Bitwise Files for AI Drug Discovery ETF Targeting Clinical-Stage Biotech

Bitwise has filed to launch the Bitwise AI Drug Discovery ETF, an actively managed fund investing at least 80% of its assets in companies using artificial intelligence to discover or design therapeutic drugs. Eligible companies must operate in biotechnology, pharmaceuticals or life sciences tools and services, demonstrate AI's importance through regulatory filings, and have AI-developed drug candidates in clinical trials or approved by regulators. The fund will favor companies with later-stage clinical candidates and multiple AI-discovered therapies in development. Up to 20% may be allocated to related AI technology providers and drug development partners. The ETF may invest across market capitalizations, including IPOs and emerging markets, with up to 15% in Chinese issuers listed in Hong Kong. The fund will be non-diversified and concentrated in healthcare.