Bitwise has launched a new Exchange-Traded Fund (ETF) that includes companies holding Bitcoin. Instead of directly investing in Bitcoin, this ETF allows investors to invest in shares of companies owning this asset. Bitwise has received approval from the U.S. Securities and Exchange Commission (SEC) to offer this fund named Bitwise Standard Corporations ETF with the symbol OWNB, making it the first of its kind. Companies included in the index must hold a minimum of 1,000 Bitcoins. The fund’s assets are weighted based on the amount of Bitcoin held by companies, with the largest company’s share capped at 20 percent. Companies holding over 1,000 Bitcoins but allocating less than 33 percent of their assets to Bitcoin will automatically have a 1.5 percent weight in the index. The fund’s composition will be rebalanced quarterly. The ETF is introduced at a time when despite capital outflows from Bitcoin ETFs, the demand for shares of Bitcoin-holding companies remains high. The ETF includes shares of prominent companies like Strategy, MARA Holdings, Clean Spark, Riot Platforms, and Boyaa Interactive. Currently, over 70 public companies collectively hold more than 650,000 Bitcoins on their balance sheets. Strategy intends to allocate an additional $21 billion to buy Bitcoin, with more companies joining this trend. You can track the real-time prices of all tokens and cryptocurrencies on the digital currency price page.
