Bitwise – among the top-tier crypto fund management entities globally – has reportedly finalized the filing for a new prospectus with the US SEC, to release an exchange-traded fund, dubbed “crypto innovators.” 

Specifically, the fund manager finalized the submission of the form N-1A with the SEC on February 5th, in which it detailed its target of rolling out the Bitwise Crypto Innovators ETF.

The proposed ETF will reportedly be in charge of tracking the performance of the Bitwise Crypto Innovators Index.

The proposed Index will reportedly be made up of either mainly firms which derive over 75% of their revenue from the crypto sphere, or having in possession over 75% of their net assets held in cryptocurrency. 

The rest reportedly includes large-cap establishments which have a “dedicated business initiative” concentrating on crypto.

Per the prospectus, crypto innovators include digital trading platforms, custodians and wallets; financial service providers utilizing blockchain and crypto features, financial establishments catering to customers associated with the crypto asset industry, as well as blockchain infrastructure service providers.

“The term “Crypto Innovators” generally refers to companies that service and transact in the segment of the economy dealing with crypto assets and distributed ledger technology.”

A noteworthy point to take is the proposed ETF will reportedly not carry out investments in digital assets in a direct manner, or via derivative. The fund will also steer clear from any dealings with initial coin offerings. 

For years, Bitwise has been taking the frontlining position regarding the crypto ETF debate. Last year in January, the fund manager shelved its long-standing Bitcoin ETF application, similar to an initiative by VanEck.