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First Crypto ETF Just Launched in the U.S.

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Wed, 05/12/2021 - 15:50
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Alex Dovbnya
Bitwise's "crypto" ETF offers exposure to the leading companies within the industry
First Crypto ETF Just Launched in the U.S.
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The very first exchange-traded fund with the word "crypto" in its name has been launched in the U.S. by $1.5 billion digital asset fund manager Bitwise, the company announced in its May 12 press release.

The ETF, which is called "Crypto Industry Innovators 30 Index," will offer exposure to publicly listed cryptocurrency companies such as leading U.S. exchange Coinbase.

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Only "pure-play" names with "material activity" in the industry, and at least $100 million worth of assets will be included in the index.

While Bitwise rolled out the first "crypto" ETF, there are numerous ETFs that target companies within the blockchain and mining sector.

Yet, the U.S. Securities and Exchange Commission is yet to approve an ETF that directly tracks the price of Bitcoin as a growing number of applications continues to drum up enthusiasm.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.