Bitwise Asset Management is joining the Web3 party with the launch of the Bitwise Web3 ETF (BWEB) looking to offer exposure to companies working to develop Web3 and related technology. BWEB plans to track an index of 40 companies including big names in the space, Coinbase, Roblox, Meta, and Equinix. The index will reserve 85% of its assets for companies that are directly involved in Web3’s development. The launch marks the second ETF from Bitwise after the success of their crypto ETF, BITQ.
ETF Newz Says: Web3 looks to reshape how we view the internet as a whole and many of the companies involved in its development are prone to volatility as well as growth.