Bitwise has launched an updated Bitcoin Standard Corporations ETF that allows investors to place bets on companies that stack at the minimum of 1,000 BTC.
Bitwise, the world’s biggest crypto index fund manager, with an asset of $12 billion for its clients has launched a brand new trade-traded investment fund in the New York Stock Exchange that comprises public companies that have at minimum 1000 BTC ( BTC) in their corporate Treasury accounts.
In an 11 March press announcement, Bitwise said that the so-called Bitwise Bitcoin Standard Corporations ETF will comprise 10 holdings upon its launch that include major firms like MicroStrategy, MARA Holdings and CleanSpark. Other names included in the Index include Riot Platforms, Boyaa Interactive and Mike Novogratz’s crypto financial institution Galaxy Digital.
The index is regularly rebalanced and weighs holdings according to what amount Bitcoin owned, with a few restrictions to ensure diversification the press release says.
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“Companies are only getting started”
Commenting on the launch Bitwise CIO Matt Hougan said the choice to include the companies mentioned was based on their view about Bitcoin in the sense of “a strategic reserve asset that’s liquid and scarce — and not subject to the whims or money printing of any government.”
“We believe that businesses are just starting to take off and this ETF exposes investors to companies that are who are at leading the way in this movement.
Although the ETF is targeted at Bitcoin maximumists, it will not be investing into Bitcoin directly or via derivatives. Instead, it will give investors exposure to companies that are making significant changes in the cryptocurrency space as per the press announcement.
The announcement comes two days after Bitwise has announced another ETP offering which combines Bitcoin as well as gold constantly altering allocations in response to market conditions. It is the Bitwise Diaman Bitcoin & Gold ETP that is offered through Euronext Paris and Amsterdam, is based on its Diaman Bitcoin & Gold Index to adjust allocations according to market conditions.