Crypto asset management firm Bitwise launches Matic fund

Bitwise Polygon Matic fund

Bitwise is the largest crypto asset management company in the world. As of 2021, Bitwise Asset Management had as much as $1.5 billion in AUM. On October 20, 2021, the company announced the launch of its new Bitwise Polygon (MATIC) fund, through which its wealthy investors will be exposed to the native Polygon network token. Bitwise Polygon (MATIC) is intended to be a professionally managed investment vehicle, and the minimum contribution to the fund is $10,000. Why did Bitwise Asset Management decide to make such a move? And why the Polygon network? These questions are answered below.

Polygon Network – what is it?

The Polygon Network is a network based on the Ethereum blockchain. Using Polygon, users can create applications and new blockchains that integrate with Ethereum. This avoids the bottlenecks for Ethereum transactions, as well as the high costs that apply to the blockchain. The Polygon network is growing in popularity all the time, with a market capitalization of about $8 billion as of 2021. It is used by leading companies building applications in the DeFi and NFT sectors, such as OpenSea and Aave.

High hopes for Polygon Network

Undoubtedly, Polygon Network is attracting the attention of developers and investors alike, as it solves many of the problems that afflict the Ethereum blockchain. However, why exactly Bitwise decided to expose its customers to this platform? The answer can be found in a comment by Matt Hougan, Head of Investments at Bitwise. Here’s what Hougan said when providing information on the new investment vehicle. 

“Over the years, the excitement about the most promising cryptocurrency use cases, including DeFi and NFT, has been dampened by the fact that Ethereum simply isn’t built to handle it all. Many are working on competing solutions to Ethereum to solve this problem, but it is Polygon that has proven to be the breakthrough solution that improves Ethereum’s speed and performance. […] With the launch of the new Bitwise Polygon Fund, we are excited to help investors gain access to the expanding set of opportunities emerging in cryptocurrencies.”

Undoubtedly for Bitwise Asset Management, but also, and perhaps especially, for the Polygon network, this move marks a milestone. By exposing investors to the MATIC token, they will be able to directly contribute to Polygon Network’s growth on an even larger scale than before.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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