Thomas Daniels
Bitwise has intensified its crypto ETF expansion with a new filing targeting a Bitcoin-Treasury ETF, following its recent application for an XRP-based fund with the U.S. Securities and Exchange Commission (SEC).
This latest proposal, according to Bloomberg’s James Seyffart, would trade under the ticker BITC and employ a rotation strategy between Bitcoin and U.S. Treasuries—two prominent financial assets. The amended documents rebrand Bitwise’s offering as the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF, marking the asset manager’s third ETF filing this week.
Bitwise also registered a Delaware Trust on October 1 to support the potential listing of an XRP ETF, expanding its range of digital asset products. The following day, the company formalized its efforts with an official Form S-1 filing with the SEC. To clear regulatory hurdles, both the Form S-1 and corresponding 19b-4 must receive SEC approval before these ETFs can trade on national exchanges.
The series of filings coincides with the start of Q4, historically a strong quarter for digital assets. Analysts from CryptoQuant and QCP Capital have noted sustained institutional demand for Bitcoin, Ethereum, and other altcoins, despite recent market challenges and geopolitical tensions. Since their January launch, U.S. spot Bitcoin ETFs now hold nearly 5% of Bitcoin’s 21 million token supply—equivalent to roughly $58 billion—signifying substantial investor interest in this growing asset class.
In contrast, spot Ethereum ETFs have faced slower uptake. SoSoValue reports that the spot ETH ETF market holds $6.4 billion in assets, about 10% of spot Bitcoin ETF assets. Bitwise CIO Matt Hougan commented that ETH ETFs are likely to surprise the market in the coming year, even though some observers consider the early launch of these funds premature.
