Bitwise introduces new actively managed ETF combining Bitcoin and gold holdings
A new actively managed investment vehicle merges Bitcoin with precious metals and mining equities as fund managers broaden cryptocurrency's integration into macroeconomic and wealth-preservation portfolios.
A newly launched exchange-traded fund (ETF) from Bitwise Asset Management aims to provide protection against currency debasement, highlighting the growing trend of integrating digital assets into comprehensive macroeconomic investment approaches in the wake of successful spot Bitcoin ETF launches.
Bitwise introduced the Bitwise Proficio Currency Debasement ETF on Thursday, which is available for trading on the NYSE using the ticker symbol BPRO. This actively managed investment vehicle is designed to combat the decreasing purchasing power of fiat currencies by utilizing a diversified portfolio comprising Bitcoin (BTC), precious metals and equities in mining companies.
In contrast to spot Bitcoin ETFs, BPRO provides flexibility through discretionary allocation across cryptocurrency and commodity-related assets. This framework seems targeted toward wealth managers who want Bitcoin exposure while avoiding a concentrated single-asset crypto investment, especially given ongoing inflation concerns.
The investment vehicle guarantees a minimum allocation of 25% in gold at all times and features an expense ratio of 0.96%.
Instead of highlighting potential gains, the fund centers its strategy on capital preservation, a positioning that demonstrates how cryptocurrency narratives are transforming within institutional investment markets.
Bob Haber, chief investment officer at Proficio Capital Partners, said that despite its long-term performance, "gold remains a ghost in the modern portfolio," citing research from Goldman Sachs showing that gold ETFs account for only a fraction of 1% of private financial holdings.
Debasement captures crypto's imagination and investment style
The gradual erosion of purchasing power over time, known as fiat currency debasement, has remained a core concern among members of the Bitcoin community for an extended period.
In a recent analysis, investment specialist Karel Mercx of Dutch advisory company Beleggers Belangen argued that Bitcoin has failed to deliver as a reliable hedge against currency debasement.
According to Mercx, the most striking signal came when Bitcoin underperformed even as US President Donald Trump publicly undermined the Federal Reserve's independence.
When a central bank faces political pressure, it can trigger concerns about monetary credibility and potential long-term inflation risks, creating conditions that have traditionally favored assets perceived as stores of value. While gold responded to those signals, Bitcoin did not, weakening its case as a near-term hedge against currency debasement.