Bitwise Asset Management has taken a major step toward expanding crypto investment options in the United States by filing with the Securities and Exchange Commission (SEC) to launch 11 single-token “strategy” exchange-traded funds (ETFs). The move signals a deeper push into the altcoin market and could significantly broaden how U.S. investors gain regulated exposure to individual cryptocurrencies.
Bitwise Plans 11 Single-Token Strategy Crypto ETFs
According to the SEC filings, the proposed ETFs would each focus on a single cryptocurrency, including major altcoins such as Aave and others across decentralized finance (DeFi), artificial intelligence (AI), and layer-1 blockchain ecosystems. Rather than operating as simple spot ETFs, Bitwise has structured these products as “strategy ETFs.”
Each fund would follow a rules-based framework to gain exposure to its target asset. Specifically, up to 60% of a fund’s assets could be invested directly in the underlying cryptocurrency, while at least 40% would be allocated to exchange-traded products (ETPs) that reference or provide exposure to that same token. The strategy may also include the use of derivatives to adjust or fine-tune exposure.
This structure sets the proposed funds apart from traditional spot crypto ETFs and gives Bitwise more flexibility in how each product tracks its respective asset while staying within regulatory guidelines.
How These ETFs Fit Into Bitwise’s Broader Crypto Lineup
Bitwise already operates a diverse lineup of crypto-related ETFs in the U.S. market. Its existing spot offerings include the Bitwise Bitcoin ETF, Bitwise Ethereum ETF, Bitwise Solana Staking ETF, and the Bitwise XRP ETF, all of which hold their underlying assets directly. The firm also offers equity-based and index products such as the Bitwise Crypto Industry Innovators ETF, which invests in publicly traded crypto companies, and the Bitwise 10 Crypto Index ETF, which tracks a basket of the largest digital assets.
In addition, Bitwise manages futures-based crypto strategies tied to CME futures markets. The newly proposed single-token strategy ETFs would sit alongside this lineup but target a different investor profile. Instead of diversified exposure, these funds would concentrate on individual altcoins while applying a consistent, transparent strategy across all 11 products.
The filings come amid a surge in crypto ETF activity. Other issuers, including VanEck, 21Shares, and Grayscale, have recently launched or applied for altcoin-focused ETFs and ETPs. Notably, Grayscale has moved to convert its Bittensor trust into a spot ETF. However, Bitwise’s proposal stands out for its scale: an entire suite of single-token ETFs built around a unified strategy, offering U.S. investors a new, regulated way to access altcoins through traditional financial markets.
