“The exchange-traded funds will invest both directly and indirectly in the tokens.”, — write: www.coindesk.com
The Tuesday N-1A filing details an approach that includes investing up to 60% of a fund’s assets directly in the underlying token, with the remainder allocated to exchange-traded products and, potentially, derivatives such as futures and swaps.
The SEC filing was made the same day Grayscale submitted a filing to convert its bittensor trust to an exchange-traded product. Barry Silbert, chairman of Grayscale, said in a post on X that the move reflects how quickly decentralized AI is evolving as one of the newest investable themes in US crypto markets.
Bittensor operates as an open network that uses crypto-economic incentives to coordinate machine learning development, rewarding contributors of models and computing power with TAO. The project has drawn growing attention as investors seek exposure to AI-related crypto assets beyond traditional smart contract platforms.
Bitwise’s applications underscore how quickly issuers are expanding beyond bitcoin and ether following the success of spot ETFs tied to the two largest cryptocurrencies. The firm has previously introduced spot ETFs linked to bitcoin, ether, solana and XRP, and has filed additional applications tied to assets such as sui and hyperliquid.
The other tokens mentioned in the filing are HYPE$25.76, NEAR$1.5172, TRX$0.2839athena (ENA), STRK$0.07816canton coin (CC).
KuCoin captured a record share of centralized exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the broader crypto market.
- KuCoin recorded over $1.25 trillion in total trading volume in 2025equivalent to an average of roughly $114 billion per monthmarking its strongest year on record.
- This performance translated into an all-time high share of centralized exchange volumeas KuCoin’s activity expanded faster than aggregate CEX volumeswhich slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly spliteach exceeding $500 billion for the year, signaling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activityreinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activityindicating structurally higher user engagement rather than short-lived volume spikes.
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Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.
- Approximately $250 million was withdrawn from Lighter after its $675 million LIT token airdrop.
- The withdrawals represent about 20% of Lighter’s total value locked, according to Bubblemaps CEO Nicolas Vaiman.
- Large withdrawals post-token generation events are common as early participants exit, says CertiK’s Natalie Newson.
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