Bitwise Launches Bitcoin-Gold ETF as BTC Rebounds Toward $90K Amid Tariff Relief

New Investment Vehicle Combines Digital and Traditional Assets

Bitwise Asset Management has launched an exchange-traded fund that pairs Bitcoin with gold and mining equities, marking another evolution in how digital assets are being incorporated into mainstream investment strategies ^[1].

The Bitwise Proficio Currency Debasement ETF, trading under the ticker BPRO on the NYSE, represents an actively managed approach to addressing the declining purchasing power of fiat currencies ^[1]. Unlike spot Bitcoin ETFs, the fund allows for discretionary allocation across cryptocurrency and commodity-linked assets, with a mandatory minimum allocation of 25% in gold at all times and an expense ratio of 0.96% ^[1].

The product appears designed for wealth managers seeking Bitcoin exposure without committing entirely to single-asset crypto products, particularly amid ongoing inflation concerns ^[1]. Rather than focusing on upside potential, the fund is positioned around capital preservation, reflecting evolving narratives in institutional crypto markets ^[1].

Bob Haber, chief investment officer at Proficio Capital Partners, noted that despite gold's long-term performance, "gold remains a ghost in the modern portfolio," referencing Goldman Sachs research showing gold ETFs account for only a fraction of 1% of private financial holdings ^[1].

Bitcoin's Performance as Debasement Hedge Questioned

The launch comes amid debate over Bitcoin's effectiveness as a hedge against currency debasement. While Bitcoin has frequently been promoted as a long-term hedge given its fixed supply and strong historical performance, recent market action has raised questions about its current effectiveness in this role ^[1].

Karel Mercx of Dutch advisory firm Beleggers Belangen argued that Bitcoin has failed to deliver as a reliable hedge against currency debasement, pointing to Bitcoin's underperformance even when President Trump publicly undermined Federal Reserve independence ^[1]. Such political pressure on central banks typically raises concerns about monetary credibility and inflation risks—conditions that historically benefit store-of-value assets ^[1]. While gold responded to these signals, Bitcoin did not, weakening its case as a near-term debasement hedge ^[1].

Bitcoin Price Recovers on Tariff Postponement

Bitcoin markets showed signs of recovery as President Trump eased geopolitical tensions by postponing tariff threats and ruling out the use of force regarding Greenland ^[2]. Bitcoin edged up to trade at $89,955, with an intraday range between $87,304 and $90,295, as the broader crypto market capitalization reached $3.13 trillion ^[2].

Trump announced he had reached the "framework of a future deal" involving NATO over Greenland and indicated he would hold off on tariff threats ^[2]. "It's a long-term deal. It's the ultimate long-term deal. It puts everybody in an excellent position, especially as it pertains to security and to minerals," Trump told reporters ^[2].

Speaking at the World Economic Forum in Davos, Trump confirmed he would not impose the tariffs and ruled out using force in the dispute over the Danish territory ^[2]. "I won't do that," Trump said of an attack to secure Greenland, adding: "that's probably the most significant statement I made because people thought I would use force. I don't have to use force, I don't want to use force, I won't use force" ^[2].

Technical Outlook Remains Mixed

Bitcoin is currently consolidating near the $89,000–$90,000 region, holding above short-term support around $87,000–$88,000 following a sharp decline from November highs near $115,000 ^[2]. The cryptocurrency is trading around the 50-day Simple Moving Average near $90,200, but remains well below the 200-day SMA around $105,000, which continues to act as major resistance ^[2].

Bitcoin's Relative Strength Index sits around 45, below the neutral 50 mark, suggesting momentum remains weak though not oversold ^[2]. For Bitcoin to realistically target a sustained move back above $100,000, it would need a confirmed trend shift, potentially requiring a close above the $95,000 zone ^[2].