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BPRO

GradeCNew York Stock Exchange Arca

Bitwise Proficio Currency Debasement ETF

Multi-Asset & Alternatives · Bitwise · Inception 2026-01-21 · SEC filings

$21.14−0.35 (−1.63%)

As of Sep 23, 2026, 3:07 PM EDT

History starts Jan 22, 2026.History starts Jan 22, 2026.
Intraday session: down, 6 prints from 21.49 to 21.14. Range 21.01 to 21.49. Use the arrow keys to read each point.$21.00$21.20$21.4010 AM12 PM2 PM4 PM
Expense ratio
0.96%
Fund size
$105M
1Y return
—
Yield · Last 12 months
—
Holdings
17
Volume · 30D
0M sh
NAV per share
$21.33
52W range
low $18.13high $30.29

The ETF.net BPRO Grade

C

44/ 100

Rank 18 of 30 in Alternative Strategies⁠

Confidence Low

Six-pillar profile for BPRO. Scores out of 100: Cost 67, Risk 9, Mission not scored, Tradability 33, Holdings not scored, Durability 53. Strongest: Cost (67). Weakest: Risk (9). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 44 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 67
    Category rank9/30 · top 30%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 9
    Category rank29/30 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 33
    Category rank20/30 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 53
    Category rank17/30 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on BPRO

ETF.net Research

CMost alternatives funds sell you a technique. BPRO sells a thesis: currencies lose purchasing power, so own the assets built to benefit. A 2026 Bitwise launch, priced below the typical fund in the alternatives aisle.

Stated mandate

The Fund seeks capital appreciation by investing in assets that may benefit from currency debasement.

Why people hold it

  1. 01One idea, plainly stated: the fund seeks capital appreciation from assets that may benefit from currency debasement. No black-box factor stack to decode.bitwiseinvestments.com
  2. 02A 0.96% expense ratio undercuts the median for its alternatives cohort, a corner of the market where active macro mandates routinely charge more.
  3. 03Ordinary 1940 Act fund structure, not a commodity trust or partnership wrapper, so it behaves like the rest of the ETFs in a normal brokerage account.

Worth knowing

  1. 01It launched in 2026, so the track record is thin and the risk read leans on a single year. Longer-running peers like QALT and CCEF stand higher in the group.
  2. 02Trading is light next to the bigger alternatives funds, so spreads can widen. Limit orders are the practical tool here.
  3. 03The mandate is capital appreciation, and the fund has not been an income payer, so any return has to come from price.

BPRO Holdings

As of Sep 20, 2026, 9:29 AM
Asset class
Stocks
Holdings
17
Top-10 weight
86%
Largest holding
GOLD21.1%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001GOLDAMUNDI PHY 0 NTS PERP USD10000021.09%128,349$22M79
002—WISDOMTREE PHYSICAL GOLD17.78%46,230$19M1
003RINGISHARES IN MSCI GLOBAL GOLD MINERS9.93%124,061$10M2
004BILSPDR SERIE ST SPDR BBG 1-3 MONTH T-9.13%104,688$10M19
005—WISDOMTREE PHYSICAL SILVER5.86%102,005$6M1
006—ISHARES PH ISHS PHYS GOLD ETC USD(G4.67%57,998$5M1
007—XTRACKERS PHYSICAL GOLD ETC USD4.67%73,156$5M1
008SILGLOBAL X F GLOBAL X SILVER MINERS E4.49%49,533$5M4
009SILJAMPLIFY ET JUNIOR SILVER MINERS ETF4.28%148,743$4M4
010—DB ETC PLC XTRACKERS PHYS GOLD ETC4.27%10,752$4M1
011GDXJVANECK ETF VANECK JUNIOR GOLD MINER3.98%33,620$4M5
012—ISHARES PH ISHS PHYSICAL SILVER ETC3.96%65,882$4M1
013CBTC21SHARES A BITCOIN ETP 20222.48%135,747$3M1
014BITCCOINSHARE 0 ETC PERP BITCOIN USD2.37%31,937$2M1
015—BITWISE EU ETC GROUP CORE BITCOIN E1.05%137,085$1M1

Showing 1–15 of 16 holdings

BPRO Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BPRO$10,810
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. BPRO $10,810. SPY $10,415. Use the arrow keys to read each point.$8,998$10,319$11,641Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BPRO. Periods over one year show the average yearly return.
PeriodBPRO
Year to dateFund launched this year—
1 month−4.5%
3 months+8.1%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BPRO
YearReturn barBPRO
2026 YTD−14.9%

History from Jan 22, 2026

BPRO in the news

ETF.net Research hasn’t filed on BPRO yet — coverage lands here as it’s written.

BPRO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

BPRO Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Jan 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.52
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BPRO Cost

Expense ratio0.96%
  • The middle half of Alternative Strategies funds
  • Median 1.00%

11 of the 29 Alternative Strategies funds charge less.

BPRO costs $96.00 a year on $10,000. The median Alternative Strategies fund costs $100.00.