Bitwise ETF Featuring Bitcoin, Ethereum, XRP Launches on NYSE Arca

TLDR

• Bitwise’s new multi-crypto ETF, BITW, is now live on the NYSE Arca, providing easy access to major digital assets.
• The ETF includes Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Litecoin, Sui, Avalanche, and Polkadot.
• Bitcoin holds the largest weight in the ETF, making up over 74% of the fund’s assets.
• Bitwise launched the ETF with $1.25 billion in assets under management, making it the largest crypto index fund globally.
• The ETF follows a rules-based structure, ranking assets by market value and rebalancing monthly to maintain liquidity and risk standards.

Bitwise’s new exchange-traded fund (ETF) has officially launched on the NYSE Arca, providing a simple way for investors to access major cryptocurrencies. The ETF, with the ticker BITW, gives investors exposure to a basket of digital assets, including Bitcoin, Ethereum, XRP, Solana, Cardano, and others. Bitwise’s launch marks a significant milestone, as the fund had previously operated as an index product for years.

The ETF now has a full exchange-traded structure after being held up during the review process by the U.S. Securities and Exchange Commission (SEC). The fund has launched with $1.25 billion in assets under management, making it the largest crypto index fund globally by size. Bitwise has emphasized that this listing reflects years of effort to bring more access to digital assets.

Bitwise’s Asset Composition and Structure

The Bitwise ETF is made up of Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Litecoin, Sui, Avalanche, and Polkadot. Bitcoin holds the largest weight, comprising over 74% of the fund, while Ethereum follows with approximately 15%. XRP, Solana, and Cardano each hold a smaller portion of the fund, reflecting their positions in the broader crypto market.

This ETF provides a rules-based structure, where assets are ranked by market value, liquidity, and risk. The fund is rebalanced monthly to maintain its holdings in the most valuable and liquid assets. “We’re providing investors with a way to access the top crypto assets without needing to make speculative choices,” said Bitwise CIO Matt Hougan.

Harvard’s Bitcoin Allocation Highlights Institutional Shift

The launch of the Bitwise ETF aligns with growing institutional interest in digital assets. Bitwise’s product has received praise for its regulated nature, which makes it easier for institutions to allocate to crypto assets. Hougan pointed to the recent Bitcoin allocation by Harvard University as an example of increasing institutional conviction.

Bitwise also clarified that it would add or remove assets as needed through the monthly rebalancing process. This ensures the fund remains in line with the most valuable and liquid assets. Bitwise has already expressed interest in expanding its crypto offerings, with plans for an Avalanche ETF in the future.

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