The index and fund hold up to 40 crypto assets that are essential to the function and growth of the rapidly emerging Metaverse.
Bitwise Asset Management, the world’s leader in crypto index funds, today announced that it has partnered with Matthew Ball, a prominent Metaverse investor and CEO of Epyllion Crypto Research, and Multicoin Capital, the leading thesis-driven crypto investment firm, to launch the Ball Multicoin Bitwise Metaverse Index, a Metaverse-focused crypto index featuring up to 40 leading crypto assets. A fund tracking the index is also now available to qualified purchasers through Bitwise.
The index relies on the combined expertise and proprietary research of the three partners to determine which crypto assets are central to the Metaverse, while screening for risks around liquidity, regulation, and asset integrity. It adds discretionary overweights to capture or increase exposure to assets that, in the view of the index’s governing committee, have high growth potential.
“In the coming decades, we believe that tens of trillions of dollars in value will be created and reallocated to support the Metaverse, and that nearly every consumer, country, and market will be affected,” said Matthew Ball. “In support of this transformation, we will need many new protocols, standards, and systems. In addition, we need these new technologies to be able to harness the combined might of every willing user and developer in the world, while also ensuring the Metaverse (and its profits, data, and opportunities) are available to every deserving user and developer in the world. Investors are right to see blockchains as a key part of this future—and to value a discerning but diversified approach to investing in this dynamic technology. With strong track records of operational excellence in crypto markets, Multicoin Capital and Bitwise are great partners to work with to bring the first Metaverse crypto index to life.”
“The Metaverse is one of the most audacious and exciting ideas ever conceived. However, in order for it to be vastly accessible, it must be built on an open, decentralized, credibly neutral foundation, which means it must be built in large part with crypto assets and public blockchains,” said Kyle Samani, Managing Partner at Multicoin Capital. “With literally thousands of crypto assets to choose from, underwriting the most investable opportunities is a never-ending challenge. We are excited to launch this index in partnership with Matthew Ball and Bitwise to help investors navigate this exciting opportunity and to help them get exposure to the assets that will power the Metaverse.”
“Our goal at Bitwise has always been to help investors access the most important themes in crypto over the long term,” said Bitwise Chief Investment Officer Matt Hougan. “The Metaverse is one of those themes: a trend and category that we believe will have a lasting impact on the way people work, play, communicate, and transact. With this fund, our indexed approach is designed to capture a broad range of crypto projects, across a diverse set of themes, that are critical to the success of the Metaverse. We are thrilled to partner with thought leaders Ball and Multicoin Capital to bring this dynamic product to market.”
The Ball Multicoin Bitwise Metaverse Index Fund is currently available to qualified purchasers for private placement subscription with a $100,000 minimum investment. It will provide monthly redemptions subject to certain restrictions.
About Matthew Ball and Epyllion Crypto Research
Matthew Ball is the CEO of Epyllion, a Metaverse-focused holding company. Epyllion operates an early stage venture fund, venture advisory business, corporate advisory business, and TV/film/game production company. Ball is also a Venture Partner at Makers Fund, an Advisor to KKR, sits on the board of numerous start-ups, is Co-Founder of Ball Metaverse Research Partners—the index provider behind the first and largest Metaverse-themed public equities ETF in the world—and is Co-Founder of Epyllion Crypto Research, which co-manages the Ball Multicoin Bitwise Metaverse Index. Ball’s essays on the Metaverse have been touted by the CEOs of Meta, Unity, Microsoft Gaming, Epic Games, Sony, Netflix, and more, as well as outlets including The Financial Times, The New York Times, BBC, The Economist, and The New Yorker.
About Multicoin Capital
Multicoin Capital is a thesis-driven investment firm investing in cryptocurrencies, tokens, and blockchain companies. Crypto networks and companies will create trillions of dollars of value over the next decade. But investing in tokens is fundamentally different than investing in companies. New tools, heuristics, and security measures are needed to responsibly invest in this ecosystem. We leverage our deep understanding of blockchain technology and crypto markets to deliver exceptional returns. For more information, visit: https://multicoin.capital.
About Bitwise Asset Management
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers. As of March 31, 2021, Bitwise managed more than $1.2 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 indexes. 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, coming from firms including BlackRock, Blackstone, Meta, and Google, as well as the U.S. 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.
RISK DISCLOSURE AND IMPORTANT INFORMATION
Carefully consider the investment objectives, risk factors, and charges and expenses of any Bitwise investment product before investing. Investing involves risk, including the 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 any 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 into any Bitwise investment product, and an investor may lose money. Investors into 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. Bitwise investment products involve a substantial degree of risk and are available only to institutional and individual accredited investors.
Certain of the Bitwise investment products may be subject to the risks associated with investing in crypto assets, including cryptocurrencies and crypto tokens. Because crypto assets 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 impacted by the transactions of a small number of holders of such crypto asset. Crypto assets may decline in popularity, acceptance or use, which may impact their price. The technology relating to crypto assets and blockchain is new and developing. Currently, there are a limited number of publicly listed or quoted companies for which crypto assets and blockchain technology represent an attributable and significant revenue stream.
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 it should not be relied upon as such.
This material represents an assessment of the market environment at a specific 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 security in particular. Past performance is no guarantee of future results.
Bitwise may attempt to have shares of its investment products quoted on a secondary market. However, there is no guarantee 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 obtain such an approval due to a variety of factors, including questions that regulators such as the 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 investment in the shares indefinitely.
Diversification may not protect against market risk. Diversification does not ensure a profit or protect against a loss in a declining market.
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The offer and sale of these investment products have not been registered with or approved or disapproved of by the Securities and Exchange Commission or the securities commission or regulatory authority of any state or foreign jurisdiction.
In general, Metaverse protocols do not operate on a native blockchain, but rather are built and operated on 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 on the underlying blockchain network could have a negative effect on the operation of the Metaverse protocol and, as a result, could impact the price of the Metaverse protocol’s digital asset. Such adverse impacts can include, but are not limited to, technical bugs, hacks, 51% attacks, or network congestion due to, among other issues, high fees.
Bitwise Investment Advisers, LLC, serves as the sponsor of the fund and is not affiliated with Matthew Ball, Epyllion, or Multicoin Capital.
Frank Taylor / Ryan Dicovitsky
Dukas Linden Public Relations