Key Points
- Bitwise has launched a new ETF that includes public companies holding at least 1,000 Bitcoin.
- The ETF will offer investors exposure to companies making significant moves in the crypto space.
Bitwise, a leading crypto index fund manager, has introduced a new exchange-traded fund (ETF) on the New York Stock Exchange.
The ETF is unique in that it includes public companies that hold a minimum of 1,000 Bitcoin (BTC) in their corporate treasuries.
Details of the ETF
According to a press release on March 11, the Bitwise Bitcoin Standard Corporations ETF will initially include 10 holdings.
Major companies like MicroStrategy, MARA Holdings, and CleanSpark are part of this ETF.
Other companies in the index include Riot Platforms, Boyaa Interactive, and Mike Novogratz’s crypto bank Galaxy Digital.
The index is rebalanced every quarter and weights holdings based on the amount of Bitcoin owned, with certain limits to ensure diversification.
Bitwise’s Perspective
Bitwise CIO Matt Hougan commented on the launch, stating that the decision to include the mentioned companies was due to their perception of Bitcoin as a strategic reserve asset.
He believes that companies are only beginning to embrace this trend and this ETF provides investors with exposure to innovative firms leading the way.
The ETF aims to attract Bitcoin maximalists, but it won’t invest in Bitcoin directly or through derivatives.
Instead, it provides investors with exposure to companies making significant moves in the crypto space.
The launch of this ETF follows closely on the heels of Bitwise announcing another ETP product that combines Bitcoin and gold, dynamically adjusting allocations based on market conditions.
The Bitwise Diaman Bitcoin & Gold ETP, available on Euronext Paris and Amsterdam, follows the Diaman Bitcoin & Gold Index to adjust allocations based on market conditions.