Crypto asset management company Bitwise applies to the U.S. Securities and Exchange Commission to introduce 11 cryptocurrency “strategy” exchange-traded funds (ETFs) including aave ghost$149.47Uniswap Uni$5.9047Zcash ZEC$525.58, Sui$1.4481 and Tao$223.01.
Tuesday’s N-1A filing details an approach to invest up to 60% of the fund’s assets directly in the underlying tokens, with the remainder allocated to exchange-traded products and possibly derivatives such as futures and swaps.
The SEC filing came on the same day that Grayscale filed an application to convert its Bitzer Trust into a publicly traded product. Grayscale Chairman Barry Silbert said in a post on X that the move reflects the rapid evolution of decentralized AI as one of the most investable emerging themes in the US crypto market.
Bittensor operates as an open network that coordinates machine learning development using crypto-economic incentives, rewarding contributors of models and computing power through TAO. The project is gaining increasing attention as investors seek exposure to AI-related crypto assets beyond traditional smart contract platforms.
Bitwise’s application highlights how the issuer is rapidly expanding beyond Bitcoin and Ether following the success of spot ETFs tied to the two largest cryptocurrencies. The company has previously introduced spot ETFs linked to Bitcoin, Ether, Solana, and XRP, and has filed additional filings related to assets such as Sui and HyperLiquid.
Other tokens mentioned in the filing include: hype$25.78, near$1.5094, TRX$0.2831Athena (ENA), Strak$0.07816Canton Coin (CC).