- Bitwise files for 11 new cryptocurrency ETFs with the SEC.
- Funds will invest directly in tokens, with derivatives for exposure.
- Bitwise remains bullish on Bitcoin’s growth despite market challenges.
Crypto asset manager Bitwise has submitted filings to the U.S. Securities and Exchange Commission (SEC) for 11 new cryptocurrency exchange-traded funds (ETFs). These filings, made under an N-1A form, seek approval to launch a series of strategy ETFs that will invest in both direct and indirect cryptocurrency assets.
Direct and Indirect Investments in Digital Assets
Each proposed fund will allocate up to 60% of its assets directly into digital tokens, with the remaining funds invested in exchange-traded products linked to those tokens. In addition, the ETFs may use derivatives like futures contracts and swap agreements to further increase their exposure.
The funds will track several well-known cryptocurrencies, including Aave (AAVE), Canton (CC), Ethena (ENA), Hyperliquid (HYPE), NEAR, Starknet (STRK), Sui, Bittensor (TAO), Tron (TRX), Uniswap (UNI), and Zcash (ZEC).
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This new move follows Bitwise’s previous success with spot Bitcoin and Ethereum ETFs, which have driven increased interest in crypto-backed financial products. In response to this growth, Bitwise is expanding its offerings, including launching the first-ever spot Solana ETF in October. It has also rolled out ETFs for XRP and Dogecoin, tapping into growing investor demand.
Broader Commitment to Cryptocurrency ETFs
Bitwise’s filing also includes an S-1 registration statement for a spot Sui ETF and an amended statement for a Hyperliquid ETF, signaling the company’s dedication to broadening its portfolio of digital asset products. These efforts demonstrate Bitwise’s strategy to continue capitalizing on the surging interest in cryptocurrency-based investments.
Bitwise Maintains Optimistic View on the Market
Despite recent market downturns, Bitwise remains confident about the future of cryptocurrency. Matt Hougan, Chief Investment Officer at Bitwise, shared his outlook, predicting that Bitcoin could reach new all-time highs by 2026. He pointed to factors like the diminishing impact of Bitcoin halvings, falling interest rates, and reduced leverage-driven risks as key drivers. Additionally, Hougan emphasized that institutional adoption of crypto assets will play a crucial role in the market’s growth in the years ahead.
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