Bitwise’s proposed Stablecoin & Tokenization ETF is an exchange-traded fund that would split exposure equally between an equity sleeve of companies tied to stablecoins and tokenization and a crypto asset sleeve of tokenized ETPs and blockchain infrastructure, targeting a likely November launch if approved.
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ETF structure: two equal sleeves — equities and crypto assets — rebalanced quarterly.
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Index includes stablecoin issuers, payment processors, exchanges, oracles and regulated crypto ETPs.
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Stablecoin market rose to about $289.7B in 2025; tokenized RWAs reached roughly $76B this year (DefiLlama).
Bitwise Stablecoin & Tokenization ETF proposed to track stablecoin and tokenization firms; read fund structure, timeline, and market context — learn more.
Bitwise filed to launch the Stablecoin & Tokenization ETF, a fund splitting exposure between companies tied to stablecoins and tokenized assets and regulated crypto ETPs as U.S. rules accelerate on-chain asset adoption.
Bitwise Asset Management filed with the U.S. Securities and Exchange Commission to introduce the Stablecoin & Tokenization ETF, an exchange-traded fund designed to track an index split evenly between equities linked to stablecoins/tokenization and a sleeve of crypto assets and regulated ETPs.
What is the structure of the Bitwise Stablecoin & Tokenization ETF?
The fund tracks an index divided into two equally weighted sleeves: an equity sleeve focused on companies directly tied to stablecoins and tokenization, and a crypto asset sleeve providing regulated on-chain exposure. Quarterly rebalances maintain the split and a 22.5% cap limits concentration in any single crypto ETP.
How will the Crypto Asset Sleeve be selected?
The prospectus states the index provider will determine which assets qualify as Crypto Assets at its discretion. Eligible assets include regulated crypto exchange-traded products with exposure to major crypto like Bitcoin and Ether, plus blockchain infrastructure elements such as oracles.
The equity sleeve targets firms across stablecoin issuance, infrastructure, payment processing and retail exposure to tokenization. The dual-sleeve design aims to balance direct corporate exposure with liquid, regulated on-chain instruments.
Stablecoins Market Capitalization on Tuesday. Source: DefiLlama
Why is this ETF launching now?
Regulatory shifts in the U.S., including the GENIUS Act’s framework for stablecoins and public statements portraying tokenization as an innovation, have accelerated market interest. That policy backdrop, plus rising stablecoin and tokenized RWA market caps, makes the timing attractive for a dedicated product.
Between January and early August 2025, the stablecoin market grew from $205B to almost $268B, reaching roughly $289.7B as of the most recent DefiLlama data. Tokenized real-world assets have also expanded to around $76B in 2025, reflecting institutional and retail interest in on-chain financialization.
When could the ETF launch if approved?
Regulatory reviews have pushed many ETF decisions into October and November. Bloomberg analyst Eric Balchunas indicated a likely November launch if the SEC approves Bitwise’s filing.
Frequently Asked Questions
Who manages the proposed fund?
Bitwise Asset Management, a U.S.-based crypto asset manager founded in 2017 that currently manages multiple U.S.-listed crypto ETFs, is the filer and proposed manager of the Stablecoin & Tokenization ETF.
Will this ETF hold unregulated cryptocurrencies directly?
No. The Crypto Asset Sleeve is intended to hold regulated crypto exchange-traded products and other Crypto Assets the index provider deems eligible; the prospectus emphasizes regulated on-chain exposure rather than direct custody of unregistered tokens.
Key Takeaways
- ETF design: Two equal sleeves — equities and crypto assets — with quarterly rebalances and a 22.5% cap on the largest crypto ETP.
- Market context: Stablecoins near $290B and tokenized RWAs at ~$76B in 2025 (DefiLlama), driven by favorable U.S. policy.
- Next steps: SEC reviews expected into October–November; approval would likely lead to a November market debut per industry analysts.
Conclusion
The Bitwise Stablecoin & Tokenization ETF packages two complementary exposures to capture on-chain monetary infrastructure and the corporate ecosystem enabling tokenized assets. With regulatory momentum and rising stablecoin and RWA capitalizations, the fund represents a strategic play on tokenization becoming investable. Monitor SEC decisions through October and November for definitive timing and final fund terms.
Sources: DefiLlama, Bloomberg analyst commentary, SEC filing text, statements by SEC leadership and industry filings. Mentioned publications are cited as plain text only.
