Bitwise Files for Tron, Zcash, 9 Other Crypto ETFs

Key Notes

• Bitwise files for 11 new crypto ETFs, including Tron (TRX) and Zcash (ZEC).
• Each strategy ETF will invest about 60% directly in the underlying token.
• The firm awaits SEC approval on its Avalanche ETF and other pending filings.

Bitwise Asset Management has taken its exchange traded fund (ETF) strategy to another level as it files for 11 new funds.

This product will invest directly and indirectly in cryptocurrencies such as Tron

TRX
$0.28



24h volatility:
0.9%


Market cap:
$26.79 B



Vol. 24h:
$421.58 M

, Zcash

ZEC
$524.3



24h volatility:
2.0%


Market cap:
$8.64 B



Vol. 24h:
$752.46 M

, Aave

AAVE
$149.0



24h volatility:
0.8%


Market cap:
$2.26 B



Vol. 24h:
$150.70 M

, Ethena

ENA
$0.20



24h volatility:
1.4%


Market cap:
$1.57 B



Vol. 24h:
$101.51 M

, Hyperliquid

HYPE
$25.77



24h volatility:
0.1%


Market cap:
$6.15 B



Vol. 24h:
$148.95 M

, and Bittensor

TAO
$221.4



24h volatility:
0.7%


Market cap:
$2.13 B



Vol. 24h:
$52.56 M

.

Meanwhile, the firm has pending altcoin ETF filings awaiting approval from the US SEC.

Bitwise Includes Privacy Coin in ETF Filing

On December 30, the United States Securities and Exchange Commission (SEC) received new N-1A form applications from Bitwise.

The asset manager is requesting approval to launch a set of “strategy” ETFs, which will make both direct and indirect investments in a cryptocurrency.

Each of these funds is designed to directly invest about 60% of its assets in a token.

The other 40% will go into one or more exchange-traded products (ETPs) that provide exposure to the same token.

All the crypto included in the strategy ETF filing are AAVE, Canton (CC), ENA, HYPE, Near Protocol

NEAR
$1.50



24h volatility:
3.0%


Market cap:
$1.92 B



Vol. 24h:
$96.43 M

, Starknet

STRK
$0.0779



24h volatility:
2.9%


Market cap:
$386.87 M



Vol. 24h:
$34.42 M

, Sui

SUI
$1.44



24h volatility:
0.1%


Market cap:
$5.38 B



Vol. 24h:
$425.89 M

, TAO, TRX, Uniswap

UNI
$5.86



24h volatility:
1.7%


Market cap:
$3.69 B



Vol. 24h:
$218.27 M

, and ZEC.

Per the filing with the US SEC, each of the funds may also choose investments in derivatives contracts, such as futures and swap agreements.

While it still has a few pending applications with the regulator, Bitwise’s latest move suggests that the firm is quite bullish for the coming year. It is clearly undisturbed by the current struggling outlook of the broader crypto market.

Bitwise Awaits SEC Decision on AVAX ETF

On October 28, Bitwise became the first spot crypto ETF issuer to roll out a Solana fund for trading.

The Bitwise Solana Staking ETF (BSOL) carries a 0.20% annual sponsor fee, which is waived on the first $1 billion in assets for three months.

Unlike some other Solana ETFs, the fund includes a secondary objective to generate more SOL through staking. Coinbase Custody Trust Company is the custodian for the fund.

Bitwise also has a spot Avalanche ETF application with the US SEC, which is awaiting approval. It amended the filing in November to include the management fee, ticker, and fee waiver.

The AVAX ETF is to be listed under the ticker symbol “BAVA,” with a 0.34% management fee that will be waived entirely for one month or until it reaches $500 million in AUM.

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