Key Takeaways
- • Bitwise and Proficio Capital Partners, a division of a Florida-based multi-family office, launched the Bitwise Proficio Currency Debasement ETF (BPRO.P) on Thursday, January 22, 2026, according to Reuters.
- • The fund will hold a minimum of 25% of its assets in gold, which has reached record highs this year, with the balance spread across bitcoin, silver, platinum, palladium, and mining companies that produce these metals.
- • Proficio co-founder and chief investment officer Bob Haber positions the fund as exposure to a distinct asset class of "hard currencies" not tied to any single government's monetary or fiscal policy.
- • Haber describes the approach as a long-term secular shift, arguing investors should seek alternatives when government bonds and dollar-, euro-denominated assets offer inadequate compensation for risk.
Summary
Bitwise, a digital assets investment firm, and Proficio Capital Partners, a division of a Florida-based multi-family office, have rolled out an exchange-traded fund designed to invest in alternatives to the U.S. dollar and other government currencies, according to Reuters. The Bitwise Proficio Currency Debasement ETF (BPRO.P) launched on Thursday against a backdrop of rising geopolitical tensions and elevated government debt loads in many countries.
The fund will offer a blend of assets not tied to any individual currency or set of national monetary and fiscal policies. It will hold at least 25% of its assets in gold, which has climbed to record highs this year. Additional exposure includes bitcoin, silver, platinum, and palladium, as well as the mining companies that produce these and other metals.
The fund's backers say the strategy is not simply a momentum trade in gold. Bob Haber, chief investment officer and a founder of Proficio, said investors should view these assets as representing their own asset class, distinct from stocks or bonds denominated in dollars, euros, or other government-issued currencies. He argued that when investors are not being adequately compensated for the risk of holding government bonds or currency-denominated assets, it makes sense to seek alternatives.
Haber acknowledged that gold and silver prices could pause their rally, but said he expects a growing number of investors to show interest in what he calls "hard currencies." He characterized the trend as "a long-term secular shift in the market."
The fund will offer a blend of assets not tied to any individual currency or set of national monetary and fiscal policies. It will hold at least 25% of its assets in gold, which has climbed to record highs this year. Additional exposure includes bitcoin, silver, platinum, and palladium, as well as the mining companies that produce these and other metals.
The fund's backers say the strategy is not simply a momentum trade in gold. Bob Haber, chief investment officer and a founder of Proficio, said investors should view these assets as representing their own asset class, distinct from stocks or bonds denominated in dollars, euros, or other government-issued currencies. He argued that when investors are not being adequately compensated for the risk of holding government bonds or currency-denominated assets, it makes sense to seek alternatives.
Haber acknowledged that gold and silver prices could pause their rally, but said he expects a growing number of investors to show interest in what he calls "hard currencies." He characterized the trend as "a long-term secular shift in the market."
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