Overview
- Bitwise’s BITW began trading Tuesday after SEC approval, becoming the second U.S. multi-asset crypto index ETP after Grayscale’s July listing.
- BITW tracks ten tokens—bitcoin, ether, XRP, solana, chainlink, litecoin, cardano, avalanche, sui, and polkadot—under a published index methodology.
- The fund rebalances monthly using market-cap and liquidity screens, allocates roughly 90% to assets already in single-coin ETPs, and caps all others at a combined 10%.
- The product launched with roughly $1.25 billion in assets, though one outlet reported $1.5 billion, reflecting differing initial AUM tallies.
- Bitwise executives framed the uplisting as expanding access for advisors and retirement accounts, while coverage noted concentration risks and recent small-coin volatility.