According to the SEC, they reportedly forged papers and went to tremendous efforts to trick investors out of funds.
Bitwise Asset Management, a top crypto index fund manager, would like to make it clear that the financially challenged tech firm Bitwise Industries, which is being sued by the U.S. Securities and Exchange Commission (SEC), is in no way affiliated with Bitwise Asset Management.
Irma Olguin Jr. and Jake Soberal, co-founders of Bitwise Industries, are facing wire fraud conspiracy charges and allegations that they stole $100 million from a number of investors.
According to the SEC, they reportedly altered papers and went to tremendous efforts to trick investors out of funds.
Due to the similarities between the two companies’ names, there has been considerable misunderstanding, with the logo for Bitwise Asset Management being mistakenly used in online discussions about Bitwise Industries. Bitwise Asset Management, however, wants it to be quite apparent that the two are completely unrelated.
BITWARE Asset Management clearly stated in a statement on November 10th that they were not connected to the troubled tech company. They said, “San Francisco-based Bitwise Asset Management, Inc., the largest crypto index fund manager in America, has no relationship with and has never had a relationship with the now-defunct Fresno, California-based Bitwise Industries, a former technology company.”
Bitwise Asset Management is well-known for its extensive lineup of cryptocurrency investment options, including Ether futures ETFs.
To further establish itself at the forefront of the developing cryptocurrency investing scene, the business is also aggressively seeking permission for a spot Bitcoin ETF.
When compared to this, it seems that Bitwise Industries is a defunct technology firm that had nothing to do with digital assets or cryptocurrencies throughout its existence.
Bitwise Asset Management is committed to making the difference between the two perfectly obvious to the public and investors, particularly in light of the legal difficulties involving Bitwise Industries.
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