Bitwise Asset Management, in partnership with Proficio Capital Partners, has launched the Bitwise Proficio Currency Debasement ETF (BPRO), a new actively managed exchange-traded fund now trading on the NYSE. The fund is designed to help investors hedge against the declining purchasing power of fiat currencies by providing exposure to a diversified portfolio of assets, including Bitcoin (BTC), gold, silver, other precious metals, and mining equities.
The ETF maintains a minimum allocation of 25% to gold at all times, with the remaining portion dynamically allocated across the other assets based on market conditions. It carries an annual management fee (expense ratio) of 0.96%. Unlike single-asset spot Bitcoin ETFs, BPRO's structure offers discretionary allocation, positioning it as a tool for wealth managers and investors seeking Bitcoin exposure within a broader macro strategy focused on capital preservation rather than speculative upside.
"We designed BPRO to offer a way for investors to safeguard their assets against the risks associated with reckless government spending and inflation," stated Bitwise. Bob Haber, Chief Investment Officer at Proficio Capital Partners, emphasized the fund's purpose, noting, "Currency debasement isn’t just a risk; it’s an ongoing tax on every dollar an investor saves." He also highlighted gold's underrepresentation in modern portfolios, citing Goldman Sachs research showing gold ETFs account for only a fraction of 1% of private financial holdings.
The launch reflects the evolving narrative of cryptocurrencies within institutional markets, integrating digital assets into traditional wealth preservation strategies. The news comes amid ongoing discussions about Bitcoin's recent performance relative to gold as a near-term hedge against currency debasement and political pressure on central banks.
