Crypto asset manager Bitwise has filed with the US Securities and Exchange Commission (SEC) to launch 11 new single-token “strategy” crypto exchange-traded funds (ETFs), expanding its ETF lineup further into the altcoin market.
The proposed funds would provide focused exposure to tokens such as Aave, Uniswap, Zcash, Bittensor, Sui, and Near, offering investors a regulated way to access assets that have largely been limited to crypto-native platforms.
According to the filings, each product is structured as a “Strategy ETF” rather than a straightforward spot ETF, using a rules-based approach to gain exposure to the underlying asset.
In general, the funds would blend direct spot holdings of the cryptocurrency with positions in exchange-traded products (ETPs) that track the same token, and may also use derivatives to adjust exposure.
The filings state that each fund would obtain exposure by investing up to 60% of its assets directly in the token, with at least 40% allocated to securities issued by one or more ETPs that invest in or provide exposure to that asset.
This structure sets the proposed ETFs apart from Bitwise’s existing products, which largely focus on diversified baskets of crypto-related equities, multi-asset indexes, or futures-based strategies.
Bitwise’s crypto lineup
Bitwise already offers a broad range of US-listed crypto products. Its spot ETFs include the Bitwise Bitcoin ETF, Bitwise Ethereum ETF, Bitwise Solana Staking ETF, and Bitwise XRP ETF, each of which holds the underlying asset directly.
On the equity and index side, the firm manages the Bitwise Crypto Industry Innovators ETF, which invests in publicly listed crypto-related companies, and the Bitwise 10 Crypto Index ETF, which tracks a screened basket of the largest digital assets. Bitwise also runs futures-based strategies built around CME-listed contracts.
The proposed single-token strategy ETFs would complement this existing lineup while targeting a different risk profile. Rather than offering diversified exposure, each fund would focus on a single cryptocurrency and apply the same rules-based framework across a range of altcoins spanning decentralized finance, artificial intelligence, and layer-1 ecosystems.
If approved, the funds would provide institutions and financial advisers with an ETF-native way to gain exposure to assets such as TAO or SUI without directly holding the tokens.
A broader wave of crypto ETF and ETP filings
The filings come amid a wider surge in crypto ETF and ETP activity. Notably, Grayscale applied on Dec. 30 to convert its Bittensor trust into a spot ETF on NYSE Arca.
In recent months, issuers including Bitwise, VanEck, and 21Shares have launched or sought approval for spot and thematic products tied to altcoins such as Solana, XRP, Dogecoin, and Avalanche. While other firms have begun exploring single-altcoin or theme-based offerings, Bitwise’s proposal stands out for its scale: an 11-fund suite built on a shared strategy framework designed to give US investors ETF access to a broad range of altcoins.
