Analysis

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About Bitwise Funds Trust Bitwise Web3 ETF

BWEB is designed to provide thematic exposure to the world of Web 3.0 by tracking an index of innovative companies worldwide that are positioned to benefit from the development of Web3 and Web3 technologies. After passing exchange, size, liquidity, and free-float screens, companies are typically identified based on business activities, and are classified into three tiers depending on the degree of their reliance on the five Web3 themes: web3 finance, web3 infrastructure providers, web3-enabled creator economy, web3-enabled metaverse and digital worlds, and web3 development and governance. A total of 40 securities will comprise the index of which 30 are selected from the largest companies in tiers 1 and 2, and the remaining 10 from tier 3. While the former is allocated 85% of the fund, the latter receives 15%. Securities are initially market cap-weighted in their respective class but are modified so all tier 1 firms reflect 4x their usual size, and tier 3 firms all weight equally. The index is rebalanced and reconstituted quarterly.