Bitwise Decides Wall Street Needs a Stablecoin & Token ETF, And Who Can Blame Them?

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Bitwise Asset Management, not content with just watching the crypto rollercoaster from the sidelines, has decided to file paperwork with the Securities and Exchange Commission (SEC) for a shiny new fund. This one’s a mix of stocks and crypto assets that are, you guessed it, tied to stablecoins and tokenization. Because who wouldn’t want to invest in things that sound as complicated as they are profitable?

If all goes according to plan, this could be one of the first US products ever to track both the stock market and crypto assets under the same roof. It’s like if a cat and a dog finally decided to share a bed, and somehow, it works.

Two Sleeves, Equal Weight (Because Why Not?)

The filing (which sounds suspiciously like it was written in a caffeine-induced frenzy) describes a product divided into two equal halves. The first half will hold shares of publicly traded companies that have dipped their toes into the ever-complicated worlds of stablecoins and tokenization. These include issuers, payment firms, or exchanges-basically the cool kids of the financial world.

The other half will dive into digital assets through exchange-traded products that cover everything from Bitcoin and Ethereum to oracles (yes, oracles, because apparently regular fortune-telling just doesn’t cut it anymore) and blockchain infrastructure. Sounds like a party you’d want an invite to, doesn’t it?

To keep things from getting too wild, there are limits. No single crypto holding can account for more than 22.5% of that sleeve. On the equity side, companies are sorted into tiers based on their connection to stablecoins or tokenization. Each tier has its own cap to avoid letting one firm dominate the entire show. Because, you know, chaos is fun until it’s your money on the line.

Regulatory Shift: A New Hope

This entire affair comes on the heels of the GENIUS Act, passed in July 2025, which finally gave stablecoin rules a bit of clarity. It’s being hailed as the legislation that opened the floodgates for funds like Bitwise’s, which could be hitting the market as soon as November 2025. The whole thing is looking like a Thanksgiving dinner, but instead of turkey, we’ve got ETFs.

Bitwise has filed for a Stablecoin & Tokenization ETF, a sleeve of equities and crypto assets benefiting from these two trends. 40 Act, so probably launching around Thanksgiving.

– Eric Balchunas (@EricBalchunas) September 16, 2025

Analysts (and probably some well-meaning algorithm) have noted that this timing is anything but accidental. Stablecoin circulation has shot up into the hundreds of billions of dollars this year, while tokenized real-world assets are creeping into the tens of billions. It’s like everyone decided to go on a crypto shopping spree at the same time.

Bitwise seems to think that demand for a regulated gateway to both these trends is just too big to ignore. Which, considering the amount of zeros involved, isn’t entirely crazy.

Balancing Risk and Demand (Because That’s What Wall Street Does)

The ETF will be registered under the Investment Company Act of 1940, the same law that covers most mutual funds. Rebalancing will happen four times a year, so the fund can adjust when prices go haywire or when some new crypto genius enters the scene. A great way to keep things fresh-or at least not entirely catastrophic.

But this filing is more than just about Bitwise wanting to join the ETF party. It’s a signal that stablecoins and tokenization are no longer niche hobbies for crypto enthusiasts. They’re being handed VIP tickets to Wall Street, where they’ll rub elbows with traditional equities and regulated crypto assets. The crossover is complete, folks.

So, whether regulators approve or not, this filing is a clear sign that digital assets are fast becoming part of the mainstream financial landscape. And if you’re not paying attention, well, good luck pretending you didn’t hear about it later.

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2025-09-17 22:53