Morgan Creek Digital and Bitwise have partnered to create a new digital asset index fund to attract institutional investors.
The Digital Asset Index Fund is going to feature the top 10 digital currencies by market capitalization to accredited and major investors, with Bitwise managing the fund. The official website shows that the fund is heavily aimed toward Bitcoin with some of the other top 10 cryptocurrencies.
All assets in the fund will be stored in cold storage for added security. The assets will have a set of eligibility requirements including custody qualifications, trade concentration requirements and pre-mine restrictions.
Morgan Creek and Bitwise are also intending to conduct annual audits of the fund. The firm is also intending to launch an Exchange Traded Fund.