Presumably they'll be launching many more coins this year. There are other advantages in holding crypto through a fund rather than directly, like simplified tax accounting and not having to worry about security, either digital or physical.

For many people that is worth 2%

2% is a massive fee. That is almost reaching hedge fund levels.

For what is pretty much a passively managed fund it seems hard to justify such a high fee.

They've announced a few times that they are not planning on adding any coins, anytime soon. I think they are better off focusing on this sort of project to keep current customers, marketing to get new ones and strengthening their customer support. New coins make all of those tasks much more complex, for probably very little competitive edge, at the moment.

The Bitwise HOLD10 (run by Bitwise, where I work) rebalances every month.