- Bitwise seeks SEC approval for 11 ETFs using up to 60% direct token holdings plus ETPs, futures and swaps.
- The proposed ETFs target assets including AAVE, UNI, TAO, TRX, ZEC and NEAR, focusing on capital appreciation.
- Filings follow prior spot BTC and ETH ETF approvals, with a tentative effective date set for March 16, 2026.
Bitwise Asset Management filed applications on Tuesday in the United States with the Securities and Exchange Commission for 11 new cryptocurrency exchange-traded funds. The filings, submitted through an N-1A form, detail plans for funds that invest in specific tokens and related exchange-traded products. Bitwise pursued the applications as part of its expansion into regulated crypto investment vehicles after previous ETF approvals.
Direct and Indirect Asset Exposure
According to the filing, each fund intends to allocate up to 60% of its assets directly into a token. The remaining portion would be invested in exchange-traded products tied to the same token.
Bitwise also included language permitting exposure through derivatives such as futures and swap agreements. The SEC documents state that at least 80% of net assets plus borrowings will be allocated to the token, related ETPs, or derivatives in normal market conditions.
The applications reference trading activity through digital asset platforms and over-the-counter transactions with approved trading counterparties. Additionally, notional values will be used to determine compliance with asset requirements for derivatives.
Eleven Funds Target AAVE, UNI, TAO, TRX, and Other Tokens
The proposals cover Aave (AAVE), Uniswap (UNI), Zcash (ZEC), NEAR Protocol (NEAR), Sui (SUI), TRON (TRX), Hyperliquid (HYPE), Ethena (ENA), Starknet (STRK), Bittensor (TAO), and Canton Network (CC).
The filing states that the ETFs focus on capital appreciation. The documents also indicate an expected effective date of March 16, 2026, though this remains subject to review.
Context From Prior SEC Decisions and Approvals
The filing follows earlier approvals involving Bitwise products. In January 2024, the SEC authorized eleven spot bitcoin ETFs. Later, the regulator fast-tracked Bitwise spot Bitcoin and Ethereum ETFs, approving them in 45 days.
On January 30, 2025, NYSE Arca’s 19b-4 filing enabled a listing for another Bitwise ETF holding Bitcoin and Ethereum. However, some products, including Bitwise’s attempt to convert BITW, encountered delays after the SEC paused delegated actions.
