Bitwise, a $4.5 billion crypto-asset manager, has filed for its second cryptocurrency exchange traded fund (ETF).
The U.S. Securities and Exchange Commission has reported that Bitwise today filed a form N-1A to introduce a new ETF called Bitwise Trendwise Treasuries and Bitcoin Rotation Strategy (BITC).
The Form N-1A must be completed by management companies.
Bitwise filed its second ETF with the SEC in the last week.
According to an article, Bitwise filed a S-1 Registration Statement to the SEC on Wednesday morning for a spot ETF that tracks the movements in XRP’s price.
Bitwise launched ETFs for Bitcoin (BTC), and Ethereum (ETH) in the United States with great success.
According to the filing today, BITC is a new type of ETF that will capitalize on Bitcoin’s potential upside while mitigating its downside risk by rotating to U.S. Treasuries as Bitcoin’s price stabilizes.
According to a Bitwise press release, this filing forms part of an overall effort by Bitwise to convert futures-based ETFs (exchange traded funds) into investment vehicles that follow a trendwise strategy.
The conversion will take place around or on December 3, 2024. Funds will be renamed and their strategies changed as follows.
Bitwise Bitcoin Strategy and Treasuries Rotation Strategy: Bitwise Bitcoin Strategy and Optimum roll ETF will be converted to Bitwise Trendwise Bitcoin Treasuries rotation strategy ETF
AETH – The Bitwise Ethereum Strategy and Treasuries ETF will be converted to Bitwise Trendwise Ethereum Rotation Strategy ETF
“BTOP: Bitwise Trendwise Bitcoin/ETH/Treasuries Rotation Strategy will be converted to Bitwise Trendwise Bitcoin and Ether Equal Weight Strategy”
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The post Bitwise continues SEC filing spree with Bitwise Trendwise Bitcoin Treasuries and Rotation Strategy ETF BITC may change as new information becomes available.
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