Bitwise plans to launch six ETFs using a prediction market model on NYSE Arca

According to Cointelegraph, ETF issuers Bitwise and GraniteShares have submitted applications to the U.S. Securities and Exchange Commission to launch event contract funds linked to the results of the U.S. elections.
Bitwise's prospectus submitted on Tuesday shows that it plans to launch six prediction market-style ETFs named "PredictionShares" on NYSE Arca. These funds will track the partisan affiliation results of the 2028 presidential election and the 2026 congressional elections—if the Democratic or Republican party wins, the corresponding fund will gain capital appreciation; if they do not win, the fund will "essentially lose all value."

At least 80% of each fund's net assets will be invested in binary event contracts traded on CFTC-regulated exchanges. Such contracts settle at $1 when the outcome occurs, and $0 otherwise.

On the same day, ETF issuer GraniteShares also submitted prospectuses for six similarly structured election result-linked funds.

Roundhill submitted a similar fund application on February 14. Bloomberg ETF analyst James Seyffart commented, "The financialization and ETF-ization of everything continues. This is not the first such application, and it is highly unlikely to be the last."