Bitwise Files with the US SEC to Launch 11 Crypto ETFs
Bitwise filed with the SEC to launch 11 single-token 'strategy' crypto ETFs targeting various altcoins.Summary
Crypto fund manager Bitwise has filed with the U.S. Securities and Exchange Commission (SEC) to introduce 11 new single-token “strategy” crypto exchange-traded funds (ETFs), aiming to expand its offerings into the altcoin market. These proposed funds would provide targeted exposure to specific assets like Aave (AAVE), Uniswap (UNI), Zcash (ZEC), Bittensor (TAO), Sui (SUI), and Near (NEAR).
Structurally, these are designed as "Strategy ETFs," not plain spot vehicles. They employ a rules-based playbook that combines direct spot holdings of the cryptocurrency (up to 60% of assets) with positions in exchange-traded products (ETPs) referencing the asset (at least 40% of assets), potentially using derivatives for fine-tuning. This differs from Bitwise's existing lineup, which includes spot Bitcoin/Ethereum ETFs, diversified equity baskets, and futures-based strategies.
The filing represents an ambitious move, proposing an 11-fund suite built on a common strategy template to offer US investors, including institutions, a regulated ETF-native way to gain exposure to a long tail of altcoins across DeFi, AI, and layer-1 ecosystems, amidst a broader industry trend of filing for altcoin-related products.
(Source：Cointelegraph)