Bitwise Funds Trust submitted a post-effective amendment on Sept. 16, 2025, for the Bitwise Stablecoin and Tokenization ETF, with effectiveness targeted 75 days after filing under Rule 485(a)(2); the preliminary prospectus leaves the listing exchange and ticker blank.

The fund’s objective is to mirror the Bitwise Stablecoin and Tokenization Index, investing at least 80% of assets in index constituents via a full-replication approach. The adviser is Bitwise Investment Manager, and the index is administered by an affiliate, Bitwise Index Services.

The index splits evenly into two sleeves: an Equity Sleeve of “Stablecoin & Tokenization Companies” and a Crypto Asset Sleeve that uses exchange-traded products for blockchain exposure tied to that ecosystem.

Eligible equities span issuers, infrastructure providers, payment processors, tokenization-oriented exchanges/brokerages, and retailers. Constituents are tiered by business exposure, with selection favoring the 20 largest Tier 1 and Tier 2 names; caps are 15% (Tier 1), 8% (Tier 2), and 3% (Tier 3 if needed).

On the crypto side, the fund won’t hold tokens directly; it can hold single-asset crypto ETPs and allocate 5% to oracles. The largest Crypto Asset Sleeve component is capped at 22.5%, and the index rebalances quarterly.

Risks run the gamut: stablecoin de-pegs and policy whiplash, tokenization legal gray areas, custody and disclosure differences for non-U.S. ETPs, tech-sector concentration, and the usual ETF premium/discount dynamics—plus the realities of a brand-new fund. Translation: it targets the rails, but the rails can rattle with risk and volatility.

Many believe stablecoins, tokenization, and oracles are tipped for explosive expansion thanks to their knack for upgrading global payments, slashing settlement times, and making cross-border transfers smoother. They trim the middlemen, cut costs, and crank up transparency while doing it all with digital polish.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。