Fund manager Bitwise has just filed 11 applications for “Strategy” crypto ETFs at the end of the year. The list includes: Bittensor (TAO), Uniswap (UNI), Ethena (ENA), Hyperliquid (HYPE), Tron (TRX), Zcash (ZEC), Starknet (STRK), Canton (CC), Aave, Near, and Sui.
Bitwise files 11 crypto ETF applications
2025 will not necessarily be the year of the promised explosion of spot crypto ETFs, following the historic approval of exchange-traded funds for Bitcoin and Ethereum in 2024. In fact, the new chairman of the Securities and Exchange Commission (SEC), Paul Atkins, ultimately waited until the end of the year to gradually release these financial products, which had been on hold for many months.
Following this regulatory opening, the launches of spot ETFs applied to Solana (SOL) and Ripple’s XRP quickly emerged as the year’s successes in the sector. Meanwhile, fund managers continue to file more and more applications with the SEC.
This momentum has recently intensified at the end of the year, following the filing of 11 new crypto ETF applications by Bitwise on December 30. These are exchange-traded funds included in its “Strategy” offering, involving direct and indirect investments in the projects concerned.
Specifically, these 11 new crypto ETFs relate to the following highly popular projects: Bittensor (TAO), Uniswap (UNI), Ethena (ENA), Hyperliquid (HYPE), Tron (TRX), Zcash (ZEC), Starknet (STRK), Canton (CC), Aave (AAVE), Near (NEAR), and Sui (SUI). This should appeal to a wide range of investors.
Crypto ETFs with derivative contracts option
These crypto ETF applications filed by Bitwise involve mixed funds that will invest up to 60% of their assets directly in the relevant cryptocurrency and the remaining 40% “in securities issued by one or more exchange-traded products that directly invest in, provide exposure to, replicate the performance, or have similar trading and/or price performance characteristics to” the token.
A strategy that may also involve investments in derivative contracts—such as futures and swap agreements—based on the relevant token, with an estimated “at least 80% of its net assets” exposed to this set of crypto financial products.
Important note: these exchange-traded funds are not spot crypto ETFs in the strict sense of the term, as they do not allow direct ownership of 100% of the cryptocurrencies whose performance they track.
With these new crypto exchange-traded funds, Bitwise is undoubtedly attempting to ride the wave of success of its BSOL ETF applied to Solana, which launched last October and quickly established itself as the best of the year in the field, before Ripple’s XRP stole the spotlight a few weeks later.
