Quick Breakdown
- Bitwise filed with the SEC to launch a Stablecoin & Tokenization ETF, equally weighted between equities and crypto ETPs.
- The filing follows strong growth in stablecoins ($289.7B) and tokenized RWAs ($76B) in 2025.
- SEC decisions on ETF approvals are expected in October and November, with a potential launch in November.
Bitwise targets stablecoin and tokenization growth
Crypto asset manager Bitwise has lodged a filing with the U.S. Securities and Exchange Commission (SEC) to launch the Stablecoin & Tokenization ETF, an exchange-traded fund designed to capitalize on two of the fastest-growing trends in digital assets.
The proposed fund will track a custom index that splits exposure equally between equities and crypto-linked products. On one side, the equity sleeve focuses on companies most directly tied to stablecoins and tokenization, including issuers, infrastructure providers, payment processors, exchanges, and retailers.
The other half, the crypto asset sleeve, offers exposure to regulated exchange-traded products (ETPs) with Bitcoin (BTC) and Ether (ETH), alongside blockchain infrastructure powering tokenization and stablecoins. The index will undergo quarterly rebalancing, with a 22.5% cap placed on the largest crypto ETP to maintain diversification.
Competition in the crypto ETF arena
If approved, the Bitwise ETF will compete with products like Nicholas Wealth’s Crypto Income ETF (BLOX), which also mixes equities with digital asset exposure. Bitwise, founded in 2017, already manages more than 20 U.S.-listed crypto ETFs, positioning itself as a leading player in the sector. The SEC is expected to decide on the filing by November, with Bitwise likely to launch the fund soon after approval.
Policy shifts fuel stablecoin and tokenization demand
The proposal comes amid rapid sector growth following the GENIUS Act, signed into law in July, which introduced a clear regulatory framework for stablecoins. This regulatory clarity has helped expand the stablecoin market from $205 billion in January to nearly $290 billion today, according to DefiLlama.
At the same time, tokenized real-world assets (RWAs) have surged to around $76 billion, supported by a pro-crypto stance from the U.S. administration and SEC Chair Paul Atkins, who described tokenization as an “innovation” in July.
This combination of regulatory support and market growth has spurred a wave of ETF applications, ranging from spot Bitcoin and Ether products to diversified strategies like Bitwise’s latest filing.
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