Morgan Creek Digital, Bitwise Partner on New Digital Asset Index Fund

Morgan Creek Digital and crypto index provider Bitwise are teaming up to launch a new index fund aimed at institutional investors looking to enter the digital asset market.

According to its official website, the index fund is geared heavily toward bitcoin, while offering exposure to other major cryptos like ether, bitcoin cash and EOS, among others.

Anthony Pompliano, a cryptocurrency bull and a partner at Morgan Creek Digital, said in a statement that the 2018 bear market provides an opportunity for investors to build out their exposure to the market.

"We have been approached by many institutional investors who want to gain exposure to digital assets. By partnering with Bitwise, the leading crypto index provider, we are able to bring an institutional-grade solution to these clients. The crypto industry continues to mature and we see this as another milestone along the way."

Bitwise CEO Hunter Horsley told CoinDesk that the fund is geared toward simplified access.

" Mark Yusko and Morgan Creek have spent more than a decade working with institutional clients and earning their trust," he explained.

Assets stored by the fund will be kept in cold storage to improve their overall security.

To further the fund's security, Morgan Creek and Bitwise intend to conduct annual audits.

Yusko, Pompliano and Bitwise global head of research Matt Hougan will form a committee to oversee the fund as well.

Bitwise already offers accredited investors access to cryptocurrencies through its private index funds, as previously reported by CoinDesk.