Bitwise launched the Bitwise 10 Crypto Index ETF (BITW) on the New York Stock Exchange on Tuesday, marking the first exchange-traded fund from a major crypto asset manager to include Avalanche (AVAX), Sui (SUI), and Polkadot (DOT). The fund debuted with over $1 billion in assets. It provides exposure to 10 digital currencies through a single investment vehicle.

What Happened: NYSE Debut

The ETF includes Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), Chainlink (LINK), Litecoin (LTC), Cardano (ADA), Avalanche, Sui, and Polkadot.

Hunter Horsley, Bitwise's CEO and co-founder, says the fund targets financial advisors and retail investors using individual retirement accounts. "This development significantly broadens the audience that can access these various assets, particularly for those digital currencies that lack a spot ETF," he said Monday.

BITW converted from a prior index fund holding the same digital assets.

The fund allocates 90% to Bitcoin, Ethereum, Solana, and XRP, with the remaining 10% split among the six other tokens. It will rebalance monthly, more frequently than most ETFs that adjust quarterly or semi-annually.

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Why It Matters: Broader Access

Asset managers have competed to introduce multi-crypto ETFs since Bitcoin and Ethereum spot ETFs gained approval in January 2024. However, crypto-focused investment vehicles experienced record withdrawals in October and November amid price declines.

Horsley said the timing benefits investors seeking comprehensive digital asset exposure without selecting individual cryptocurrencies. The company stated it has worked since 2017 to expand crypto access and views 2025 as a breakout year for the sector.

The ETF also provides exposure to emerging altcoins like Sui, plus memecoins including TRUMP and Dogecoin (DOGE), though with limited allocation to smaller-cap assets.

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