The offering would be registered with the SEC in accordance with the Securities Act of 1933 and would not be a fund registered under the Investment Company Act of 1940, according to an Oct.
Bitwise, which managed $1.2 billion across its suite of investment solutions as of March 31, already works with institutional investors, Mr. Hougan said during an interview with Pensions & Investments at last week’s Exchange: An ETF Experience conference in Miami.
Bitwise’s institutional clients include outsourced CIO firms, hedge funds and large family offices, according to Mr. Hougan.