Management company digital assets, Morgan Creek Digital, the investment company Morgan Creek Capital Management, in partnership with Bitwise Asset Management has launched a cryptocurrency index Fund Index Fund Digital Asset.
In the inspection Committee of the Fund became the head of Morgan Creek with mark Yusko (Mark Yusko), a partner of Morgan Creek Digital Pompliano Anthony (Anthony Pompliano) and head of Department of research in Bitwise Asset Management Matt Hougan (Matt Hougan). In the autumn the company Cohen&Company will be engaged in the audit of the Fund and will annually publish relevant reports, and 100% of its assets will be stored in a cold wallet.
It is expected that the product will be attractive to institutional investors. According to Mark Yusko, in the long term, the Fund should become the new standard for the entire industry. 70% of its portfolio of accounts to bitcoin and the rest for Ethereum, Bitcoin Cash, EOS, Litecoin, zcash for, Monero, Dash, Ethereum Classic and Omisego. Rebalancing a portfolio consisting of 10 leading cryptocurrency, they plan to hold monthly. This will take into account their market capitalization, concentration of trade, the availability of custody decisions and the constraints preminum.
So at the stage of launching a new product, the creators decided not to include tokens startups Ripple and Stellar, explaining that will not work with cryptocurrencies, the production of which is carried out through PreMain. As explained by Anthony Pompliano, it is associated with risks of centralization and market manipulations that are possible in a situation when companies control 30% of the issue their tokens or more. Co-founder of Bitwise Asset Management hunter HORSLEY (Horsley Hunter) also added that cryptocurrencies with preminum raised concerns not only because of the risk of fraud on the part of large holders of these assets, but also because of the possible classification of their regulators as securities.
Recall that in the autumn of last year, with the support of influential kriptonyte individuals, the company founders Asset Management Bitwise hunter HORSLEY, and Hong Kim (Kim Hong) has launched a cryptocurrency index Fund HOLD 10. Mark Yusko insists that the bitcoin will rise to $500 thousand per unit by 2024. And Pompliano believes that this year the price of bitcoin could fall to $3000.