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Bitwise Launches Web3-Focused ETF

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Today’s Cryptocurrency Headline

Crypto index fund manager Bitwise Asset Management has launched the Bitwise Web3 ETF (BWEB), which is now listed on the New York Stock Exchange Arca, according to an Oct. 4 filing with the U.S. Securities and Exchange Commission (SEC). BWEB is based on the Bitwise Web3 Equities Index and has management fees equivalent to .85% of average daily net assets.BWEB includes five categories of Web3 companies, namely infrastructure providers, finance, metaverse and digital worlds, “web3-enabled creator economy” and development and governance. Bitwise has more than $1.3 billion in assets under management.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to Glassnode, the number of addresses holding more than 1 Ether reached an ATH of 1,576,724. Bitcoin is up 0.66% over the last 24 hours and rose to an intraday high of $20,444.00. The largest cryptocurrency is showing signs of recovery as it holds above the 20-day exponential moving average (EMA)($19,714) and the 50-day simple moving average (SMA) ($20,105). The relative strength index is slightly above the midpoint, indicating the bulls have an advantage. If the price is maintained above the current level, the $22,000 resistance level would be the next target.

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