Bitwise’s Latest Filing Signals Next Phase of Crypto ETFs

The crypto ETF race is evolving from single-asset funds to thematic strategies focused on blockchain’s utility. Bitwise’s proposal for a Stablecoin & Tokenization ETF represents this second wave, targeting the foundational technologies enabling blockchain’s integration with traditional finance.

The fund’s structure, noted by Bloomberg’s Eric Balchunas as a ’40 Act fund, implies a blend of traditional equities and crypto, a complex approach that reflects the hybrid nature of the trend it seeks to track.

This strategic move aligns with industry initiatives from Coinbase and Kraken to tokenize traditional equities. Bitwise’s filing effectively creates a tradable instrument for betting on the success of that convergence, positioning itself at the intersection of crypto and legacy finance.