Bitwise has launched an exchange-traded fund (ETF) holding shares of corporations with massive Bitcoin (BTC) treasuries, the asset supervisor stated on March 11.
The Bitwise Bitcoin Normal Firms ETF (OWNB) “seeks to trace the Bitwise Bitcoin Normal Firms Index, a brand new fairness index of corporations with a minimum of 1,000 bitcoin of their company treasuries,” Bitwise stated.
The ETF is the newest in a flurry of latest funding merchandise aimed toward providing publicity to corporations with massive Bitcoin treasuries.
“Lots of people marvel: Why do corporations purchase and maintain bitcoin? The reply is easy: For the very same causes folks do,” Matt Hougan, Bitwise’s chief funding officer, stated in a press release.
“These corporations understand bitcoin as a strategic reserve asset that’s liquid and scarce — and never topic to the whims or cash printing of any authorities.”
Public corporations are among the many largest institutional Bitcoin holders. Supply: BitcoinTreasuries.NET
Associated: Trump-linked Try recordsdata for ‘Bitcoin Bond’ ETF
Index of Bitcoin patrons
As of March 11, the ETF’s largest holdings embody Technique (MSTR), Michael Saylor’s de facto Bitcoin fund, and Bitcoin miners akin to MARA Holdings (MARA), CleanSpark (CLSK), and Riot Platforms (RIOT).
It additionally consists of shares akin to gaming firm Boyaa Interactive and funding supervisor Galaxy Digital (GLXY).
Bitwise’s index is weighted based mostly on the quantity of Bitcoin held, with the most important holding capped at 20%, the asset supervisor stated.
OWNB’s largest holdings. Supply: BItwise
Bitcoin treasuries take off
In 2024, rising Bitcoin costs despatched shares of Technique hovering greater than 350%, in keeping with knowledge from FinanceCharts. The transfer prompted dozens of different corporations to begin accumulating Bitcoin treasuries. In response to BitcoinTreasuries.NET, company Bitcoin holdings exceed $54 billion as of March 11.
Technique stays the most important company Bitcoin holder, with a treasury value greater than $41 billion, the info reveals.
Even the US authorities has created a strategic Bitcoin reserve, initially comprising solely Bitcoin seized by legislation enforcement.
Different asset managers are launching comparable funding merchandise to Bitwise’s. In December, asset supervisor Try, based by former US presidential hopeful Vivek Ramaswamy, requested United States regulators for permission to record an ETF investing in convertible bonds issued by Technique and different company Bitcoin patrons.
The ETF seeks to supply publicity to “Bitcoin Bonds,” described as “convertible securities” issued by corporations that plan to “make investments all or a good portion of the proceeds to buy Bitcoin,” in keeping with the submitting.
Asset supervisor REX Shares can be making ready to launch a Bitcoin company treasury ETF, it stated on March 10.
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