3 weeks ago
Bitwise Asset Management has launched Bitwise Bitcoin Standard Corporations ETF (OWNB), a caller concern merchandise designed to supply vulnerability to companies holding important Bitcoin reserves.
According to a March 11 statement, the ETF follows the Bitwise Bitcoin Standard Corporations Index, which includes firms that person integrated Bitcoin into their firm treasuries.
Bitwise CIO Matt Hougan highlighted the rationale down firm Bitcoin holdings. He pointed retired that businesses clasp trillions successful currency portion the US authorities runs an yearly shortage exceeding $2 trillion.
As a result, galore firms presumption Bitcoin arsenic a strategical reserve asset—liquid, scarce, and autarkic of authorities monetary policies.
Hougan said:
“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. We deliberation companies are lone getting started here, and this ETF gives investors vulnerability to innovative firms astatine the forefront of this trend.”
On the different hand, Bitwise CEO Hunter Horsley pointed retired that respective firms are present pursuing the blueprint acceptable by Strategy and Michael Saylor, with implicit 70 companies present holding Bitcoin arsenic portion of their treasury strategy.
OWNB
According to the statement, companies indispensable clasp astatine slightest 1,000 BTC to suffice for inclusion. The scale weights holdings based connected Bitcoin ownership portion ensuring diversification.
Bitwise explained that nary azygous institution tin relationship for much than 20% astatine rebalancing, and firms wherever Bitcoin represents little than 33% of full assets person an automatic 1.5% weighting.
At launch, Strategy held the largest scale stock astatine 20.87%, reflecting its assertive Bitcoin accumulation strategy.
MARA Holdings, a Bitcoin mining firm, accounted for 12.12%, portion CleanSpark and Riot Platforms, some focused connected energy-efficient Bitcoin mining, represented 6.26% and 6.23%, respectively.
Meanwhile, Asia-based firms are not excluded, with China’s gaming elephantine Boyaa Interactive astatine 5.75% and Metaplanet, a Japanese institution with 5.25% exposure.
Additionally, Aker ASA, a Norwegian concern concern firm, made up 4.63% of the index, portion Bitcoin mining operations Bitfarms and BitFuFu had 4.30% and 4.03%, respectively. The fiscal services institution Galaxy Digital rounded retired the apical holdings with 3.99%.
The station Bitwise launches Bitcoin Standard ETF of stocks owning implicit 1,000 BTC appeared archetypal connected CryptoSlate.
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