Well, now, what do we have here? Bitwise, them sly foxes, have gone and rolled out a new exchange-traded fund (ETF) to track the bigwigs who’ve got Bitcoin stashed in their corporate vaults. Now, this ain’t no direct Bitcoin investment, mind you, but it sure does give you a peek into the companies that are holding the digital gold.
According to a statement, Bitwise has wrangled the approval of the US SEC to launch this new ETF, which they’re calling the Bitwise Standard Corporations ETF, ticker symbol OWNB. This ETF will provide exposure to Bitcoin-holding companies via an index strategy. Ain’t that just dandy?
The fund, being the first of its kind, will only include companies that own at least 1,000 BTC. The holdings are weighted by the amount of BTC they own, with the largest ownership capped at 20% to keep things diversified. Companies with over 1,000 BTC but less than 33% of their proprietary assets in BTC will get an automatic weighting of 1.5%. The index will be rebalanced quarterly, and the ETF won’t invest in Bitcoin directly or indirectly. Just in time, too, as the appetite for Bitcoin ETFs is reaching new lows.
The Bitwise ETF will track the likes of Strategy, MARA Holdings, Clean Spark, Riot Platforms, and Boyaa Interactive, all thanks to their impressive BTC holdings. “OWNB allows investors to gain exposure to a diverse array of forward-thinking companies through a familiar ETF wrapper,” Bitwise announced, with all the flair of a carnival barker.
Over 70 publicly traded companies collectively hold more than 650,000 BTC on their balance sheets. Strategy is looking to scoop up another $21 billion worth of BTC, and new firms are lining up to join the party. Bitwise, not content to rest on their laurels, has also filed an S-1 for an Aptos ETF, partnered with Maple Finance for on-chain credit, and has their eyes set on a Dogecoin ETF. They’re even pledging a donation to the Bitcoin open-source development. What a time to be alive! 🚀
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2025-03-12 12:12