Bitwise found that bitcoin acts as a useful counterweight to a traditional portfolio if managed in the right way.
Bitwise is hoping to draw a retail market for its Bitwise 10 Index Fund, which it intends to list on a regulated alternative trading system later this year.
Bitwise suggests Bitcoin could be looking at territory well north of the previous $20,000 all-time high.
Noelle Acheson warns of the consolidating power of crypto custodians, and the influence this could have on asset prices.
Bitwise's bitcoin ETF has been pulled, but the firm said it plans to refile at a later date.
