You Won’t Believe What Bitwise Just Filed with the SEC – Crypto Drama Ensues! 🚀

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Hold onto your hats, crypto enthusiasts! Bitwise has just sashayed into the US Securities and Exchange Commission (SEC) offices, filing to launch the “Stablecoin & Tokenization ETF.” Yes, you heard that right – an exchange-traded fund that splits its love equally between companies obsessed with stablecoins and tokenization. Because apparently, two’s company and blockchain’s a party. 🎉

According to a thrilling Tuesday filing (because what’s more riveting than ETF paperwork?), this baby will track an index full of everything from stablecoin issuers to payment processors, exchanges, retailers, and even those fancy regulated crypto exchange-traded products (ETPs) dabbling in Bitcoin (BTC) and Ether (ETH). Basically, if it’s got a crypto connection, it’s invited.

The index will do a quarterly wardrobe change – rebalance, to be fancy – splitting itself neatly into two roommates who pay equal rent: the equity sleeve and the crypto asset sleeve. Each covers half the fund because sharing is caring.

The equity sleeve is basically the “business casual” of the bunch, focusing on companies with a one-track mind for stablecoins and tokenization. Meanwhile, the crypto asset sleeve is the tech geek, all about blockchain infrastructure and those mystical blockchain oracles that sound like something from Harry Potter’s universe. 🧙‍♂️

Now for the fine print that sounds like it was written in a secret vault: “To be eligible for inclusion in the Crypto Asset Sleeve of the Index, the Index Provider must determine, in its sole discretion, that an asset is a Crypto Asset.” Translation? If it looks crypto-ish enough, and they like it, it’s in.
And because no crypto party wants one diva hogging the spotlight, the biggest crypto ETP in this sleeve gets capped at 22.5%. Sharing is, once again, caring.

Of course, Bitwise won’t be the only kid on the block. There’s Nicholas Wealth’s Crypto Income ETF (BLOX) ready to mix equities and crypto like the peanut butter and jelly of financial instruments.

For a quick origin story: Bitwise, born in 2017, is a US-based crypto asset manager running over 20 US-listed crypto ETFs. We tried to get the juicy deets from them but, alas, they clammed up tighter than a cold wallet, saying they “cannot discuss active filings.” Spoilsports.

Stablecoins and tokenization: The new “it” kids on the crypto block

Ever since the all-knowing US government passed the GENIUS Act in July – yes, that’s the real name, no joke – and gave stablecoins a nice, neat regulatory playground, everyone suddenly started acting like stablecoins and tokenization are the hottest thing since sliced bread.

The stablecoin market grew from $205 billion in January to a hefty $268 billion by early August. That’s a 23% glow-up, if you ask me. And no stopping: it reached $289.7 billion by Tuesday, according to DefiLlama – because apparently crypto has its own otters now.

Meanwhile, tokenized real-world assets (RWAs) – which is just fancy talk for old-school bonds and credit getting a blockchain makeover – have also been sprinting ahead in 2025, hitting about $76 billion last Friday. It’s like Wall Street finally decided to wear blockchain-themed socks. 🧦

And there’s a political twist. After President Donald Trump’s inauguration in January (cue dramatic music), SEC Chair Paul Atkins waved a dramatic flag in July, calling tokenization an “innovation” worth hugging. Who knew regulatory love could look like that?

This pro-crypto moonwalk has stirred up a frenzy of ETF filings – everything from vanilla Bitcoin and Ether funds to spiced-up altcoin cocktails and adventurous mixed strategies like Bitwise’s latest brainchild.

The SEC, naturally, is taking its sweet time, pushing decisions back to October and November because suspense sells. If Bitwise’s ETF gets the golden stamp, expect it to launch in November – Bloomberg’s Eric Balchunas sounds optimistic, so fingers crossed and check your popcorn supply. 🍿

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2025-09-17 01:51