Global crypto asset manager Bitwise, which oversees more than $15 billion in assets, has filed to launch PredictionShares ETFs designed to track 2028 U.S. election results.
The filing shows plans to launch six separate ETFs tied to the outcomes of major U.S. elections.
Bitwise Files PredictionShares ETFs
On 17 Feb, Bitwise submitted a prospectus to launch six prediction-market ETFs under its PredictionShares brand. These ETFs will be listed on NYSE Arca and structured as part of the Bitwise Funds Trust.
Meanwhile, the lineup he proposed includes funds tied to the 2028 U.S. presidential election and the 2026 congressional elections.
- Two funds will track whether a Democratic or Republican candidate wins the presidency in November 2028.
- Another two funds will focus on which party gains control of the U.S. Senate in November 2026, while the remaining two funds will track control of the House of Representatives.
The filing confirms that each PredictionShares ETF will function as an exchange-traded fund designed to provide returns based on specific U.S. political election outcomes.
Prediction Market ETF Structure Uses Binary Event Contracts
According to the prospectus, each Bitwise PredictionShares ETF will invest at least 80% of its net assets in binary event contracts traded on Commodity Futures Trading Commission (CFTC) regulated exchanges. These contracts operate with a fixed payout structure.
If the predicted political outcome occurs, the contract settles at $1. If the outcome does not occur, the value settles at $0.
Bitwise CIO Matt Hougan said prediction markets are growing rapidly and becoming more important in global financial markets.
The company sees prediction market ETF exposure as a new opportunity for investors seeking alternative strategies.
Other ETF Issuers Joining Bitwise
Following Bitwise’s footsteps, GraniteShares also filed on February 17 for six similar ETFs based on U.S. election outcomes. The structure of its proposed funds is almost the same, focusing on political event contracts.
These filings came shortly after Roundhill applied for election-based prediction-market ETFs, signaling rising interest in this space.
However, the SEC has not approved any of these products yet. If approved, they could create a new category of regulated investment ETFs linked to U.S. election results.
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