Bitwise is filing for a new exchange traded fund (ETF), the Bitcoin Standard Corporations ETF, that may mirror the S&P 500.
Specifically, this new investment product will track companies that adopt Bitcoin as a core treasury asset. Bitwise has notified the SEC of its intent for this product. The market launch is planned for 2025.
The ETF aims to invest in companies that have integrated the “Bitcoin standard” by holding significant Bitcoin reserves in their treasuries.
Tracking Bitcoin-heavy companies
As part of its principal investment strategies, the ETF will invest at least 80% of its assets in securities within the Index, prioritizing full replication. To qualify for inclusion, companies must hold at least 1,000 BTC and have a market capitalization of $100 million or more. In addition, they must have daily liquidity of at least $1 million and have a public float of at least 10%.
The design of the ETF reflects the growing interest in Bitcoin adoption in the corporate sector.
MicroStrategy tops the list of eligible companies with a whopping 444,262 BTC in its treasury. In comparison, other well-known companies such as Tesla (9,720 BTC), Marathon Digital (44,394 BTC) and Block Inc. (8,363 BTC) are also prominently represented.
Industry Buzz: “Bitcoin Treasury Operations Virus”
Nate Geraci, President of ETF Store, emphasized the broader importance of this ETF in a tweet. He noted that the concept of the “Bitcoin standard” appears to be spreading like a “virus” among companies.
Eric Balchunas, senior ETF analyst at Bloomberg, called this ETF “the one people have been asking for,” especially among…
