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Bitwise Asset Management has launched a new exchange-traded fund designed to address concerns about long-term currency erosion amid rising debt and expansive monetary policy. The Bitwise Proficio Currency Debasement ETF now trades on the New York Stock Exchange under the ticker BPRO and combines digital assets with precious metals in an actively managed structure.
The fund aims to provide exposure to assets historically linked to preserving purchasing power as fiat currencies weaken while moving beyond the traditional stock-and-bond portfolio framework. The ETF was developed with Proficio Capital Partners, which manages about $5 billion and has focused on gold and hard assets for more than a decade.
Together the firms present BPRO as a strategic response to currency debasement rather than a conventional inflation-linked investment vehicle.
As global debt levels expand and monetary policy remains aggressive, investors continue to reassess portfolio protection strategies across asset classes.
BPRO blends exposure to Bitcoin with allocations to precious metals through an active management approach that allows shifts as market conditions change.
The managers say this structure supports flexibility as real inflation rates and monetary policy move quickly across economic cycles. Bitwise contributes crypto market expertise, while Proficio brings experience in specialised precious metals investing built over 12 years.
Matt Hougan, Chief Investment Officer at Bitwise, said investors have long relied on stocks and bonds but that approach faces pressure during rapid monetary expansion.
Hougan said the fund combines gold scarcity with digital scarcity from Bitcoin to address the persistent decline in fiat currency purchasing power. The strategy positions bitcoin and gold as complementary stores of value rather than competing assets within a single portfolio framework.
Over the past two decades the U.S. dollar has lost about 40 percent of its purchasing power while national debt rose from $7.5 trillion to $38 trillion.
In a Bitwise and VettaFi survey, financial advisors ranked fiat debasement among the most important investment themes to watch in 2026. The survey showed 22 percent of advisors identified currency debasement as a critical focus area for portfolio planning.
Bob Haber, Chief Investment Officer at Proficio, said gold remains under-owned despite strong historical performance and long-standing use as a store of value. Gold ETFs represent just 0.17 percent of private financial holdings, according to Goldman Sachs data cited by Proficio.
Haber described currency debasement as an active tax on savings and said BPRO adapts allocations between metals and digital assets to respond to changing conditions. With investors reassessing traditional diversification models, the fund enters the market with one central question: Can a blended hard asset strategy better protect purchasing power in a shifting monetary landscape?
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Bitwise has launched the BPRO ETF on the New York Stock Exchange to address currency debasement risks. The fund actively blends bitcoin and gold with precious metals. It targets investors seeking purchasing power protection as debt grows and monetary policy remains aggressive.
