Bitwise files for 11 'strategy' ETFs, tracking tokens including AAVE, ZEC, TAO

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitwise files for 11 'strategy' ETFs, tracking tokens including AAVE, ZEC, TAO The exchange-traded funds will invest both directly and indirectly in the tokens. By Olivier Acuna | Edited by Sheldon Reback Dec 31, 2025, 11:20 a.m. Bitwise files with SEC for 11 strategy ETFs (Don Ramey Logan/Creative Commons modified by CoinDesk) What to know : Bitwise filed with the SEC to introduce 11 crypto strategy ETFs, covering tokens including AAVE, UNI and ZEC. The ETFs will invest up to 60% in the underlying token, with the rest in exchange-traded products and derivatives. The filing coincides with Grayscale's move to convert its bittensor trust into an exchange-traded product as decentralized AI gains traction. Crypto asset manager Bitwise filed with the U.S. Securities and Exchange Commission to introduce 11 crypto "strategy" exchange-traded funds (ETFs) including aave AAVE $ 150.48 , uniswap UNI $ 5.9035 , zcash ZEC $ 527.25 , SUI $ 1.4449 and TAO $ 222.58 . The Tuesday N-1A filing details an approach that includes investing up to 60% of a fund's assets directly in the underlying token, with the remainder allocated to exchange-traded products and, potentially, derivatives such as futures and swaps. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The SEC filing was made the same day Grayscale submitted a filing to convert its bittensor trust to an exchange-traded product. Barry Silbert, chairman of Grayscale, said in a post on X that the move reflects how quickly decentralized AI is evolving as one of the newest investable themes in U.S. crypto markets. Bittensor operates as an open network that uses crypto-economic incentives to coordinate machine learning development, rewarding contributors of models and computing power with TAO. The project has drawn growing attention as investors seek exposure to AI-related crypto assets beyond traditional smart contract platforms. Bitwise’s applications underscore how quickly issuers are expanding beyond bitcoin and ether following the success of spot ETFs tied to the two largest cryptocurrencies. The firm has previously introduced spot ETFs linked to bitcoin, ether, solana and XRP, and has filed additional applications tied to assets such as sui and hyperliquid. The other tokens mentioned in the filing are HYPE $ 25.77 , NEAR $ 1.5171 , TRX $ 0.2842 , athena (ENA), STRK $ 0.07816 , canton coin (CC). Bitwise Asset Management SEC ETF ETFs More For You State of the Blockchain 2025 By CoinDesk Research Dec 19, 2025 Commissioned by Input Output Group L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below. What to know : 2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns. This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026. View Full Report More For You XRP and solana volatility in 2025 was twice as bumpy as bitcoin's By Omkar Godbole | Edited by Sheldon Reback 6 minutes ago ETFs tied to altcoins need to pull in deeper liquidity to match BTC's chill. What to know : Trading XRP and solana was twice as volatile as bitcoin in 2025. ETFs tied to altcoins need to pull in deeper liquidity to match bitcoin's chill. BTC's volatility has declined steadily through the year, mainly due to institutional demand for ETFs. 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