Bitwise Asset Management has submitted a filing with the U.S. Securities and Exchange Commission (SEC) to launch the "Stablecoin & Tokenization ETF," an exchange-traded fund designed to track an index equally split between companies involved in stablecoins and tokenization, and crypto assets linked to blockchain infrastructure. The proposed ETF, filed on September 16, 2025, will feature two equally weighted sleeves: an equity sleeve focusing on stablecoin issuers, infrastructure providers, payment processors, exchanges, and retailers; and a crypto asset sleeve providing exposure to regulated crypto exchange-traded products (ETPs) with ties to Bitcoin (BTC) and Ether (ETH), as well as blockchain oracles.
The equity sleeve uses a tier-based weighting system, capping direct exposure companies at 15%, meaningful indirect exposure at 8%, and others at 3%. The crypto sleeve includes assets representing at least 1% of the stablecoin or tokenized market share, with a 5% allocation for oracle tokens, and limits the largest holding to 22.5%. The index will rebalance quarterly. Bitwise, managing over $15 billion in digital assets, aims to launch the ETF by November 2025 if approved, leveraging the Investment Company Act of 1940 for smoother regulatory processing.
This move capitalizes on significant growth in stablecoins and tokenized real-world assets (RWAs), driven by regulatory developments like the U.S. GENIUS Act in July 2025, which provided a framework for stablecoins. The stablecoin market expanded from $205 billion to nearly $268 billion between January and early August 2025, reaching $289.7 billion by September, while RWAs surged to about $76 billion. The SEC's increased openness to tokenization innovation and upcoming Federal Reserve discussions on stablecoins underscore institutional and regulatory momentum, positioning Bitwise's ETF to tap into this transforming financial landscape.