Spot Crypto ETFs Prompted Bitwise to Rethink Its Fund Lineup
Summary
Bitwise launched the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC), merging three older funds that focused on futures contracts for bitcoin and ether. The new fund, which holds $2 billion in cryptocurrency, aims to address diminished interest in futures-based products following the introduction of spot bitcoin and ether ETFs. BITC will manage volatility by rotating between crypto futures and U.S. Treasuries based on market trends. The conversion is expected on December 3, with a 0.85% expense ratio for investors. Analysts suggest the move responds to client demand for reduced volatility in cryptocurrency investments.
