Bitwise Launches Multi-Crypto ETF BITW on NYSE Arca

Bitwise has launched a new ETF called BITW on the NYSE Arca, allowing investors to access major cryptocurrencies through a single product.

The ETF includes Bitcoin, Ethereum, XRP, Solana, Chainlink, Litecoin, Sui, Avalanche, and Polkadot. This launch marks a major milestone for Bitwise because the fund used to operate only as an index product for years.

The SEC had delayed the fund during its review, but Bitwise has now completed the transition to a full ETF. The fund launched with $1.25 billion in assets, making it the world’s largest crypto index fund.

Bitwise said the new listing shows years of effort to make crypto more accessible. The company’s  CIO, Matt Hougan, also noted that large institutions are showing more confidence in crypto, pointing to Harvard University’s recent Bitcoin investment as an example.

Jeff Park, an advisor to Bitwise, said that people in the crypto industry have wanted cryptocurrencies to be accepted in regular financial systems. He believes the BITW ETF is a big step in that direction and will be a turning point for diversified crypto investing.

Bitwise ETF Automatically Adjusts Top Cryptocurrencies for Investors

The Bitwise ETF follows a set of rules to decide which cryptocurrencies to include. It ranks them by size, assesses their risks and liquidity, and updates the holdings monthly to retain only the most valuable assets.

Currently, Bitcoin accounts for the largest portion of the ETF, comprising over 74%. Ethereum comes next with about 15%, and XRP, Solana, and Cardano make up smaller portions.

Bitwise explained that this setup means investors don’t have to guess which cryptocurrencies will perform the best because the fund automatically selects the top assets without manual decisions.

Additionally, if new cryptocurrencies become significant, they are added to the ETF during the monthly rebalancing. Bitwise also said all changes are announced each month publicly, and no coin gets special treatment.