Crypto fund supervisor Bitwise has filed with the US Securities and Alternate Fee (SEC) to launch 11 new single‑token “technique” crypto change‑traded funds (ETFs), extending the corporate’s crypto ETF footprint deeper into the altcoin market.
The proposed funds would supply focused publicity to property together with Aave (AAVE), Uniswap (UNI), Zcash (ZEC), Bittensor (TAO), Sui (SUI), and Close to (NEAR), amongst others, giving traders a regulated route into tokens that up to now have largely traded on crypto exchanges.
Based on the submitting, every product is designed as a “Technique ETF” slightly than a plain spot car, following a guidelines‑based mostly playbook for the way it will get publicity to the underlying asset.
In broad phrases, the funds would mix direct spot holdings within the related cryptocurrency with positions in exchange-traded merchandise (ETPs) that additionally reference that asset, and will use derivatives to nice‑tune publicity.
As per the submitting, the fund will derive its publicity “by investing as much as 60% of its property instantly” within the token and “no less than 40% of its property” in securities issued by a number of exchange-traded merchandise that make investments instantly in or present publicity to the token.
That makes these ETFs structurally completely different from Bitwise’s current choices, that are largely diversified baskets of crypto equities (similar to Coinbase), multi‑asset indexes, or futures‑based mostly methods.
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Bitwise’s crypto choices
Bitwise already runs a fairly full US lineup. Its spot merchandise embody the Bitwise Bitcoin ETF, the Bitwise Ethereum ETF, the Bitwise Solana Staking ETF, and the Bitwise XRP ETF, which maintain their respective property instantly.
On the fairness and index aspect, Bitwise presents the Bitwise Crypto Business Innovators ETF, which holds listed crypto‑associated corporations, and the Bitwise 10 Crypto Index ETF, which tracks a screened basket of the biggest digital property. The agency additionally operates futures‑based mostly methods constructed round CME futures.
The brand new single‑token technique funds would sit alongside the prevailing shelf, however goal a special sort of threat. As a substitute of diversified baskets, every ETF concentrates on one coin and applies the identical guidelines‑based mostly framework throughout a household of altcoins spanning decentralized finance, synthetic intelligence, and layer‑1 ecosystems.
If accepted, they might give establishments and advisers an ETF‑native method to specific views on names like TAO or SUI with out instantly holding the tokens.
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A broader wave of crypto ETF/ETP filings
The transfer comes amid a broader wave of ETF and ETP exercise, together with Grayscale’s Dec. 30 utility to transform its Bittensor belief right into a spot ETF on NYSE Arca.
Over the previous a number of months, issuers similar to Bitwise, VanEck, and 21Shares have additionally been rolling out or in search of approval for spot and thematic merchandise tied to altcoins like Solana (SOL), XRP (XRP), Dogecoin (DOGE), and Avalanche (AVAX).
Whereas different issuers are edging into single‑altcoin territory, launching or submitting for one‑off spot merchandise tied to particular person tokens or AI or DeFi‑themed automobiles, Bitwise’s bid is extra bold in scope: an 11‑fund suite constructed round a standard technique template to offer US traders entry to an extended tail of altcoins by way of ETFs.