Bitwise Launches Crypto Index ETF on NYSE, Broadening Investor Access
The Bitwise 10 Crypto Index ETF (BITW) begins trading with over $1.25 billion in assets, offering diversified exposure beyond Bitcoin.
Bitwise Asset Management has launched its flagship crypto index fund as an exchange-traded fund on the NYSE Arca, providing investors with a simplified, regulated vehicle to gain diversified exposure to the digital asset market.
The Bitwise 10 Crypto Index ETF (BITW), which began trading Tuesday, brings over $1.25 billion in assets under management to the exchange. The fund aims to track an index of the 10 largest cryptocurrencies weighted by market capitalization, offering a broader alternative to the spot Bitcoin ETFs that have dominated the market this year.
The move marks a significant step in the maturation of cryptocurrency as a mainstream asset class. While single-asset ETFs for Bitcoin and Ethereum have attracted substantial institutional capital, the BITW launch provides a passive, diversified strategy in a single trade. This structure is familiar to traditional equity investors who often use index funds like those tracking the S&P 500 for broad market exposure.
On its first day of trading, BITW closed with a market price of $63.77 against a Net Asset Value (NAV) of $63.99, representing a minor discount of 0.35%, according to data on the fund's website. The fund's transition from an over-the-counter (OTCQX) quotation to a major national exchange is designed to improve liquidity and tighten the relationship between its market price and the value of its underlying assets.
The launch comes amid a banner year for crypto-based financial products. Institutional adoption has surged in 2025, with U.S.-listed spot Bitcoin ETFs alone recording tens of billions in inflows. This wave of investment has been bolstered by a more streamlined regulatory environment, with the Securities and Exchange Commission (SEC) taking steps to reduce approval timelines for crypto ETFs, signaling a greater acceptance of digital assets within the traditional financial framework.
The demand for regulated crypto products is evident across the market. In recent months, institutional inflows into both Bitcoin and Ethereum ETFs have remained robust, even during periods of price volatility. According to recent market analysis, ETFs now hold approximately 6.8% of the total Bitcoin supply, highlighting the structural shift in market dynamics driven by these new investment vehicles.
By offering a basket of the top crypto assets—including Bitcoin, Ethereum, and other major altcoins—Bitwise is betting on investor appetite for diversification. As the digital asset ecosystem expands, a diversified index approach may appeal to investors looking to capture broader market growth without concentrating risk in a single asset.
The successful launch of BITW on the NYSE could pave the way for a wider array of regulated crypto products, including funds that focus on specific sectors within the digital asset economy. With investment giants like BlackRock and Vanguard now providing clients with access to crypto ETFs, the launch of an index-based product on a premier exchange further solidifies the industry's integration into mainstream finance.