Crypto asset manager Bitwise is on a roll, filing for its second crypto ETF this week. This time, they’re aiming for a unique product called the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC).
What’s BITC?
BITC is a smart move, aiming to capture the upside of Bitcoin while hedging against its wild price swings. The strategy? When Bitcoin’s price is hot, they’ll invest in Bitcoin. When it cools down, they’ll switch to U.S. Treasuries, which are considered safer investments.
More Than Just BITC
This isn’t just about BITC. Bitwise is actually converting three of its existing futures-based ETFs into trendwise strategies. These changes are expected to happen around December 3, 2024.
- BITC: The Bitwise Bitcoin Strategy Optimum Roll ETF will become the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF.
- AETH: The Bitwise Ethereum Strategy ETF will become the Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF.
- BTOP: The Bitwise Bitcoin and Ether Equal Weight Strategy ETF will become the Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF.
Bitwise’s Big Plans
Bitwise has already launched successful ETFs for Bitcoin and Ethereum in the US. This new push for trendwise ETFs shows they’re serious about expanding their crypto investment offerings. It’s a bold move, and it’ll be interesting to see how it plays out.
Disclaimer: This information is for general knowledge and doesn’t constitute investment advice. Do your own research before making any investment decisions. Cryptocurrency is risky, so invest wisely! /p>
