Asset manager Bitwise filed an application on Tuesday to create a new exchange-traded fund (ETF) focused on the stablecoin and asset tokenization sectors.
Bitwise's stablecoin and tokenization ETF, which was filed with the SEC on Tuesday, aims to provide investors with exposure to companies and crypto assets that will benefit from these important financial trends.
This application is part of a wave of crypto-related ETF proposals. In a clear sign of its interest in this sector, Bitwise also filed an application for an ETF focused on Avalanche (AVAX) just one day earlier.
According to Eric Balchunas, senior ETF analyst at Bloomberg, the new fund is structured under Rule 40 and could launch in late November.
Balchunas noted that the ETF will likely hold a mix of stocks and crypto assets.