Bitwise Launches ETF Combining Bitcoin and Metals to Hedge Currency Decline

Bitwise Asset Management has introduced the Bitwise Proficio Currency Debasement ETF (BPRO) on NYSE Arca as of January 22. This ETF combines Bitcoin, gold, other precious metals, and mining stocks to capitalize on the declining purchasing power of fiat currencies. It maintains a minimum of 25% in gold.

The fund is traded under the ticker BPRO with an annual fee of 0.96%.
Bitwise manages over $15 billion in assets and partners with Proficio Capital Partners for the fund's strategy.
Proficio Capital Partners manages around $5 billion in assets; co-founder Bob Haber was previously Chief Investment Officer at Fidelity Investments Canada.

Market Context

BPRO joins a market with similar products like Quantify Funds' BTGD, launched in October 2024, which also targets currency debasement hedging through Bitcoin and gold.
BPRO offers a lower expense ratio compared to BTGD and includes additional precious metals and mining stocks, allowing for more flexible asset allocation.
21Shares’ BOLD product has provided Bitcoin and gold exposure since 2022.
The launch coincides with rising interest in physical assets like gold as protection against currency devaluation. Gold prices have hit record highs above $4,900 per ounce.

Bitwise recently launched a Chainlink ETF and has filed for 11 additional crypto ETFs, reflecting growing demand for diversified crypto investment options amidst economic uncertainties.