Bitwise Files for Stablecoin and Tokenization ETF Targeting Thanksgiving Launch

Bitwise has taken a significant step toward launching a novel exchange-traded fund focused on stablecoins and asset tokenization. The firm filed a prospectus on September 16 for a 40 Act fund structured to track the Bitwise Stablecoin and Tokenization Index, with ambitions to go live around the Thanksgiving holiday.

The fund employs a dual-sleeve approach, equally divided between equities and crypto assets. Its equity component targets five key sectors: stablecoin issuers, infrastructure providers, payment processors, tokenization exchanges, and retailers embracing stablecoins. Weighting restrictions apply in three tiers based on companies' exposure levels, ranging from 15% caps for core players to 3% limits for peripheral participants.

On the digital asset side, the fund focuses on blockchain infrastructure products commanding at least 1% market share in stablecoins or tokenization. A 5% allocation targets oracle tokens that bridge blockchains with external systems, while maintaining a 22.5% cap on any single constituent. Quarterly rebalancing will maintain the fund's tech-centric orientation.