Bitwise to Shift 3 of Its Bitcoin and Ethereum Futures ETFs to Alternate Between Crypto and US Treasuries

The company's crypto futures ETFs — including the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC), the Bitwise Ethereum Strategy ETF (AETH), and the Bitwise Bitcoin

Three Bitwise crypto futures exchange-traded funds (ETFs) will soon shift their strategies to alternate between crypto and US Treasuries, the company announced Oct. 4.

The Bitwise Bitcoin Strategy Optimum Roll ETF (BITC), the Bitwise Ethereum Strategy ETF (AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP) will be rebranded to the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC), the Bitwise Trendwise Ethereum and Treasuries Rotation Strategy ETF (AETH) and the Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP), respectively.

The adjustment is expected to occur by Dec. 3, the fund manager announced.

Notably, the move comes during the same week that the asset manager applied to the U.S. Securities and Exchange Commission (SEC) for a spot XRP ETF.

According to the statement, these ETFs will adjust their exposure to crypto or U.S. Treasuries, depending on the market conditions. During positive market trends, they will focus on crypto investments, while during downturns, they will shift to U.S. Treasuries.

Bitwise explained that the Trendwise strategy improves risk-adjusted returns by taking advantage of market momentum while offering protection during bearish conditions. The strategy relies on a proprietary signal that monitors the 10- and 20-day exponential moving averages (EMA) of crypto prices.

So, when the 10-day EMA surpasses the 20-day EMA—signaling upward momentum—the funds will invest in crypto. If the situation reverses, the funds will rotate into U.S. Treasuries.

Bitwise CIO Matt Hougan explained that this strategy reflects broader trends in asset management. He stated:

“The new Trendwise strategies capitalize on that momentum through a trend-following strategy that rotates between crypto and Treasuries exposure based on market direction. The goal is to help minimize downside volatility and potentially improve risk-adjusted returns.”

Meanwhile, Bitcoin market analyst Joe Consorti praised the development, stating:

“This is massive news for bitcoin as a macro asset. U.S. Treasuries are the preferred asset for all of the world’s financial institutions. Adding bitcoin to a rotating investment vehicle will juice UST returns and be an enticing diversifier for UST-heavy balance sheets.”

These changes will not impact the funds’ expense ratios or tax treatment, so current investors will not need to take any action.

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