The digital asset manager said institutional investors are demanding more exposure to the leading DeFi tokens
Bitwise, the world’s leading crypto index fund manager, is expanding the number of cryptocurrency funds available to institutional investors. The firm announced yesterday that it had launched funds for leading decentralised finance (DeFi) tokens Aave and Uniswap.
The digital asset manager announced this latest development in a press release, stating that more Wall Street-like clients are demanding access to DeFi tokens. The Bitwise Uniswap (UNI) Fund and the Bitwise Aave (AAVE) Fund join the Bitwise DeFi Crypto Index Fund, making it easy for investors to access the emerging DeFi space.
Matt Hougan, CIO of Bitwise, said there is a growing demand for DeFi tokens from financial advisors, hedge funds, institutions and other professional investors.
“Uniswap and Aave are the two largest DeFi protocols in our DeFi index and are the largest decentralized exchange and decentralized lending protocol in the world, respectively. Bitwise’s vision is to make the opportunities emerging in crypto more accessible, and we’re thrilled to take another step with the world’s first Uniswap and Aave investment funds,” he added.
According to the digital asset manager, the Bitwise Uniswap Fund will invest directly in UNI, Uniswap’s governance token. Furthermore, the Bitwise Aave Fund will invest directly in AAVE, the utility token of the Aave protocol.
Uniswap is one of the leading decentralised cryptocurrency exchanges in the world, handling hundreds of millions of dollars in trading volume per month. Meanwhile, Aave is a leading decentralised and non-custodial lending and borrowing protocol. As of July 2021, the total outstanding loans on the Aave platform were about $6.92 billion.
Bitwise had previously limited its funds to Bitcoin and Ether, plus a few indexes, including one for DeFi.