Bitwise is moving to bridge Wall Street and blockchain, filing for the first U.S. exchange-traded fund dedicated to stablecoins and tokenized assets amid record sector growth.
Summary
- Bitwise filed with the SEC on Sept. 16 for a stablecoin & tokenization ETF.
- The fund splits evenly between equities and crypto-linked products.
- Filing comes amid record growth in stablecoin and RWA sectors.
Bitwise Asset Management has filed with U.S. regulators to launch the first ETF focused on stablecoins and real-world asset tokenization, a move that demonstrates how traditional finance is converging with on-chain markets.
According to a Sept. 16 prospectus submitted to the Securities and Exchange Commission, the proposed Bitwise Stablecoin & Tokenization ETF would be structured as an actively managed “40 Act” fund under the Investment Company Act of 1940.
Bitwise, which oversees more than $15 billion in assets, said the vehicle will track its newly designed Stablecoin and Tokenization Index, providing diversified exposure to companies and crypto-linked products in these sectors.
Bitwise’s two-part ETF structure
The fund’s strategy divides holdings into two equally weighted categories. The first, an equity sleeve representing up to 50% of assets, will include 20 to 30 publicly traded companies involved in stablecoin issuance, payment infrastructure, tokenization exchanges, and related services.
Exposure will be capped by tiers, with the most involved companies limited to a 15% weighting to manage concentration risk.
The second half of the fund will consist of crypto-linked exchange-traded products, with a focus on blockchain infrastructure and up to 5% dedicated to oracle tokens that bring off-chain data on-chain. No single holding will exceed 22.5% of the index, and allocations will be rebalanced quarterly.
Bloomberg ETF analyst Eric Balchunas suggested the fund could launch as soon as late November, potentially around Thanksgiving, given the streamlined review process for 40 Act funds. Bitwise has not disclosed management fees but emphasized that the product is designed to bridge traditional finance with emerging crypto markets.
Riding stablecoin and tokenization sector growth
Bitwise’s filing comes as both stablecoins and tokenized assets experience record growth. Stablecoin supply now stands at around $290 billion, boosted by the passage of the GENIUS Act in July, which gave regulatory clarity to issuers.
Meanwhile, tokenized real-world assets have surged to roughly $30 billion in market value, indicating rising institutional and retail adoption. SEC Chair Paul Atkins has also spoken publicly in favor of tokenization as an “innovation,” signaling policy support under the Trump administration.
If approved, the new ETF would compete with offerings such as Nicholas Wealth’s Crypto Income ETF (BLOX), but it would be the first U.S. fund explicitly targeting stablecoins and tokenization.
For Bitwise, which already operates more than 20 crypto-focused ETFs, the product reflects an effort to stay ahead of institutional demand for regulated access to blockchain-based assets.