Bitwise filed a prospectus on Sept. 16 for a stablecoin and tokenization exchange-traded fund (ETF) structured as a 40 Act fund, positioning for potential launch around Thanksgiving.
The proposed fund tracks the Bitwise Stablecoin and Tokenization Index through two equally weighted sleeves targeting companies and assets poised to benefit from stablecoin adoption and asset tokenization growth.
The equity sleeve allocates up to 50% in companies across five categories: stablecoin issuers, infrastructure providers, payment processors, tokenization exchanges, and stablecoin-oriented retailers.
Tiered restrictions
Companies face tiered weight restrictions based on business exposure levels. Tier 1 firms with substantial stablecoin business receive 15% caps, Tier 2 companies with material exposure get 8% limits, and Tier 3 entities with limited involvement face 3% restrictions.
The fund selects 20 companies from the top two tiers and, if necessary, adds up to 10 Tier 3 companies. The crypto as
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