Bitwise has intensified the competition in the crypto ETF arena by filing with the U.S. Securities and Exchange Commission (SEC) for 11 single-token "strategy" crypto ETFs. The filings indicate Bitwise's intention to transition altcoin trading from a niche, offshore activity to a regulated, ticker-based exposure on mainstream brokerage platforms.
The company submitted Form N-1A applications for strategy ETFs linked to a variety of assets, including Aave (AAVE), Uniswap (UNI), Tron (TRX), Sui (SUI), NEAR, Zcash (ZEC), Bittensor (TAO), and emerging narratives like Ethena (ENA) and HYPE. Each fund intends to allocate approximately 60% of its assets to direct holdings of the underlying token and 40% to existing exchange-traded products (ETPs) or derivatives in order to maintain liquidity and operational flexibility in accordance with SEC standards.
If the SEC approves the registration statements without intervention, the preliminary documents suggest a target effective date of around March 16, 2026. Bitwise views the suite as a continuation of its previous work on Solana and XRP products, which aided in the development of a playbook for incorporating single-asset altcoin exposure into a U.S. ETF wrapper.
Bitwise's action occurs as a result of the SEC's late-2025 shift toward "universal listing standards" for commodity-style crypto ETPs, which reduced typical timelines and eliminated the need for bespoke approvals for each product. The company is now relying on that framework to promote a full slate of altcoin funds at once, rather than drip-feeding filings over several quarters. Regulators, however, retain the right to challenge any specific structure.
The selection of assets reveals a calculated strategy by Bitwise. The inclusion of AAVE and UNI directly targets the growing institutional interest in decentralized finance. These tokens govern two of the largest DeFi protocols by total value locked. Meanwhile, assets like NEAR and others are also included.
Bitwise's filing proposes ETFs for 11 assets: AAVE, UNI, ZEC, CC, ENA, HYPE, NEAR, STRK, SUI, TAO, and TRX. This list includes DeFi governance tokens, layer-1 blockchain tokens, and other specialized digital assets. Each ETF would invest at least 60% of its assets directly in the spot (actual) cryptocurrency. The remaining portion (up to 40%) would be allocated to other exchange-traded products that hold the same asset. The funds may also use derivatives like futures for exposure management.
Bitwise's filing for 11 new crypto ETFs represents a bold strategic push into the next frontier of digital asset investment products. By targeting assets like AAVE and UNI with a 60% spot-backed model, the firm is testing the boundaries of current SEC policy. The proposal's success hinges on regulatory interpretation, market infrastructure, and demonstrated investor protection mechanisms. If approved, these Bitwise crypto ETFs would unlock unprecedented mainstream access to a diversified portfolio of cryptocurrency innovations, potentially catalyzing the next wave of institutional adoption.
Bitwise, founded in 2017, is a specialist partner to thousands of investment professionals and financial institutions looking to understand and access crypto assets. The company has over 30 investment products spanning ETFs, separately managed accounts, private funds, hedge fund strategies, and staking.
