Key Highlights
- Bitwise has launched the Bitwise Proficio Currency Debasement ETF (BPRO) on the NYSE, an actively managed fund blending Bitcoin, Gold, Silver, and mining stocks.
- Unlike passive spot ETFs (like IBIT), BPRO rotates assets to hedge against inflation, maintaining a minimum 25% allocation to physical gold to dampen volatility.
- The launch capitalizes on the recent “Great Decoupling” where Gold rallied while Bitcoin corrected, offering investors a single ticker that balances both “Hard Assets.”
For years, investors have argued over whether Bitcoin or Gold is the better hedge against inflation. Bitwise Asset Management has decided that the answer is “Both.” On Thursday, together with Proficio Capital Partners, it launched the Bitwise Proficio Currency Debasement ETF (NYSE: BPRO), a first-of-its-kind exchange-traded fund (ETF) designed to protect investors from the declining value of money.
It allows investors to put their money in assets that usually keep their value, like Bitcoin, gold, silver, other precious metals, and mining companies.
According to the official release, BPRO is actively managed, which means the managers can change how much is invested in each asset depending on the market. At least 25% of the fund will always be in gold. The total expense for investors is 0.96% of the fund each year.
Focus on currency debasement risk
By combining the explosive upside of Bitcoin with the centuries-proven stability of Gold, BPRO aims to modernize the traditional “60/40” portfolio for an era of $38 trillion national debt.
BPRO mixes crypto and commodity-linked assets, which makes it attractive to wealth managers and investors who want Bitcoin exposure without putting all their money in a single crypto product.
“Despite its stellar performance, gold remains a ghost in the modern portfolio. Currency debasement isn’t just a theoretical risk; it is an active tax on every dollar an investor saves,” said Bob Haber, Chief Investment Officer at Proficio Capital Partners.
Why inflation protection matters
This launch arrives at a critical moment. As illustrated by recent market data, Bitcoin and Gold have recently decoupled. BPRO is designed to navigate exactly this kind of environment by providing a hedge against currency debasement. The U.S. dollar lost around 40% of its purchasing power in the last 20 years. At the same time, the national debt grew from $7.5 trillion to nearly $38 trillion. Interest payments on this debt alone are over $1 trillion a year, which is more than what the U.S. spends on defense.
“By combining the historical scarcity of gold with the modern, digital scarcity of Bitcoin, BPRO offers a powerful new way to hedge against the persistent decline of fiat currency. We believe this ‘hard asset’ approach is the missing piece for the modern portfolio,” said Matt Hougan, Chief Investment Officer at Bitwise.
This combined approach allows the fund to shift between Bitcoin, gold, silver, and related assets as market conditions change, using both modern digital tools and traditional hard assets to guide investment decisions. For investors who want crypto exposure but can’t stomach the volatility of a 100% Bitcoin allocation, BPRO offers a regulated, NYSE-traded middle ground.
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