BlockBeats news reported on October 5 that Bitwise is planning to consolidate its three futures-based ETFs into a single ETF, with the conversion set to occur on December 3.
Bitwise recently introduced the Bitwise Trendwise Bitcoin and Treasury Rotation Strategy ETF (BITC), which merges the Bitwise Bitcoin Strategy Optm Roll ETF (BITC), the Bitwise Ethereum Strategy ETF (AETH), and the Bitwise Bitcoin and Eth Eq Wgh Str ETF (BTOP).
According to Bitwise, the introduction of spot Bitcoin and Ethereum ETFs earlier in the year has diminished the appeal of futures-based crypto funds for investors looking for long-term growth. The new ETF aims to help asset managers effectively navigate the volatility of the crypto market by shifting between 100% exposure to crypto futures contracts and 100% exposure to U.S. Treasuries depending on market trends.
You can read more about it here.
