Bitwise and GraniteShares have filed for novel ETFs tied to U.S. election outcomes, seeking SEC approval. Their proposed funds would allow investors to bet on political results through binary event contracts. These filings follow a similar proposal from Roundhill earlier in the month, signaling growing interest in financializing prediction markets.
Bitwise and GraniteShares have filed to launch exchange-traded funds linked to U.S. election outcomes. The filings were made with the U.S. Securities and Exchange Commission on Tuesday.
Bitwise filed a prospectus for six ETFs branded as PredictionShares on NYSE Arca. The first two funds are tied to the winner of the 2028 U.S. presidential election, as stated in the document.
Two more funds relate to which party wins the Senate in November 2026. The final pair of funds correspond to the outcome of the House elections.
Each fund invests at least 80% of its net assets in binary event contracts traded on CFTC-regulated exchanges. These contracts settle at $1 if the referenced outcome occurs and $0 if it does not.
“In the event that a member of the Democratic Party is not the winner of the 2028 Presidential election, the fund will lose substantially all of its value,” the Bitwise prospectus explained. The price of fund shares would fluctuate between $0 and $1 based on market sentiment.
GraniteShares also filed for six similar funds with identical structures on the same day. This follows a prior filing from Roundhill for comparable election-based ETFs on February 14.
Bloomberg ETF analyst James Seyffart commented on the trend. “The financialization and ETF-ization of everything continues,” he wrote.
Seyffart added this is not the first filing of its kind. He noted he believes it is extremely unlikely these will be the last such proposals.
