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VI Polygon is the #1 Layer-2 network
Due to the increasing demand for cryptocurrencies by institutional investors over the past year, digital asset management professionals have been ingeniously creating channels to respond to the public's interest in cryptocurrency. this market. Bitwise, the world's largest index fund manager, has created many index fund portfolios specifically for Bitcoin, Ethereum and DeFi. Recently, the company revealed a Polygon's fund so that customers can access tokens MATIC.
In a recent interview, Bitwise CIO Matt Hougan said that these fund portfolios were created out of a need for “exposure to assets that are performing well” and Polygon is an "obvious" choice.
Polygon is a Layer-2 scaling solution that solves the problems caused by high traffic leading to congestion, increasing fees and transaction times. Polygon provides broad network capabilities by allowing the construction of Dapp on it and now has more than 3000 Dapp built on this network. The success of the Polygon network is why Bitwise chose it.
“We see it has a lot of applications. This is probably the #1 network in that space so we wanted to create a fund of it where people can invest.”
“This Polygon Fund is not for investors but for those who want to invest Polygon in a fund structure.”
DeFi and NFT make Polygon explode
Job field DeFi and NFT boom causes congestion problem of Ethereum in the past year is what makes Polygon so popular. TLV (total locked value) in the network is recorded at $4.6 billion. Therefore, token MATIC also experienced exponential growth and reached 56.3% in the past month. This is the main reason for Bitwise's choice.
Bitwise is also just getting started as demand for single-asset funds is growing. While not revealing too much, Hougan did admit that the company will soon release more DeFi crypto-asset funds in November.
“There seems to be a lot of people wanting to invest individual funds in DeFi and I think we will continue to offer services in this area.”
Next, Bitwise will increase focus on DeFi as the company already operates the fund UniSwap and AAVE along with the index funds of several other DeFi assets.
The focus of crypto asset funds remains ETF because the Bitcoin ETF The first in the US was released. And of course, Bitwise also submitted a Bitcoin futures ETF and pending approval.
Hougan also said: “I feel great when I think about the sight of Bitwise and other companies submitting applications for Ethereum ETFs.”
Umbrella Ethereum will definitely be the next ETF but the altcoin Others will still have to wait a long time before being accepted by regulators. Because only Bitcoin and Ethereum ETF is allowed to trade on CME, so the probability of altcoin other ETFs are very small. But anyway, this is still a good sign.
“There are a lot of investors who want to get into the crypto ecosystem… As we unlock new asset classes and portfolios there will definitely be a lot of money pouring into this market.”
