Bitwise, a top crypto asset manager, introduces Bitcoin (BTC) Corporations ETF, a new product aimed at institutions with large BTC reserves on their balance sheets. The proposed product will be called Bitcoin Standard Corporations ETF. It targets publicly listed firms with at least 1000 BTC on their balance sheet. The Dec. 27 filing indicates that […] Сообщение Bitwise Plans A Bitcoin ETF That Tracks Top Firms появились сначала на КриптоВики.
Bitwise, a top crypto asset manager, introduces Bitcoin (BTC) Corporations ETF, a new product aimed at institutions with large BTC reserves on their balance sheets.
The proposed product will be called Bitcoin Standard Corporations ETF. It targets publicly listed firms with at least 1000 BTC on their balance sheet. The Dec. 27 filing indicates that for a company to fit into this ETF, its Bitcoin holdings must exceed a set threshold.
Besides holding 1,000 BTCs in their corporate treasury, such companies’ market cap must surpass $100 million. Also, they must maintain over $1 million daily trading volume while less than 10% of their shares must be held privately.
In addition to MicroStrategy, which holds the most BTC (at 444,262 BTC) among top firms, more than 30 companies worldwide have publicly traded shares that meet this ETF’s requirements.
Bitwise could include other firms in this ETF: Marathon Digital Holdings (MARA), Riot Platform, and Hut 8.
According to the filing, Bitwise management would adjust the index quarterly to confirm the integrity of the Bitcoin holding composition. This is accomplished through publicly available company reports.
Meanwhile, a risk factor is concentrating on one or a few ‘ crypto companies.’ However, the asset manager will address the issue by limiting the individual weight of companies within the ETF to a maximum of 25%.
There have been changes in how institutions invest in the crypto sector, as far as the behavior is concerned. The last quarter of 2017 was all about retail investors, but the 2021 cycle brought in the institutions.
However, these institutions indirectly invested through crypto-related companies like FTX and Coinbase. 2024 outlines a distinct transformation; institutions are starting to view and invest in Bitcoin directly, not through proxies.
Analysts emphasize that firms meeting ETF criteria demonstrate high transparency and financial discipline. BlackRock CEO Larry Fink has also shifted his dislike for digital assets to proclaiming Bitcoin as Gold in digital form, which further confirms that traditionalists now believe in the efficacy of digital currencies as assets.
Сообщение Bitwise Plans A Bitcoin ETF That Tracks Top Firms появились сначала на КриптоВики.
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