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Bitwise and Fidelity Looking to Capitalize on Web3 and Ethereum Sectors With New ETF Push – BeInCrypto

by Repost Admin October 5, 2022, 8:47 am 1.5k Views

Index fund manager Bitwise launched a new ETF that invests in companies in the Web3 space. Fidelity also announced a new fund called the Ethereum Index Fund that allows investment in Ethereum.

Cryptocurrency index fund manager Bitwise has launched a new Exchange Traded Fund (ETF) focused on the Web3 space, according to a press release published on Oct. 4. The Bitwise Web3 ETF has the ticker BWEB and will invest in up to 40 companies that are working in the rapidly developing niche.

The press release states that more than 85% of the portfolio will be invested in companies “directly linked to Web3 themes and business activities.” Bitwise CEO Hunter Horsley said that the internet was being reshaped by Web3 technology and that Bitwise wanted to offer investors the opportunity to enter the space,