Bitwise Asset Management has introduced a new exchange-traded fund (ETF) designed to provide exposure to companies with significant Bitcoin holdings.
The Bitwise Bitcoin Standard Corporations ETF (OWNB) was launched on March 11 and will be listed on NYSE Arca with an expense ratio of 0.85%.
OWNB tracks the Bitwise Bitcoin Standard Corporations Index, which includes publicly traded companies that hold at least 1,000 Bitcoin in their corporate treasuries.
The index is rebalanced quarterly, with company weightings determined by their Bitcoin holdings. The largest individual holding is capped at 20%, while companies with less than 33% of their assets in Bitcoin are assigned a weighting of 1.5%.
Public Companies Holding Significant Bitcoin
Bitwise stated that as of the end of 2024, public companies collectively held 591,817 BTC. The ETF’s top three holdings are MicroStrategy (20.87%), MARA Holdings (12.12%), and CleanSpark (6.26%).
Other key firms in the index include Riot Platforms, Boyaa Interactive, Metaplanet, Aker ASA, Bitfarms, Bitfufu, and Galaxy Digital.
The fund does not directly invest in Bitcoin or Bitcoin derivatives. Instead, it provides investors with indirect exposure to the cryptocurrency market by holding equities of firms that have incorporated Bitcoin into their balance sheets.
The launch of OWNB reflects a broader trend of corporations diversifying their treasury assets into Bitcoin, driven by the appeal of digital assets amid low-yielding cash alternatives.
Bitwise has identified 70 publicly traded companies that currently hold Bitcoin, reinforcing the growing interest in cryptocurrency as a corporate asset.
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