Bitwise filed with the US Securities and Alternate Fee (SEC) to launch the “Stablecoin & Tokenization ETF,” an exchange-traded fund designed to trace an index break up between firms tied to stablecoins and tokenization.
In line with a Tuesday submitting, the proposed ETF will observe an index that includes firms from stablecoin issuers, infrastructure suppliers, fee processors, exchanges and retailers to regulated crypto exchange-traded merchandise (ETPs) with publicity to Bitcoin (BTC) and Ether (ETH).
The index, which can undergo quarterly rebalances, is break up into two equally weighted sleeves: an fairness sleeve and a crypto asset sleeve, every making up half of the fund.
The fairness sleeve will concentrate on firms most immediately tied to stablecoins and tokenization, whereas the crypto asset sleeve will present publicity to blockchain infrastructure that helps stablecoins and tokenization, together with blockchain oracles.
“To be eligible for inclusion within the Crypto Asset Sleeve of the Index, the Index Supplier should decide, in its sole discretion, that an asset is a Crypto Asset,” the prospectus reads. The biggest crypto ETP within the sleeve will likely be capped at 22.5%.
The fund will face competitors reminiscent of Nicholas Wealth’s Crypto Revenue ETF (BLOX), which additionally combines equities and crypto-linked publicity.
Bitwise is a US-based crypto asset supervisor based in 2017, at the moment managing over 20 US-listed crypto ETFs. Cointelegraph reached out to Bitwise for remark, however the firm stated it can not talk about lively filings.
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Stablecoins and tokenization as investable themes
Because the US handed the GENIUS Act in July, offering a regulatory framework for stablecoins, the sector has grow to be one of many high narratives in crypto.
Between January and early August, the stablecoin market expanded to nearly $268 billion from $205 billion, a 23% enhance over the interval. The entire market is $289.7 billion as of Tuesday, in accordance with DefiLlama.
Alongside stablecoins, tokenized real-world property (RWAs) — conventional devices like bonds or credit score issued and traded on blockchains — have additionally surged in 2025, reaching about $76 billion on Friday.
Just like the stablecoin growth, RWA development was boosted by a pointy coverage shift within the US after President Donald Trump’s inauguration in January. SEC Chair Paul Atkins stated in July that the company now views tokenization as an “innovation” to be supported.
The administration’s pro-crypto flip has additionally sparked a wave of ETF filings, starting from conventional Bitcoin (BTC) and Ether (ETH) funds to altcoin merchandise and blended methods reminiscent of Bitwise’s most up-to-date proposal.
The SEC has delayed a lot of the ETF proposals till October and November for remaining choices. If permitted, Bitwise’s new ETF will most likely launch in November, in accordance with Bloomberg analyst Eric Balchunas.
Journal: Can Robinhood or Kraken’s tokenized shares ever be actually decentralized?