The asset manager said the launch of the spot crypto exchange-traded funds this year has made futures-based crypto products less compelling.

• Bitwise is converting three of its futures-based exchange-traded products into a single fund.
• The fund, called the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF, will rotate between 100% exposure to crypto futures contracts and 100% exposure to U.S. Treasuries.
• The conversion will take place on Dec. 3, the asset manager said.

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