- Bitwise filed an N-1A with the SEC to create 11 crypto strategy ETFs that would hold tokens and related products.
- The filing lets funds invest up to 60% in the underlying token, with the rest in exchange-traded products or derivatives.
- Grayscale filed to convert a Bittensor trust, and its chairman commented on the growing interest in decentralized AI.
Bitwise filed with the U.S. Securities and Exchange Commission on Tuesday to seek approval for 11 crypto “strategy” exchange-traded funds, including tokens such as AAVE, UNI, ZEC, Sui, and TAO. The filing is available as the N-1A filing and describes how the funds would allocate assets.
The filing allows each fund to invest up to 60% of assets directly in the underlying token, with the remainder in exchange-traded products and potentially in derivatives such as futures and swaps. An exchange-traded fund (ETF) is an investment vehicle that trades on an exchange and holds assets like stocks or tokens. Exchange-traded products (ETPs) are securities that track underlying assets and trade on exchanges. Derivatives are contracts whose value derives from an underlying asset; examples include futures (agreements to buy or sell an asset at a future date) and swaps (contracts to exchange cash flows).
The SEC filing came the same day that Grayscale submitted paperwork to convert its bittensor trust to an exchange-traded product, and chairman Barry Silbert commented publicly; he said in a post on X the move reflects rapid growth in decentralized AI as an investable theme. Bittensor is described as an open network that uses crypto-economic incentives to coordinate machine learning development and rewards contributors of models and computing power with the token TAO.
The filing highlights how issuers are broadening offerings beyond Bitcoin and ether after recent spot ETF approvals. Bitwise has previously launched spot ETFs tied to bitcoin, ether, solana and XRP and has filed for funds tied to other assets including SUI and HYPERLIQUID. Other tokens named in the new filing include HYPE, NEAR, TRX, ENA (athena), STRK, and CC (canton coin).
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