Hassan Maishera
TL;DR
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Bitwise filed with the SEC to introduce 11 crypto strategy ETFs.
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The ETFs will cover a wide range of tokens, including AAVE, UNI, and ZEC.
Bitwise Files with the SEC to Launch 11 Strategy ETFs
Digital asset manager Bitwise has filed with the United States Securities and Exchange Commission (SEC) to launch 11 crypto strategy exchange-traded funds (ETFs). The strategy ETFs will cover various cryptocurrencies, including Aave, Uniswap (UNI), Zcash (ZEC), SUI, and Bittensor (TAO).
In its N-1A filing on Tuesday, the asset manager detailed an approach that includes investing up to 60% of a fund's assets directly in the underlying token, with the remainder allocated to ETPs, and potentially, derivatives like futures and swaps.
This latest development comes as Grayscale filed an initial S-1 registration with the SEC to launch an ETP tracking Bittensor's TAO token.
Bitwise’s applications indicate how issuers are expanding beyond Bitcoin and Ether following the success of the spot ETFs tied to the two leading cryptocurrencies. Asset managers have already launched spot ETFs linked to Solana and XRP, with additional applications tied to other leading altcoins, including Chainlink, Sui, Hyperliquid, Sei, Near, Tron, and Athena.
