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Bitwise has launched an exchange-traded money (ETF) holding stocks of companies with ample Bitcoin (BTC) treasuries, the plus manager said connected March 11.
The Bitwise Bitcoin Standard Corporations ETF (OWNB) “seeks to way the Bitwise Bitcoin Standard Corporations Index, a caller equity scale of companies with astatine slightest 1,000 bitcoin successful their firm treasuries,” Bitwise said.
The ETF is the latest successful a flurry of caller concern products aimed astatine offering vulnerability to companies with ample Bitcoin treasuries.
“A batch of radical wonder: Why bash companies bargain and clasp bitcoin? The reply is simple: For the nonstop aforesaid reasons radical do,” Matt Hougan, Bitwise’s main concern officer, said successful a statement.
“These companies comprehend bitcoin arsenic a strategical reserve plus that’s liquid and scarce — and not taxable to the whims oregon wealth printing of immoderate government.”
Public companies are among the largest organization Bitcoin holders. Source: BitcoinTreasuries.NET
Related: Trump-linked Strive files for ‘Bitcoin Bond’ ETF
Index of Bitcoin buyers
As of March 11, the ETF’s largest holdings see Strategy (MSTR), Michael Saylor’s de facto Bitcoin fund, and Bitcoin miners specified arsenic MARA Holdings (MARA), CleanSpark (CLSK), and Riot Platforms (RIOT).
It besides includes stocks specified arsenic gaming institution Boyaa Interactive and concern manager Galaxy Digital (GLXY).
Bitwise’s scale is weighted based connected the magnitude of Bitcoin held, with the largest holding capped astatine 20%, the plus manager said.
OWNB’s largest holdings. Source: BItwise
Bitcoin treasuries instrumentality off
In 2024, rising Bitcoin prices sent shares of Strategy soaring much than 350%, according to data from FinanceCharts. The determination prompted dozens of different companies to commencement accumulating Bitcoin treasuries. According to BitcoinTreasuries.NET, firm Bitcoin holdings transcend $54 cardinal arsenic of March 11.
Strategy remains the largest firm Bitcoin holder, with a treasury worthy much than $41 billion, the information shows.
Even the US authorities has created a strategical Bitcoin reserve, initially comprising lone Bitcoin seized by instrumentality enforcement.
Other plus managers are launching akin concern products to Bitwise’s. In December, plus manager Strive, founded by erstwhile US statesmanlike hopeful Vivek Ramaswamy, asked United States regulators for permission to database an ETF investing successful convertible bonds issued by Strategy and different firm Bitcoin buyers.
The ETF seeks to connection vulnerability to “Bitcoin Bonds,” described arsenic “convertible securities” issued by companies that program to “invest each oregon a important information of the proceeds to acquisition Bitcoin,” according to the filing.
Asset manager REX Shares is besides preparing to motorboat a Bitcoin firm treasury ETF, it said connected March 10.
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