Morgan Creek Digital, Bitwise launch Digital Asset Index Fund for institutional investors

Digital asset management firm Morgan Creek Digital, in partnership with crypto investment startup Bitwise, has launched The Digital Asset Index Fund, designed for institutional investors.

The fund will provide endowments, foundations, pensions, wealthy families, and sovereign wealth funds access to broad-based digital asset exposure. It holds a market-cap-weighted basket of the top 10 largest digital assets, reconstituted monthly. As of August 27, 2018, the 10 constituents include Bitcoin, Ethereum, Bitcoin Cash, EOS, Litecoin, Dash, Zcash, Monero, Ethereum Classic, and OmiseGO.

"Institutional investors are seeing the market pullback as an opportunity start building exposure to the space, and have been pushing us to get this fund to market quickly," said Morgan Creek Digital Partner Anthony Pompliano. "We're excited to have The Digital Asset Index Fund up and running, creating a one-stop shop for institutional investors intent on securely capturing the significant value creation taking place in the crypto market today."

An index committee comprising of Mark Yusko, Morgan Creek CIO and former UNC Endowment CIO, as well as Anthony Pompliano, Partner at Morgan Creek Digital, and Bitwise Global Head of Research Matt Hougan will supervise the fund. Bitwise will serve as the fund manager.

"We're thrilled to partner with visionaries like Mark, Anthony, and the rest of the Morgan Creek Digital team to bring this new fund to market," said Bitwise CEO Hunter Horsley. "They're thought leaders, experts in asset allocation, and have spent over a decade earning the trust of their clients and institutional investors."