New Move from Bitwise, Applying for XRP ETF!

Bitwise Asset Management also included U.S. Treasury bonds to manage volatility more effectively. crypto para It is preparing to overhaul three of its futures ETFs.

After XRP ETF Application, Bitwise Makes Changes to Cryptocurrency Futures ETFs

The firm announced its plans and outlined significant changes to its investment strategy in a filing with the U.S. Securities and Exchange Commission (SEC) today.

Bitwise Bitcoin Strategy Optimum Roll ETF will be renamed as Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF and the change in focus will be made. Similarly, Bitwise Ethereum Strategy ETF and Bitwise Bitcoin and Ether Equal Weight Strategy ETF will also be revamped to include Treasury bonds. According to Bitwise, the migrations are expected to be completed by December 3, 2024.

“The new Trendwise strategies leverage momentum through a trend-following approach that alternates exposure to crypto and Treasuries depending on market direction,” said Matt Hougan, Chief Investment Officer at Bitwise. “The goal is to potentially improve risk-adjusted returns while downside is to help minimize volatility.”

This regulation is designed to reduce the often high volatility associated with cryptoassets by incorporating the stability of U.S. Treasury securities into the portfolio mix.

Bitwise has made significant strides in the crypto investment world throughout 2024. The company, which launched the spot Bitcoin ETF in January, then approved and launched the spot Ethereum ETF. Both products received approval from the SEC after a lengthy regulatory review, marking significant milestones in the crypto ETF space.

Earlier this week, Bitwise took another bold step by filing a registration statement with the SEC for its spot XRP ETF. If approved, this would be the first spot ETF for XRP, a digital asset tied to Ripple. However, the approval process may face hurdles as the SEC is currently in a legal dispute with Ripple. The agency claims that Ripple raised $1.3 billion through the sale of XRP, which the SEC considers an unregistered security.

*This is not investment advice.