Bitwise Files For Stablecoin and Tokenization ETF Targeting Thanksgiving Launch

The fund selects 20 companies from the top two tiers and, if necessary, adds up to 10 Tier 3 companies. The crypto asset sleeve invests in exchange-traded products that provide blockchain infrastructure exposure. The assets must represent at least 1% market share in stablecoins or tokenization. The fund reserves 5% for oracle tokens that connect blockchains to external systems, with the largest constituent capped at 22.5% of the index. The fund rebalances quarterly and concentrates primarily in information technology companies.

The preliminary filing does not disclose management fees. As of Sept. 16, Bitwise operated $15 billion in crypto assets across 30 investment products, including spot Bitcoin and Ethereum ETFs. Bloomberg senior ETF analyst Eric Balchunas noted that the prospectus filing used the Investment Company Act of 1940. The 40 Act filings typically face shorter regulatory review periods, potentially allowing launches within months rather than years, which is why Balchunas’ prediction regarding a short approval window is plausible.

The structure mirrors filings from REX-Osprey, such as their Dogecoin and XRP ETFs set to launch this week, along with products tied to TRUMP, BONK, and Bitcoin.  The filing reflects companies trying to capture the growing institutional interest in the tokenization of real-world assets. This includes stablecoins, which recently reached $287 billion in supply.