A stablecoin tokenization ETF filing by Bitwise Asset Management with the SEC on September 16 represents, right now, the first U.S. exchange-traded fund specifically targeting stablecoins and also real-world asset tokenization. The proposed fund would track a 50-50 split between equity holdings and crypto assets, providing regulated exposure to these rapidly growing sectors through an Investment Company Act of 1940 structure.
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How Bitwise Stablecoin And Regulated Crypto ETFs Gain SEC Approval Insights
Dual-Structure Design Targets Growing Markets
The Bitwise stablecoin fund will include 20 to 30 publicly traded companies involved in stablecoin issuance, payment processors, and tokenization exchanges. The stablecoin tokenization ETF structure caps exposure at 15% for individual companies to manage risk, while the crypto sleeve focuses on blockchain infrastructure and also oracle tokens.
At the time of writing, analyst Eric Balchunas noted that the SEC is currently delaying most crypto ETF applications until October and November, setting up a busy period for potential launches. This timing could work in favor of Bitwise’s application, as regulators have been showing more openness to regulated crypto ETFs under the 40 Act framework.
Bitwise w a new filing for a Stablecoin & Tokenization ETF which will have sleeve of equities and crypto assets seen benefiting from those two trends. 40 Act so prob launch around Thanksgiving pic.twitter.com/TkTLE91H9H
— Eric Balchunas (@EricBalchunas) September 16, 2025
Regulatory Timeline and Market Competition
The Bitwise ETF faces a competitive environment with products like Nicholas Wealth’s Crypto Income ETF (BLOX). However, this stablecoin tokenization ETF would be the first U.S. fund explicitly targeting both sectors. Bitwise has designed the fund to bridge Wall Street and blockchain technology, and it could launch by late November if approval processes move forward smoothly.
Bitwise already manages over 20 crypto ETFs and more than $15 billion in assets, which positions it as a leading player seeking Bitwise SEC approval. The quarterly rebalancing approach caps individual crypto ETPs at 22.5% of the sleeve to maintain proper diversification.
Record Sector Growth Drives Investment Interest
The level of supply of stablecoins has been driven to about $290 billion with the enactment of the GENIUS Act in July. Listed real-world assets have also soared to about 30 billion in market value. This development justifies the proposal to tokenize the stablecoin ETF at the right time and demonstrates that the market is very much in need.
The suggested regulated crypto ETFs reflect institutional interest in accessing blockchain-based assets as the traditional finance becomes progressively more aligned with decentralized markets. Bitwise stablecoin products can address an investment void that has been awaited by several institutional investors.
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The Bitwise ETF filing comes at a time when both stablecoins and tokenized assets are experiencing unprecedented growth, making it an opportune moment for such a product to enter the market.