Bitwise Asset Management, in collaboration with Proficio Capital Partners, has unveiled a new exchange-traded fund (ETF) that aims to provide investors with exposure to Bitcoin, gold, silver, other precious metals, and mining equities. This fund is named the Bitwise Proficio Currency Debasement ETF (BPRO) and is designed to help investors protect their portfolios against the diminishing purchasing power of fiat currencies.
The BPRO ETF is set to maintain a minimum allocation of 25% to gold, while its exposure to various assets will be adjusted according to prevailing market conditions. The ETF seeks to offer a safeguard for investors amid concerns over reckless fiscal policies and increasing government deficits, as highlighted by Bitwise in their announcement.
Bob Haber, Chief Investment Officer at Proficio, emphasized the critical nature of currency debasement, stating, “Currency debasement isn”t just a theoretical risk; it is an active tax on every dollar an investor saves.” He added that BPRO represents an evolution in their ongoing mission to preserve wealth.
This ETF combines Bitwise”s expertise in the cryptocurrency sector with Proficio”s extensive background in precious metals. It has commenced trading on the NYSE and carries an annual management fee of 0.96%. The introduction of BPRO marks a significant step for investors looking to diversify their portfolios with assets that are resistant to inflation and market manipulation.
