Bitwise Launches ETF

Bitwise has announced the launch of the Bitwise Proficio Currency Debasement ETF on the New York Stock Exchange, under the ticker BPRO. According to Foresight News, this actively managed investment strategy targets assets that benefit from the declining purchasing power of global fiat currencies, including gold, Bitcoin, silver, other precious metals, and mining stocks.Bitwise highlights that since 2006, the purchasing power of the U.S. dollar has decreased by 40%, with U.S. debt nearing $40 trillion and interest payments on debt expected to exceed $1 trillion by the 2026 fiscal year. BPRO aims to provide investors with a means to mitigate risks associated with rising deficits and currency issuance by investing in assets resistant to inflation and manipulation. The fund is launched in collaboration with Proficio Capital Partners, which manages assets worth $5 billion. While the fund does not directly invest in crypto assets, it gains indirect exposure through investments in Crypto ETPs.