Bitwise has introduced another crypto ETF filing following its bid for an XRP fund with the U.S. Securities and Exchange Commission.

New Bitcoin and U.S. Treasuries Fund

Bitwise has furthered its exchange-traded fund (ETF) initiatives by applying for a new fund that targets Bitcoin and U.S. Treasuries. According to Bloomberg’s James Seyffart, this product, identified by the ticker BITC, will allocate capital between the leading cryptocurrency and America’s premier short-term debt obligations.

Initially filed last December, Bitwise has now submitted amended documents, renaming its latest crypto investment vehicle to the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF. This marks the third ETF filing from the crypto index fund manager this week. On October 1, Bitwise aims to expand its digital asset product suite by registering a Delaware Trust for a potential ETF.

Bitwise continued this process with official Form S-1 paperwork filed with the U.S. SEC on October 2, confirming a registration of securities bid at the Wall Street regulator.

We have @BitwiseInvest out with another ETF filing. Will be a treasury and bitcoin rotation strategy. Ticker will be $BITC.

The SEC needs to approve both Form S-1 documents and 19b-4 Forms before a Bitwise XRP ETF, or any crypto ETF, can list and trade on national exchanges.

Institutional Appetite for Bitcoin

The surge in crypto fund filings comes in early Q4, historically a bullish period for cryptocurrencies and other assets. Analysts from CryptoQuant and QCP Capital have highlighted a growing institutional appetite for Bitcoin and altcoins like Ethereum and Solana, despite geopolitical tensions and recent institutional outflows.

Spot Bitcoin ETFs have seen particular success since their launch in January. Glassnode noted that U.S. spot BTC ETFs hold nearly 5% of Bitcoin’s 21 million token supply.

US Spot ETFs hold 4.6% of Bitcoin supply, valued at $58B. Recent balance growth includes Grayscale’s Bitcoin Mini Trust holdings, highlighting the strong institutional demand for regulated BTC exposure.

In summary, investors have parked over $58 billion in capital in spot Bitcoin funds. Experts believe this trend will continue and accelerate as the year progresses deeper into its fourth quarter.

Spot Ethereum ETFs Struggle

Conversely, spot Ethereum ETFs have faced challenges compared to the rapid adoption of Bitcoin products. The spot ETH ETF complex holds $6.4 billion in assets, slightly more than 10% of spot BTC ETF assets. Bitwise CIO Matt Hougan mentioned that ETH ETFs might surprise observers in a year, although he acknowledged that Ethereum funds may have launched prematurely.

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