Bitwise Files for 11 New Crypto ETFs Including AAVE and ZEC
- Bitwise submitted a filing to the SEC for 11 crypto “strategy” ETFs, featuring tokens like AAVE ($149.49) and ZEC ($525.46).
- The proposed strategy allows up to 60% of fund assets to be invested directly in the underlying tokens, with the remainder in exchange-traded products and derivatives.
- This filing coincided with Grayscale’s application to convert its Bittensor trust into an exchange-traded product.
- Bittensor rewards contributors in TAO for their machine learning models and computing power, highlighting a growing interest in AI-related crypto assets.
- Bitwise has previously launched spot ETFs linked to Bitcoin, Ethereum, Solana, and XRP.
The rapid expansion of Bitwise’s ETF offerings reflects increasing interest from investors in diverse crypto assets beyond Bitcoin and Ethereum following recent successes in the ETF market.
With this new filing, Bitwise aims to tap into emerging trends such as AI-driven projects, as evidenced by Bittensor’s focus on decentralized machine learning development.(Source)
