Bitwise Filed 11 Applications with the SEC for Crypto Strategy ETFs
Bitwise filed 11 applications with the SEC for crypto strategy ETFs with exposure to TAO, TRX, HYPE, and other tokens, achieved through a combination of direct holdings and exchange-traded instruments. The tokens include Aave, Canton, Ethena (ENA), Hyperliquid (HYPE), StarKnet (STRK), Bittensor (TAO), Tron (TRX), Uniswap (UNI), and Zcash (ZEC).
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Fund’s Structure and What the ETFs Actually Hold
We see filings for as many as 11 tokens, where each of the proposed crypto strategy ETFs builds exposure so that it can hold up to 60% of assets directly in the corresponding token, and cover the remaining share through one or more exchange-traded products that provide access to the same asset. The filings also provide for derivative contracts, including futures and swap agreements, meaning the fund gains additional tools to fine-tune exposure, manage cash, and rebalance.
This matters because when a fund splits exposure between a spot position and exchange-traded products, it shifts part of the infrastructure load from the direct on-chain path into the ETF market’s familiar clearing and settlement rails. As a result, this changes the risk profile: instead of a single bottleneck in custody and on-chain execution, a set of risks tied to exchange-traded instruments and derivatives emerges, including benchmark quality, rollover costs, and swap counterparty terms. And the key question here is always one: how exactly the fund maintains exposure as the market moves, and where in the chain the main frictions arise – at the level of instrument pricing, liquidity, derivative costs, and operational execution.
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Conclusion
Bitwise continued expanding its product lineup after the success of spot Bitcoin and Ethereum ETFs and the launch of products that track other major cryptoassets. In October, the company launched a spot Solana ETF in the US and then added ETF products tied to XRP and Dogecoin. Separately, Bitwise filed with the SEC an S-1 registration statement for a spot Sui ETF and also updated the registration for a Hyperliquid ETF. Overall, Bitwise is increasingly signaling the potential of altcoins as full-fledged infrastructure players and assets that merit attention from the institutional sector. Stay informed, gain more insights from our guides for beginners and professionals, and stay tuned for the latest updates and opportunities in the new economy, crypto industry, and blockchain developments!
