Key Highlights
Bitwise and Proficio launched BPRO, which invests in Bitcoin, gold, precious metals, and mining stocks.
The ETF trades on the NYSE, keeps at least 25% of its holdings in gold, and has an expense ratio of 0.96%.
BPRO differs from spot Bitcoin ETFs by allowing flexible allocation across crypto and commodity-related assets instead of holding only Bitcoin.
Bitwise Asset Management, together with Proficio Capital Partners, has launched the Bitwise Proficio Currency Debasement ETF (BPRO), which is now trading on the New York Stock Exchange.
The exchange-traded fund (ETF) is designed to protect investors from the declining value of money by investing 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
The fund is different from other Bitcoin ETFs because it does not only focus on one type of asset. 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
The idea behind BPRO is to provide a hedge against currency debasement, which often happens when the value of money goes down over time because of inflation, high government spending, and printing more money. 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.
BPRO brings together Bitwise’s knowledge of cryptocurrencies and Proficio’s 12 years of experience with precious metals and investments that resist currency problems. Proficio, founded in 2014, manages $5 billion in client assets for high-net-worth families, businesses, and foundations. In short, the company has spent more than a decade building and refining strategies that focus on protecting wealth from inflation and currency decline.
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. It also shows that crypto is moving into serious, long-term investment plans, not just short-term trading. For wealth managers, it provides crypto exposure with less risk than holding only Bitcoin.
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