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Bitwise Files for ETF Focused on Stablecoins and Blockchain
Key Takeaways
- Bitwise has filed to launch a new ETF that combines companies and crypto products linked to stablecoins and tokenization;
- The ETF will split investments between traditional equities and regulated crypto asset products like Bitcoin and Ethereum ETPs;
- To maintain balance, the fund’s index will be rebalanced quarterly, and no single crypto product can exceed 22.5% of the crypto asset share.
Bitwise, a digital asset manager based in the United States, has submitted a request to the US Securities and Exchange Commission (SEC) to create a new exchange-traded fund (ETF).
This fund, named the "Stablecoin & Tokenization ETF", is designed to reflect the performance of an index that includes traditional companies and cryptocurrency-related products involved in stablecoins and tokenization.
The ETF will rely on a two-part structure, with half of its holdings made up of stocks and the other half focused on crypto asset products. The equity side will include firms involved in various parts of the stablecoin and tokenization sectors.
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These may include payment firms, infrastructure providers, trading platforms, and companies that issue or support stablecoins.
The crypto asset portion will focus on regulated products that track digital currencies and related technology. These products may provide indirect access to cryptocurrencies such as Bitcoin
To maintain a balanced fund, the index will be reviewed and adjusted quarterly. No single crypto-linked product in the fund can take up more than 22.5% of the digital asset section.
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