Bitwise 10 Crypto Index ETF 8-K, filed Jul 22, 2022
Bitwise 10 Crypto Index ETF (BITW)
About this 8-K
Bitwise 10 Crypto Index ETF filed this 8-K on July 22, 2022, reporting on events of July 19, 2022.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
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Item 8.01 Other Events.
On July 19, 2022, Bitwise Investment Advisors, LLC, the sponsor (the “Sponsor”) of the Bitwise 10 Crypto Index Fund (the "Fund") made a change to the group of exchanges from which the Fund identifies the principal market for valuation of the Fund’s crypto assets. The Fund calculates the valuation for each crypto asset included in the Fund's portfolio based on identifying a principal market for each crypto asset. The identification of the relevant principal market follows a process developed by the Sponsor based upon Financial Accounting Standards Board Accounting Standards Codification 820-10 which outlines the application of fair value accounting. This process begins by identifying publicly available, well-established and reputable cryptocurrency exchanges selected by the Sponsor. Previously, the Sponsor had selected the following exchanges: BitFlyer, Binance, Bitstamp, Bittrex, Coinbase, itBit, Kraken, Gemini and Poloniex. After a review conducted in the ordinary course of business the Sponsor determined to make the following changes to this group of exchanges effective as of July 19, 2022: Poloniex will no longer be included, and FTX, FTX.US and LMAX will now be included.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Bitwise Investment Advisers, LLC |
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Date: |
July 22, 2022 |
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/s/ Hunter Horsley |
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Name: Hunter Horsley |
* As the Registrant is a Trust, this report is being filed on behalf of the Registrant by Bitwise Investment Advisers, LLC, only in its capacity as the Sponsor of the Registrant. The identified person signing this report is signing in that person's capacity as an authorized officer of Bitwise Investment Advisers, LLC.