Bitwise Asset Management has launched Blue-Chip NFT Index Fund that targets the ten biggest NFTs based on market capitalization.
The fund would buy and hold collections with over $6 billion total market capitalization, such as Cryptopunks, Bored Ape Yacht, Fidenza, Autoglyphs, and VeeFriends.
The Bitwise Blue-Chip NFT Index Fund is available to accredited investors in a private placement at a $25,000 minimum subscription. Monthly redemption is offered after an initial lock-up period.
The fund targets investors interested in the NFT space with little to no the time to participate in regular auctions for specific art prices.
The NFT craze has surged recently, with collectibles like CryptoPunks, Autoglyphs, and Bored Ape Yacht Club fetching millions of dollars in auctions.
The Non-fungible tokens trading volumes surged more than $10 billion in the third quarter of 2021.