One of the biggest players in the crypto ETF business is coming after something new: precious metals.
What’s happening:
- Bitwise Asset Management has officially launched a new ETF known as the Bitwise Proficio Currency Debasement ETF (NYSE: BPRO) to provide combined exposure to Bitcoin, gold, silver, precious metals and mining companies
Why it matters:
- This is the first time ever that Bitwise Asset Management has launched an ETF on a major stock exchange that provides exposure to precious metals
Going deeper:
- The Bitwise Proficio Currency Debasement ETF is formed in partnership with Proficio Capital Partners who has more than $5B USD in assets under management and advises high net worth families and charitable foundations
- The Bitwise Proficio Currency Debasement ETF will allocate a minimum of 25% of total assets under management directly to owning gold at all times and will adjust their allocations to silver, platinum, palladium, mining companies and Bitcoin based on volatility and market conditions
