Bitwise Asset Management has officially launched its 10 Crypto Index ETF, known as BITW, on NYSE Arca. This significant move comes after receiving approval from the SEC, allowing the ETF to transition from OTCQX in an effort to enhance liquidity for its substantial $1.25 billion fund.
The BITW ETF offers investors exposure to a diverse portfolio of ten cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana, Cardano, Chainlink, Litcoin, Sui Network, Avalaunch, and Polkadot. As of now, Bitcoin represents the largest portion of the fund”s holdings at 74.34%, reflecting its dominance in market capitalization. Ethereum follows with a weight of 15.55%, while smaller allocations are made to altcoins such as XRP at 5.17% and Solana at 3.07%. Together, Bitcoin and Ethereum account for 89.89% of the ETF”s total weight.
According to Matt Hougan, CIO of Bitwise, the index approach enables investors to engage with the cryptocurrency market without the need to predict future trends. He emphasized that BITW will encompass the largest and most successful assets in the cryptocurrency space based on market capitalization, providing broad-based exposure to the sector.
In a strategic move, BITW will allocate 90% of its crypto assets to existing single-coin exchange-traded products (ETPs) that include Bitcoin, Ether, Solana, and XRP. The remaining 10% will consist of other cryptocurrency assets not included in these four. Should additional cryptocurrencies gain legal recognition similar to BTC, ETH, SOL, and XRP, they will also be classified within the 90% allocation.
This ETF structure presents a streamlined investment opportunity for those looking to diversify their cryptocurrency holdings through a single product. It offers a notable advantage over traditional individual crypto ETPs by simplifying the investment process and mitigating the complexities of managing multiple assets.
Additionally, the BITW ETF”s structure involves a management fee and other extraordinary expenses, which may result in a gradual decrease in the amount of cryptocurrency represented by each share throughout the fund”s lifecycle. This will occur regardless of fluctuations in cryptocurrency prices.
Hunter Horsley, CEO of Bitwise, remarked that this launch marks a pivotal moment for the cryptocurrency asset class. With BITW”s listing as an ETP, it represents the first NYSE-traded index fund for cryptocurrency, potentially transforming how investors gain exposure to this emerging market.
In related news, SS&C ALPS Advisors has announced plans to shift the listing of several ETFs to NYSE Arca, including the O”Shares US small-cap quality dividend ETF and others, effective around December 30, 2025, though this date is subject to change.
