Bitwise and Mark Yusko’s Morgan Creek Digital Partner to Create The Digital Asset Index Fund, Designed For Institutional Investors
“Every institutional investor should be considering an allocation to digital assets right now,” says Morgan Creek CIO, Mark Yusko.
NEW YORK, Aug. 28, 2018 — Morgan Creek Digital, a leading digital asset management firm backed by multi-billion dollar investment advisor Morgan Creek Capital Management, today announced the launch of The Digital Asset Index Fund to provide endowments, foundations, pensions, wealthy families, and sovereign wealth funds access to broad-based digital asset exposure. The fund is a partnership with Bitwise Asset Management, the leading provider of cryptocurrency indexes and index funds, who serves as the manager.
“Every investor should be considering an allocation to digital assets right now,” said Mark Yusko, CIO at Morgan Creek.
“Increasingly, institutional investors are coming to us asking for exposure to the space.” said Yusko. “We wanted to create a vehicle tailored for those investors. Bitwise was the ideal partner to do this with because of their institutional approach, experienced team, and track record of success.”
“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.”
The Digital Asset Index Fund combines Bitwise’s best-in-class quantitative index rules and professional fund management with the ongoing oversight of an index committee including 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.
The Fund holds a market-cap-weighted basket of the top 10 largest digital assets, reconstituted monthly. Assets must pass rigorous, rules-based eligibility requirements including custody qualifications, trade concentration limits and pre-mine restrictions to qualify for inclusion. All assets are kept in 100% cold storage — the best practice for security — and are audited annually.
“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.”
The Digital Asset Index Fund launches today and is available to approved institutional investors and accredited investors, including endowments, foundations, pensions, wealthy families, and sovereign wealth funds.
For information on the Digital Asset Index Fund, visit www.digitalassetindexfund.com
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About Morgan Creek Digital
Morgan Creek Digital Assets, LLC is a global asset manager providing access to blockchain technology and digital assets for institutional clients and wealthy family offices. The firm was founded by Mark Yusko, Jason Williams and Anthony Pompliano, who are known for bringing traditional asset management strategies to emerging markets and technologies. MCDA is backed by Morgan Creek Capital Management, a multi-billion dollar asset manager based in the United States.
About Mark Yusko
Mark W. Yusko is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management, LLC. Prior to forming Morgan Creek in 2004, Mr. Yusko was President, Chief Investment Officer and Founder of UNC Management Company, the Endowment investment office for the University of North Carolina at Chapel Hill, from 1998 to 2004. Until 1998, Mr. Yusko was the Senior Investment Director for the University of Notre Dame Investment Office where he joined as the Assistant Investment Officer in October of 1993. Mr. Yusko is the President and Chairman of the Investment Committee of The Hesburgh-Yusko Scholars Foundation at the University of Notre Dame, and President and Head of Investment Committee of the Morgan Creek Foundation.
About Bitwise Asset Management
Founded in 2017, Bitwise Asset Management pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the cryptoasset space. The team is based in San Francisco and combines modern software expertise with decades of asset management experience, coming from firms including Facebook, Wealthfront, BlackRock, JPMorgan, US Commodity Funds, Goldman Sachs, and ETF.com. Bitwise is backed by leading institutional investors and is a partner to high net worth individuals, financial advisors, family offices, multi-family offices, investment managers and institutions in navigating the cryptoasset space. Bitwise develops funds, indexes, models, research, and other services. For more information, visit www.bitwiseinvestments.com
Bitwise Investment Advisors, LLC, a subsidiary of Bitwise Asset Management, sponsors U.S. and non-U.S. private funds that invest in cryptocurrencies.