Predictit Market ETFication, Bitwise Launches 6 U.S. Election Theme Prediction Market ETFs

BlockBeats News, February 18th, ETF issuers Bitwise and GraniteShares have filed applications with the U.S. Securities and Exchange Commission to launch event contract funds tied to U.S. election results.

Bitwise's prospectus submitted on Tuesday shows its plan to launch six prediction market-style ETFs on NYSE Arca under the name "PredictionShares." These funds will each track the party affiliation results of the 2028 presidential election and the 2026 Congressional elections — if the Democratic Party or Republican Party wins, the corresponding fund will appreciate in value; if they fail to win, the fund will experience a "substantial loss in value."

Each fund will invest at least 80% of its net assets in binary event contracts traded on CFTC-regulated exchanges. These contracts settle at $1 when the outcome occurs, otherwise settle at $0.

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

Roundhill submitted a similar fund application on February 14th. Bloomberg ETF analyst James Seyffart commented, "The financialization and ETF-ization of everything continues. This is not the first such application, nor is it likely to be the last."