Key Takeaways
- • Hashnote, an on-chain-first digital asset manager backed by Cumberland and DRW, launched the Hashnote CoinDesk 20 Fund in partnership with CoinDesk Indices to track the CoinDesk 20 Index (CD20).
- • The CD20 is market-capitalization weighted with a 30% cap on Bitcoin and a 20% cap on other constituents (currently Ether), and covers over 90% of total digital asset market capitalization as of 12/31/2023 per the publisher.
- • Since its launch, the CoinDesk 20 Index perpetual futures traded on Bullish have recorded $2.4 billion in volume, and the index outperformed bitcoin by 4.25% over the last month, according to the release.
- • The fund offers institutional and investors a regulated, compliant vehicle for multi-asset digital asset exposure beyond spot bitcoin ETFs.
Summary
Hashnote, described as the on-chain-first digital asset manager built with the support of Cumberland and DRW, has announced a strategic partnership with CoinDesk Indices to launch the Hashnote CoinDesk 20 Fund. The fund is designed to track the CoinDesk 20 Index (CD20), which the release describes as a highly traded, global digital asset benchmark. The launch is positioned as a response to growing investor demand for diversified digital asset exposure beyond bitcoin ETFs, following the recent regulatory approval of spot Bitcoin ETFs.
The CD20 uses a market-capitalization weighted methodology with a 30% cap on its largest constituent, Bitcoin, and a 20% cap on other members, currently Ether. The index also includes memecoins such as Dogecoin and SHIBA INU. According to the release, the index captures over 90% of total digital asset market capitalization as of 12/31/2023, measured against the CoinDesk Market Index, which excludes stablecoins.
CoinDesk Indices unveiled the CD20 earlier this year. Simultaneously, Bullish launched a perpetual futures contract based on the index. The release states that the CD20 perpetual futures have recorded $2.4 billion in trading volume since launch, and that the index has outperformed bitcoin by 4.25% over the last month. The announcement also notes that the index traded over $2 billion in perpetual futures volume since January 2024.
Hashnote Founder and CEO Leo Mizuhara said the fund marks "a pivotal step in providing investors with a regulated avenue to the digital assets market," adding that the partnership enables access to a diversified portfolio "backed by the assurance of regulation." Alan Campbell, President of CoinDesk Indices, said investors increasingly want to access digital asset growth "with one move," describing the CD20 as the most liquid industry benchmark.
The release includes standard disclosures: CoinDesk Indices does not sponsor or manage products linked to its indices and is not an investment adviser, and Hashnote Management LLC is an NFA member, although NFA lacks oversight of spot virtual currency products, exchanges, custodians, or markets. Further product details are available at hashnote.com/products/cd20.
The CD20 uses a market-capitalization weighted methodology with a 30% cap on its largest constituent, Bitcoin, and a 20% cap on other members, currently Ether. The index also includes memecoins such as Dogecoin and SHIBA INU. According to the release, the index captures over 90% of total digital asset market capitalization as of 12/31/2023, measured against the CoinDesk Market Index, which excludes stablecoins.
CoinDesk Indices unveiled the CD20 earlier this year. Simultaneously, Bullish launched a perpetual futures contract based on the index. The release states that the CD20 perpetual futures have recorded $2.4 billion in trading volume since launch, and that the index has outperformed bitcoin by 4.25% over the last month. The announcement also notes that the index traded over $2 billion in perpetual futures volume since January 2024.
Hashnote Founder and CEO Leo Mizuhara said the fund marks "a pivotal step in providing investors with a regulated avenue to the digital assets market," adding that the partnership enables access to a diversified portfolio "backed by the assurance of regulation." Alan Campbell, President of CoinDesk Indices, said investors increasingly want to access digital asset growth "with one move," describing the CD20 as the most liquid industry benchmark.
The release includes standard disclosures: CoinDesk Indices does not sponsor or manage products linked to its indices and is not an investment adviser, and Hashnote Management LLC is an NFA member, although NFA lacks oversight of spot virtual currency products, exchanges, custodians, or markets. Further product details are available at hashnote.com/products/cd20.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.