Bitwise has submitted a filing with the US Securities and Exchange Commission (SEC) to establish the “Stablecoin & Tokenization ETF,” an exchange-traded fund aimed at tracking an index composed of companies involved with stablecoins and tokenization.
According to a filing made on Tuesday with the SEC, the proposed ETF will monitor an index that includes companies such as stablecoin issuers, infrastructure providers, payment processors, exchanges, and retailers, as well as regulated crypto exchange-traded products (ETPs) that offer exposure to Bitcoin (BTC) and Ether (ETH).
The index will be rebalanced quarterly and is divided into two equally weighted components: an equity section and a crypto asset section, each representing half of the fund.
The equity section will target companies most closely linked to stablecoins and tokenization, while the crypto asset section will grant exposure to blockchain infrastructure that underpins stablecoins and tokenization, including blockchain oracles.
“To qualify for the Crypto Asset Sleeve of the Index, the Index Provider must decide, at its sole discretion, that an asset meets the criteria of a Crypto Asset,” the prospectus specifies. The largest crypto ETP in the sleeve will have a limit of 22.5%.
The fund will compete with offerings like Nicholas Wealth’s Crypto Income ETF (BLOX), which also merges equities with crypto-related exposure.
Bitwise, a US-based crypto asset management firm established in 2017, oversees more than 20 US-listed crypto ETFs. Cointelegraph attempted to contact Bitwise for comments, but the company indicated it cannot disclose information about active filings.
Related: Bitcoin projected to reach $1.3M by 2035 as institutional demand increases: Bitwise
Investing in stablecoins and tokenization
Since the US enacted the GENIUS Act in July, establishing a regulatory framework for stablecoins, this sector has emerged as a significant narrative in the crypto space.
From January to early August, the stablecoin market grew from approximately $205 billion to nearly $268 billion, marking a 23% increase. As of Tuesday, the total market stood at $289.7 billion, according to DefiLlama.
In conjunction with stablecoins, tokenized real-world assets (RWAs)—such as traditional instruments like bonds or credits issued and traded on blockchains—have also demonstrated significant growth in 2025, reaching approximately $76 billion by Friday.
Similar to the stablecoin surge, the expansion of RWAs has been fueled by a marked policy shift in the US following President Donald Trump’s inauguration in January. SEC Chair Paul Atkins remarked in July that the agency now perceives tokenization as an “innovation” worthy of support.
The administration’s favorable stance towards crypto has also led to a surge in ETF filings, encompassing everything from traditional Bitcoin (BTC) and Ether (ETH) funds to altcoin products and mixed strategies like Bitwise’s latest proposal.
The SEC has postponed decisions on most ETF proposals until October and November. If approved, Bitwise’s new ETF could potentially launch in November, according to Bloomberg analyst Eric Balchunas.
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