Bitwise files for Stablecoin & Tokenization ETF with the SEC of the United States

Bitwise has officially submitted an application to the Securities and Exchange Commission of the United States (SEC) to launch an exchange-traded fund (ETF) named "Stablecoin & Tokenization ETF." This fund is designed to follow an index that divides between companies related to stablecoin and tokenization (token hóa).

According to the report published on Tuesday, the ETF is expected to follow an index that includes companies from stablecoin issuers, infrastructure providers, payment processors, exchanges, and retailers, to managed exchange-traded products related to Bitcoin and Ether (ETPs).

This index will undergo quarterly rebalancing and is divided into two equally weighted parts: one part in stocks and one part in cryptocurrency, each accounting for 50% of the total fund value.

The equity portion will focus on companies that have the most direct links to stablecoins and tokenization, while the cryptocurrency assets portion will expand exposure to the blockchain infrastructure supporting stablecoins and tokenization, including blockchain Oracles.

"The application states that, to qualify for inclusion in the Index's Cryptocurrency Asset List, the Index Provider must determine, at its own discretion, that an asset is a Cryptocurrency Asset," the application states. The largest cryptocurrency ETP in this category will be capped at 22.5%.

This fund will face competition from products like Nicholas Wealth's Crypto Income ETF (BLOX), which also combines stocks and cryptocurrency-related exposure.

Bitwise is a cryptocurrency asset management company based in the United States, founded in 2017, currently managing over 20 cryptocurrency ETFs listed in the United States.

Stablecoin and tokenization are investment topics.

Since the United States passed the GENIUS Act in July, providing a regulatory framework for stablecoin, this sector has become one of the most prominent stories in the cryptocurrency world.

Between mid-January and early August, the stablecoin market expanded from 205 billion USD to nearly 268 billion USD, equivalent to a 23% increase. The total market value currently stands at 289.7 billion USD as of Tuesday, according to data from DefiLlama.

In addition to stablecoin, tokenized real-world assets (RWAs) — traditional instruments such as bonds or credit issued and traded on the blockchain — have also seen a boom in 2025, reaching approximately 76 billion USD on Friday.

Similar to the boom of stablecoins, the development of RWAs has been driven by a strong policy shift in the United States following President Donald Trump's inauguration in January. SEC Chairman Paul Atkins announced in July that the agency now views tokenization as an "initiative" that needs to be supported.

The government's shift towards supporting cryptocurrency has also sparked a wave of ETF filings, ranging from traditional Bitcoin and Ether funds to altcoin products and mixed strategies like Bitwise's most recent proposal.

The SEC has decided to delay most ETF proposals until October and November to make a final decision. If approved, Bitwise's new ETF fund is likely to launch in November, according to Bloomberg analyst Eric Balchunas.

Mr. Giáo