New Investment Opportunities Brought by Regulatory Environment Developments: Bitwise Submits 11 Cryptocurrency ETFs to the SEC

As institutional investors accelerate their entry into the cryptocurrency market, Bitwise has taken a major strategic step to expand its cryptocurrency ETF portfolio. The 11 cryptocurrency exchange-traded funds (ETFs) it has submitted to the U.S. Securities and Exchange Commission(SEC) symbolize both increased regulatory transparency and diversification of investment products in the market.

Innovative Structure of New Investment Products

What sets these proposed ETFs apart from traditional spot cryptocurrency ETFs is their hybrid structure. While up to 60% of the assets are invested directly in underlying cryptocurrencies, the remaining 40% is allocated to derivative products(derivatives) and other exchange-traded products(ETPs).

This hybrid approach allows Bitwise to achieve greater flexibility within existing regulatory frameworks. By incorporating derivatives such as futures and swaps, the firm has increased investor options for cryptocurrencies with limited liquidity, while also building mechanisms to mitigate risks associated with volatility.

Multi-layered Cryptocurrency Exposure

The 11 ETFs submitted by Bitwise cover a broad range of the blockchain ecosystem. From core protocols of decentralized finance(DeFi) to emerging blockchain platforms, a diverse array of investment targets is included.

Major DeFi Protocol Tokens:

• AAVE (AAVE): Current price $170.07, 24-hour change -4.61%, market cap $2.58B. A leading lending protocol
• Uniswap (UNI): $5.28, 24-hour change -8.23%, market cap $3.35B. Core infrastructure for decentralized trading
• Zcash (ZEC): $410.79, 24-hour change -6.98%, market cap $6.78B. Pioneer in privacy networks

Emerging Blockchain Platforms:

• Sui (SUI): $1.79, 24-hour change -3.11%, market cap $6.78B. Move language-based smart contract platform
• TRON (TRX): $0.31, 24-hour change +2.60%, market cap $29.45B. Ecosystem of decentralized applications
• Canton Network (CC): $0.13, 24-hour change -4.26%, market cap $5.01B

AI and Infrastructure-Related:

• Bittensor (TAO): $278.60, 24-hour change -5.36%, market cap $2.67B
• Ethena (ENA): $0.22, 24-hour change -8.15%, market cap $1.77B
• Hyperliquid (HYPE): $24.52, 24-hour change -6.36%, market cap $5.85B

Additionally, Starknet(STRK) and NEAR Protocol(NEAR) are included in the applications, providing investors access to a wide range of Layer 2 solutions and chains with different consensus mechanisms.

Impact of Regulatory Approval on the Market

If these ETFs gain SEC approval, it will be significant for individual investors in the U.S. It would enable access to a variety of cryptocurrencies within a regulated environment without the barriers of complex wallet management or choosing custodians.

Bitwise’s Chief Investment Officer Matt Hougan remains optimistic about the long-term outlook despite current market adjustments. According to his analysis, the development of a regulatory environment and inflows from institutional investors could cause Bitcoin to break away from its traditional 4-year cycle, potentially reaching new all-time highs by 2026.

Ongoing Diversification of Portfolio Strategies

Bitwise continues to expand its cryptocurrency product offerings. By the end of 2025, the company plans to file for a Bitcoin ETF tracking the top 10 cryptocurrencies by market cap, and has already applied for an ETF that may distribute staking rewards to shareholders, such as Avalanche(AVAX), currently priced at $13.73, with a 24-hour change of -6.34% and a market cap of $5.91B. These moves reflect strategies to adapt to a maturing crypto market, focusing on institutionalization and product differentiation.