The Bitwise Tron Strategy ETF is a pending crypto strategy fund filed with the SEC in December 2025 as part of Bitwise's expansion beyond Bitcoin and Ethereum. This fund seeks exposure to Tron (TRX), a blockchain protocol known for its high transaction throughput and growing ecosystem. Bitwise filed applications for 11 strategy ETFs simultaneously, targeting diverse crypto assets including DeFi protocols, layer-1 platforms, and privacy coins.

The ETF employs a hybrid strategy structure, investing up to 60% of its assets directly in TRX tokens, with the remainder allocated to exchange-traded products and potentially derivatives that provide TRX exposure. This approach allows the fund to maintain substantial direct exposure while utilizing other instruments to optimize risk management and liquidity. The strategy model differs from pure spot ETFs by offering flexibility in how exposure is achieved.

Pending SEC approval, the fund would provide regulated access to Tron through traditional brokerage accounts without requiring investors to manage crypto wallets or custody. The filing reflects growing institutional interest in alternative layer-1 blockchains and represents Bitwise's aggressive push to offer diversified crypto investment products following the success of spot Bitcoin, Ethereum, Solana, XRP, and Dogecoin ETFs.