Bitwise AM Launches Bitcoin Futures ETF

Bitwise Asset Management has launched a bitcoin futures exchange-traded fund (ETF), the Bitwise Bitcoin Strategy Optimum Roll ETF, aimed at long-term investors. The ETF will offer exposure to bitcoin while minimizing pricing inefficiencies that can arise with ETFs focused on front-month or near-month futures contracts. These contracts can generate roll costs that weigh on long-term performance. The Bitwise ETF will employ an “optimum roll” strategy that selects contracts with the lowest level of contango to address this issue. The fund will have a net expense ratio of 85 basis points.