Another ETF Veteran Goes Crypto

According to the press release, Hyland is well-known for spearheading the launch of the first crude oil ETF, the first natural gas ETF, the first copper ETF and the United States Commodity Index Fund.

"Bitwise is committed to making it easy for any investor to get secure, convenient, and low-cost exposure to cryptoassets," Horsley said in a statement. "Exchange-traded products, such as ETFs, are a fantastic way to do that in an efficient wrapper."

Hyland joins two other senior ETF veterans who have signed on with Bitwise in recent months. Matt Hougan, former CEO of both ETF.com and Inside ETFs, joined the firm in February as global head of research. Teddy Fusaro also joined the firm as its chief operating officer in April after helping build two significant ETF firms, Direxion and IndexIQ.

Bitwise launched a cryptocurrency index fund, the HOLD 10 Private Index Fund, in November of last year. The fund is available to accredited investors and charges a management fee for its Investor Class of 2.5% per year.

— Related on ThinkAdvisor:

• Cryptocurrency Index Fund Offers Shares to IRAs
• ETF Veteran Goes Crypto, Predicting Multitrillion-Dollar Market