BITW - BITW: Holdings Assessment (Rating Upgrade)
2024-04-27 12:17:43 ET
Summary
- BITW offers investors exposure to 10 different digital assets - each of which are ranked among the top 25 in the space.
- With the overwhelming majority of fund allocation still going to Bitcoin and Ethereum, the fund's total return has performed largely in line with BTC.
- Of the fund's ten holdings, most have generally positive network trends. However, there are a few that look less than promising at this point.
Back in October 2023, I covered the Bitwise 10 Crypto Index Fund ( BITW ) for Seeking Alpha and compared it with the Grayscale Digital Large Cap Fund ( GDLC ). My main takeaways from that article can be summarized as follows:
- BITW has a better methodology for designating fund inclusion than GDLC
- BITW has a lower weighting to Bitcoin ( BTC-USD ) and Ethereum ( ETH-USD ) than GDLC
- BITW historically trades at a larger discount to net asset value than GDLC