Bitwise files applications for 11 new crypto ETFs with SEC
Bitwise Asset Management escalated its campaign to bring more digital assets into regulated U.S. markets, filing applications on Dec. 30 for 11 new cryptocurrency exchange-traded funds with the Securities and Exchange Commission.
While key details such as fees and trading symbols remain pending, the filings outline a framework designed to deliver exposure through a blend of direct token ownership, crypto-linked exchange-traded products (ETPs) and derivatives.
According to the SEC, the funds’ primary objective is to provide capital appreciation. The proposed ETFs target a broad lineup of tokens: AAVE, CC, ENA, HYPE, NEAR, STRK, SUI, TAO, TRX, UNI and ZEC. The filing documents indicate the products are expected to take effect on March 16, 2026, pending SEC review and approval.
Allocation strategy leans heavily on direct ownership
Under the proposed structure, each fund would invest roughly 60% of assets directly in the applicable token. The remaining 40% would be allocated to ETPs tracking the same asset, with additional exposure permitted through futures and swap agreements tied to either the token or its related ETPs.
Bitwise stated that each ETF would invest at least 80% of net assets plus borrowings in the token, token-linked ETPs and token derivatives under normal conditions. To ensure compliance with that threshold, derivative contracts would be valued at their notional value. The filings also note that purchases and sales may occur on digital asset trading platforms or via over-the-counter transactions with independent third-party trading counterparties.
SEC scrutiny remains central to crypto ETF expansion
The latest filings arrive as U.S. regulators continue to shape the boundaries of crypto access through ETFs. In January 2024, the SEC approved 11 spot Bitcoin ETFs, establishing the most significant regulatory pathway to date. The agency has also argued that certain cryptocurrencies may qualify as securities, signaling that oversight could expand beyond Bitcoin.
Earlier this year, the SEC granted fast-track approval for Bitwise’s spot Bitcoin and Ethereum ETF, shortening the review process from the typical 240 days to 45 days. As Bitwise seeks approval for a wider set of tokens, market participants will watch whether the SEC extends similar flexibility—or applies tighter standards as crypto ETFs move deeper into mainstream finance.
Bitwise CIO Matt Hougan said crypto index funds could become one of the fastest-growing investment products next year as investors seek broader, simpler exposure to digital assets. He argued the market is increasingly complex and unpredictable, making diversified multi-asset ETFs more attractive even as bitcoin still accounts for nearly 60% of total crypto market value.
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