KEY POINTS

  • Bitwise Polygon (MATIC) Fund will serve as a professionally managed investment vehicle
  • Polygon's market valuation is only $10 billion, while Ethereum's is approaching $480 billion
  • Coinbase Custody Trust Company, LLC, will act as a custodian of the Bitwise Polygon Fund

Crypto-asset manager Bitwise announced the launch of its investment fund specializing in cryptocurrency native to the Polygon network in a press release. The new launch will allow investors to benefit from a professional and reliable investment solution.

In a press release dated Oct. 20, Bitwise announced the launch of its new investment fund: the Bitwise Polygon (MATIC), Businesswire reported.

Polygon is both a protocol and a toolkit, allowing you to build and connect blockchains compatible with Ethereum. MATIC, its crypto-token, is essential for the functioning of its ecosystem. This secondary layer solution has impressive performance for a very smooth Ethereum experience.

Bitwise's strategy aims to allow investors to professionally invest in developing the native cryptocurrency of the Polygon network.

The Polygon platform offers developers the ability to develop applications that integrate with Ethereum while avoiding transaction bottlenecks and higher costs. For example, a non-fungible asset transfer usually costs $20 to run on the Ethereum network, but costs only over $0.01 on Polygon.

Polygon is currently experiencing rapid development. A few days ago, the number of daily active users of Polygon briefly exceeded that of Ethereum.

Bitwise believes that the Polygon network, and its native cryptocurrency, MATIC, offer investors significant valuation potential. For comparison, Polygon's market valuation is only $10 billion, while Ethereum's is approaching $480 billion.

The new Bitwise Polygon fund is currently available to accredited investors with a minimum of US $ 10,000. And the custodian of the Bitwise Polygon fund is none other than Coinbase Custody Trust Company LLC.

The launch of the new fund was greeted with a rise in the MATIC cryptocurrency by 2.31% to $ 1.51.

Bitwise launches a fund specially dedicated to Polygon (MATIC)
Ethereum https://pixabay.com/illustrations/ethereum-currency-trading-3660218/
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