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Bitwise Announces Results of December 2022 Month-End Crypto Index Reconstitution
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Bitwise Index Services has announced the results of its monthly reconstitution of the Bitwise Crypto Indexes. As of December 30, 2022, Intel (INTC), CBOE Global Markets (CBOE), Nu Holdings (NU), and Applied Blockchain (APLD) have been added to the Bitwise Crypto Innovators 30 Index, while Nvidia (NVDA), AMD, and others have exited. The Bitwise 10 Large Cap Crypto Index remains unchanged, holding 63.53% Bitcoin (BTC) and 28.75% Ethereum (ETH). The reconstitution reflects ongoing developments in the cryptocurrency sector.
Positive
New entries into the Bitwise Crypto Innovators 30 Index can enhance visibility and investment interest for Intel (INTC), CBOE Global Markets (CBOE), Nu Holdings (NU), and Applied Blockchain (APLD).
The Bitwise 10 Large Cap Crypto Index remains stable, maintaining key holdings in Bitcoin and Ethereum, which could indicate market resilience.
Negative
Exit of established companies like Nvidia (NVDA) and AMD from the Bitwise Crypto Innovators 30 Index may reflect declining confidence or performance in the cryptocurrency sector.
Intel (INTC), CBOE Global Markets (CBOE), Nu Holdings (NU), and Applied Blockchain (APLD) enter the Bitwise Crypto Innovators 30 Index; Intel (INTC), Nike (NKE), CleanSpark (CLSK), and Applied Blockchain (APLD) enter the Bitwise Web3 Index; no changes to the Bitwise 10 Large Cap Crypto Index.
SAN FRANCISCO--(BUSINESS WIRE)--
Bitwise Index Services, the indexing subsidiary of Bitwise Asset Management, today announced the results of the monthly reconstitution of the Bitwise Crypto Indexes, which took place on December 30, 2022, at 4 p.m. ET.
The Bitwise 10 Large Cap Crypto Index had no changes as a result of the December 30, 2022 reconstitution. As of December 30, 2022, at 4 p.m. ET, the Bitwise 10 Large Cap Crypto Index held the following constituents: 63.53% Bitcoin (BTC), 28.75% Ethereum (ETH), 1.71% Cardano (ADA), 1.32% Polygon (MATIC), 1.02% Polkadot (DOT), 0.98% Litecoin (LTC), 0.76% Uniswap (UNI), 0.72% Solana (SOL), 0.68% Avalanche (AVAX), and 0.53% Chainlink (LINK).
The Bitwise Decentralized Finance Crypto Index had no changes as a result of the December 30, 2022 reconstitution. As of December 30, 2022, at 4 p.m. ET, the Bitwise Decentralized Finance Crypto Index held the following constituents: 57.08% Uniswap (UNI), 11.12% Aave (AAVE), 7.00% Maker (MKR), 4.49% Lido DAO (LDO), 4.18% Curve DAO Token (CRV), 3.51% Loopring (LRC), 3.50% Convex Finance (CVX), 3.32% Compound (COMP), 2.98% Balancer (BAL), and 2.81% Yearn Finance (YFI).
The Bitwise 10 ex Bitcoin Large Cap Crypto Index had no changes as a result of the December 30, 2022 reconstitution. As of December 30, 2022, at 4 p.m. ET, the Bitwise 10 ex Bitcoin Large Cap Crypto Index held the following constituents: 78.81% Ethereum (ETH), 4.70% Cardano (ADA), 3.62% Polygon (MATIC), 2.80% Polkadot (DOT), 2.68% Litecoin (LTC), 2.09% Uniswap (UNI), 1.98% Solana (SOL), 1.85% Avalanche (AVAX), and 1.47% Chainlink (LINK).
The Bitwise Crypto Indexes are reconstituted on a monthly basis according to the rules of the Bitwise Crypto Index Methodology as applied by the Bitwise Crypto Index Committee. Minutes of the December 2022 Bitwise Crypto Index Committee meeting are publicly available here.
The Ball Multicoin Bitwise Metaverse Index reconstitutes in February, May, August, and November, and as a result had no changes as a result of the December 30, 2022 reconstitution. As of December 30, 2022, at 4 p.m. ET, the Ball Multicoin Bitwise Metaverse Index had 25 constituents. The following were the 10 largest constituents of the Ball Multicoin Bitwise Metaverse Index: 13.53% Polygon (MATIC), 11.66% Ethereum (ETH), 6.90% Filecoin (FIL), 6.79% Chainlink (LINK), 6.41% Uniswap (UNI), 6.05% Binance Coin (BNB), 5.46% The Graph (GRT), 5.02% Arweave (AR), 4.68% Solana (SOL), and 4.38% Avalanche (AVAX). The index methodology for the Ball Multicoin Bitwise Metaverse Index is available here.
The Bitwise Crypto Innovators 30 Index of equities reconstitutes quarterly and had the following changes as of December 30, 2022: Intel (INTC), CBOE Global Markets (CBOE), Nu Holdings (NU), and Applied Blockchain (APLD) entered, and Nvidia (NVDA), Advanced Micro Devices (AMD), Signature Bank (SBNY), Greenidge Generation Holdings (GREE), and Terawulf (WULF) exited. As of December 30, 2022 at 4 p.m. ET, the following were the 10 largest constituents of the Bitwise Crypto Innovators 30 Index: 11.77% Galaxy Digital Holdings (GLXY CN), 9.76% Coinbase Global Inc. (COIN), 8.99% MicroStrategy (MSTR), 5.16% Applied Blockchain (APLD), 4.65%Canaan Inc. (CAN), 4.46% Northern Data (NB2 GR), 4.09% Hut 8 Mining (HUT), 4.04% Riot Blockchain (RIOT), 4.02% CleanSpark Inc. (CLSK), and 3.88% Silvergate Capital (SI). The index methodology for the Bitwise Crypto Innovators 30 Index of equities is available here.
The Bitwise Web3 Equities Index reconstitutes quarterly and had the following changes as of December 30, 2022: Intel (INTC), Nike (NKE), CleanSpark Inc. (CLSK), and Applied Blockchain (APLD) entered, and PayPal (PYPL), Advanced Micro Devices (AMD), Shopify Inc. (SHOP), and HIVE Blockchain (HIVE CN) exited. As of December 30, 2022 at 4 p.m. ET, the following were the 10 largest constituents of the Bitwise Web3 Equities Index: 9.26% Meta Platforms (META), 9.01% Equinix (EQIX), 7.96% Roblox Corp (RBLX), 7.06% Coinbase Global (COIN), 6.63% Unity Software (U), 4.87% Take-Two Interactive Software (TTWO), 4.75% Cloudflare (NET), 4.70% Electronic Arts (EA), 4.68% Block (SQ), and 4.57% Akamai Technologies (AKAM). The index methodology for the Bitwise Web3 Equities Index is available here.
The Bitwise Blue-Chip NFT Collections Index reconstitutes quarterly and had no changes as of December 30, 2022. As of December 30, 2022, at 4 p.m. ET, the Bitwise Blue-Chip NFT Collections Index held the following constituents: 30.17%Bored Ape Yacht Club, 28.17% CryptoPunks, 13.34%Mutant Ape Yacht Club, 6.35% Chromie Squiggle, 5.89% Azuki, 4.80% CloneX, 3.23% Moonbirds, 3.09% Meebits, 2.67% Doodles, and 2.29% VeeFriends. The index methodology for the Bitwise Blue-Chip NFT Collections Index is available here.
About Bitwise Asset Management
Based in San Francisco, Bitwise is one of the largest and fastest-growing crypto asset managers. 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, Facebook 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.
RISKS 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. Certain Bitwise investment products may be 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.
NFTs are an extremely new artistic and cultural phenomenon, and interest in such artwork could wane. If the demand for NFT artwork diminishes, the prices of NFT items could be negatively affected. The market for NFTs can be subject to shallow trade volume, extreme hoarding, low liquidity and high bankruptcy risk. NFTs are also subject to risks and challenges associated with intellectual property rights and fraud.
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.
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.
Diversification may not protect against market risk. Diversification does not ensure a profit or protect against a loss in a declining market.
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.
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.
