in 2017.
1/ Today, I'm excited to unveil something we've been working on at @BitwiseInvest for over a year —
Bitwise is expanding into active.https://t.co/u3Tbm4asmx
We've had a front row seat in crypto for over 5 years. The future is bright & opportunities are expanding.
— Hunter Horsley (@HHorsley) November 1, 2022
Matt Hougan, Bitwise chief investment officer, stated that crypto has previously moved in four-year cycles — with three years of rising prices and one year of declines. Hougan states:
“Amid this cycle’s consolidation, many investors have quietly been doing their work and now perceive opportunity. We see higher-quality and stronger tailwinds than ever before. We’re excited to add active strategies alongside our broad suite of index-based strategies to enable investors to access the opportunities in crypto.”
Jeffery Park to lead the new unit of Bitwise
Jeffrey Park will be the head of the new unit. Park, who joined Bitwise In February, worked at alternative asset management firm Corbin Capital Partners as a partner focused on research and portfolio management for 10 years.
“A new dimension of opportunity presents itself now as the market structure of liquid crypto has matured. We believe market-neutral, yield, arbitrage, and quantitative strategies can be combined with top-tier long-oriented approaches to create unique absolute return opportunities,” Park commented on the recent development.
Vincent Molino, is set to be the head operational due diligence for Bitwise’s active solutions after joining the company in May. He worked at Northern Trust, Mercer and EnTrustPermal.
Denny Peng teams up with Park and Molino as a risk manager. He joined Bitwise in September. He served at multi-strategy hedge fund complex Millennium Management.
This team will first focus on Absolute Return Funds strategies to give it some stability. The release of any actively managed investments which would be accessible on public exchanges has not yet been formally announced by Bitwise.
It is important to note that while talking in an interview with Bloomberg, Hunter Horsley, CEO of Bitwise, predicted the rise of the bull market in 2023 recently.