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Bitwise Launches Polygon Fund for Ethereum-Scaling Exposure

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Cryptocurrency index fund supervisor Bitwise Asset Management fashioned a Polygon fund to give traders publicity to the layer 2′s native MATIC token. The fund will check the thesis of whether or not the favored Ethereum scaling answer has endurance.

Polygon permits builders to construct purposes that combine with the Ethereum mainnet, Bitwise highlighted in a press release Wednesday.

“For years, the excitement around crypto’s most promising use cases, including DeFi [decentralized finance] and NFTs [non-fungible tokens], has been muted by the fact that Ethereum simply isn’t built to handle it all yet,” Matt Hougan, Bitwise’s chief funding officer, mentioned in a press release. Hougan sees Polygon as a platform to enhance these points.

Bitwise is the world’s largest crypto index fund supervisor, with over $1.2 billion in belongings underneath administration as of March 31, in accordance to its web site.

“We’re thrilled that a broader range of accredited and institutional investors will now be able to gain exposure to the MATIC token and help encourage greater development of the Polygon ecosystem,” Polygon co-founder Sandeep Nailwal mentioned in a press release.

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