Bitcoin treasury firm Bitwise is looking to expand its ETF offerings beyond Bitcoin and Ether. The San Francisco-headquartered company has filed with the U.S. SEC, seeking permission to launch 11 new altcoin ETFs..
The proposed ETFs would track altcoins including Zcash, Ethena, Hyperliquid, Starknet, Canton, Aave, Uniswap, Tron, Bittensor, NEAR, and Sui.
The funds would operate as “strategy” ETFs rather than pure spot products, the filing showed. It also said that each fund could invest up to 60 percent of its assets directly in the underlying digital asset. The remaining 40 percent would be allocated to ETPs.
“The Fund will concentrate its investments in instruments that provide exposure to Ethena (ENA), including direct ENA investments, investments in ENA ETPs and utilization of ENA Derivatives,” the filing noted.
With these ETF products, Bitwise also wishes to let derivatives to be used to track price movements and exposure to the associated assets.
This filing from Bitwise comes just weeks after ten Crypto Index ETP (BITW) was launched for trading on NYSE Arca. The SEC had approved this trading towards the end of November.