“We created the BIT10 token to allow greater access to cryptocurrency investing by making the experience simple and accessible. Through partnerships like this one with Bitwise, Abra has created an unprecedented opportunity for the everyday person to start investing in crypto.”Furthermore, according to Blokt:
“Bitwise CEO Hunter Horsley echoed Barhydt’s statements and said that index investing is popular in traditional financial markets and cryptocurrencies because it provides diversified exposure without the hassles of constantly monitoring the news. He also noted that index investing has been available only to institutional investors in cryptocurrencies and he is thrilled to change that with the BIT10 token on Abra.”Is this the institutional investment needed to push BTC to $20k? Possibly not. Whilst BIT10 is quite exciting, it doesn’t seem to have the same impact as the bigger institutional paths such as Bakkt and the mysterious Bitcoin ETF. It is within the ETF that most investors expect to see a Bitcoin rally and not within these smaller and somehow less powerful announcements.Either way, BIT10 is a good thing that is set to inspire a lot of new people to start to invest in crypto. References Blokt