Wall Street Got A New Crypto Shortcut: Bitwise's Top 10 ETF Hits Market
Bitwise Asset Management has brought one of the crypto market’s earliest index products into the mainstream trading arena with an announcement that the Bitwise 10 Crypto Index ETF (NYSE:BITW) has officially commenced trading on NYSE ARCA.
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First unveiled in 2017 as the world’s earliest crypto index fund, BITW has now been repackaged as an exchange-traded product designed to give broad exposure to the sector’s largest digital assets. The fund was earlier trading on OTCQX Best Market, an over-the-counter platform.
A Basket Of The 10 Largest Cryptocurrencies
BITW follows the Bitwise 10 Large Cap Crypto Index, which is a monthly rebalanced portfolio of the 10 largest cryptocurrencies by market capitalization. Each asset is filtered for liquidity, custody, security, regulatory status and compliance. The fund has no cap on its top position, so it often leans heavily in whichever direction the market leader takes at any given moment.
Currently, Bitcoin (CRYPTO: BTC) leads the fund portfolio with a weighting of 74.34%, followed by Ethereum (CRYPTO: ETH) at 15.55%, then XRP (CRYPTO: XRP) at 5.17%, and Solana (CRYPTO: SOL) at 3.07%. Other smaller allocations include Cardano, Chainlink, Litecoin, Avalanche, Sui and Polkadot.
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New ETP Structure Tightens Allocation Rules
Under its revised framework, BITW would invest 90% of its portfolio in crypto assets already represented in existing single-coin ETPs — currently Bitcoin, Ethereum, Solana and XRP. All other assets would share an aggregate 10% allocation cap. The new entrant cryptocurrencies may eventually shift to the 90% category, provided they receive similar regulatory clearance.
Bitwise says its index approach reduces the guesswork for investors unsure which cryptocurrencies will outperform over time.
"Most investors we meet are convinced crypto is here to stay, but they don’t know who the winners will be or how many will succeed," said Matt Hougan, CIO of Bitwise. "BITW will own the largest, most successful assets, whatever they happen to be."
CEO Hunter Horsley added that accelerating mainstream adoption makes 2025 an ideal moment for BITW's uplisting, noting index investing could become one of the most popular entry points into crypto.
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