- Bitwise Asset Management launched a new actively managed ETF to hedge against fiat currency debasement.
- The fund trades on the NYSE under ticker BPRO and holds a minimum 25% allocation to Gold.
- BPRO combines discretionary allocations to Bitcoin, precious metals and mining equities and targets capital preservation.
- The fund charges a 0.96% expense ratio and aims to appeal to wealth managers seeking multi-asset exposure to stores of value.
- Debate continues over Bitcoin’s role as a debasement hedge after episodes when gold outperformed Bitcoin.
Bitwise Asset Management on Thursday launched the Bitwise Proficio Currency Debasement ETF, an actively managed fund that seeks to protect purchasing power by holding Bitcoin, precious metals and mining equities, according to the firm’s announcement. The ETF began trading on the NYSE under the ticker BPRO and is aimed at investors concerned about long‑term currency debasement; see the firm’s release for details.
The fund allows managers to allocate across crypto and commodity-linked assets rather than tracking a single token. BPRO enforces a minimum 25% allocation to gold at all times and carries a 0.96% expense ratio.
Managers present the strategy around capital preservation rather than aggressive upside, positioning the product for advisors who want Bitcoin exposure without using a single-asset crypto vehicle. The discretionary structure may appeal to wealth managers amid persistent inflation concerns.
Critics note that Bitcoin has recently underperformed gold in some macro episodes, raising questions about its near-term reliability as a debasement hedge. Investment specialist Karel Mercx of Beleggers Belangen argued that Bitcoin did not respond to political pressure on central bank independence in the same way gold did.
Bob Haber, chief investment officer at Proficio Capital Partners, highlighted gold’s low representation in private portfolios and said “gold remains a ghost in the modern portfolio.” The launch follows broader industry activity around crypto investment products and related filings. See a related post from Matt Hougan and a related video discussion here. Readers are encouraged to verify information independently; see the editorial policy.
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