Bitwise launches ETF combining Bitcoin, gold, and mining stocks
Bitwise Asset Management has launched a new exchange-traded fund (ETF) combining Bitcoin, precious metals, and mining stocks, as asset managers expand the role of cryptocurrencies within macroeconomic and capital preservation strategies.
On Thursday, Bitwise unveiled the Bitwise Proficio Currency Debasement ETF, which trades on the NYSE under the ticker BPRO. The actively managed fund aims to address the erosion of fiat currency purchasing power through a diversified portfolio that includes Bitcoin, precious metals, and mining company equities.
As reported by Cointelegraph, unlike spot Bitcoin ETFs, BPRO allows for discretionary allocation between crypto and commodity-related assets. The fund’s structure appears tailored to asset managers seeking Bitcoin exposure without being tied to a single digital asset, particularly amid persistent inflation concerns.
The fund maintains a minimum gold allocation of 25% and carries an expense ratio of 0.96%. Rather than focusing on upside growth, BPRO is designed around capital preservation, reflecting the evolving role of cryptocurrencies in institutional investment strategies.
Bitcoin loses ground to gold
Bitcoin has long been promoted as a long-term hedge against currency debasement due to its fixed supply and strong historical performance. However, despite these attributes, Bitcoin has recently underperformed gold, raising questions about its effectiveness as a hedge in the current macroeconomic environment.
In a recent analysis, investment expert Karel Mercx of Dutch advisory firm Beleggers Belangen argued that Bitcoin has failed to meet expectations as a reliable hedge against currency debasement. According to him, the most telling signal came when Bitcoin underperformed even as U.S. President Donald Trump publicly undermined the independence of the Federal Reserve.
At the same time, Goldman Sachs data shows that gold ETFs still account for only a fraction of private financial assets, a gap that Bitwise’s new product appears designed to help address.
As we wrote, Why is platinum up today (January 23)?
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