TechFlow news, October 5 — According to CoinDesk, asset management firm Bitwise announced the launch of a new ETF product, the Bitwise Trendwise Bitcoin and Treasury Rotation Strategy ETF (BITC). The fund will officially transition on December 3, consolidating three of the company’s previous futures-based ETF products.
BITC employs an innovative rotation strategy that flexibly shifts between 100% exposure to cryptocurrency futures contracts and 100% exposure to U.S. Treasuries, aiming to better manage the high volatility of the crypto market. The new fund carries an annual expense ratio of 0.85%.
This move by Bitwise responds to market changes following the launch earlier this year of spot bitcoin and ether ETFs. The company stated that with the availability of spot crypto ETFs, futures-based crypto funds have become less attractive to investors seeking long-term capital appreciation.
