KeyTakeaways:
Bitwise launches OWNB ETF to trace corporations holding 1,000+ BTC in company treasuries. ETF consists of companies like Technique, Riot Platforms, and Clear Spark with over 650,000 BTC. Bitwise expands ETF choices with Aptos and Dogecoin funds amid Bitcoin ETF outflows.
Bitwise has launched the Bitwise Commonplace Firms ETF, a brand new fund designed to show traders to corporations holding Bitcoin on their stability sheets. This ETF doesn’t immediately spend money on Bitcoin however tracks the efficiency of corporations that meet particular standards for Bitcoin holdings.
The fund’s ticker is OWNB, and it’s the first exchange-traded fund of its form permitted by the U.S. Securities and Trade Fee (SEC). The transfer comes amid a market downturn in Bitcoin costs, which have not too long ago fallen to $77,000.
The Bitwise OWNB ETF targets publicly traded corporations that maintain at the very least 1,000 Bitcoin of their company treasuries. This threshold, which is a benchmark within the crypto sector, ensures diversification. The holdings inside the ETF are weighted by the quantity of Bitcoin every firm holds, with a cap of 20% on the biggest particular person holding.
Moreover, any firm with BTC holdings over 1,000 however making up lower than 33% of the agency’s complete belongings will probably be mechanically assigned a 1.5% weight within the ETF. The fund will endure quarterly rebalancing to mirror adjustments in company Bitcoin holdings.
Firms to Be Included within the Index
A number of outstanding corporations that maintain Bitcoin reserves are anticipated to be a part of the OWNB ETF. These embody Technique, MARA Holdings, Clear Spark, Riot Platforms, and Boyaa Interactive.
Learn Additionally: MARA Holdings Loans 7,377 BTC in Strategic Yield Play Amid Trade Considerations
These companies collectively maintain over 650,000 BTC, marking Bitcoin’s place inside company stability sheets. Technique is reportedly seeking to safe an extra $21 billion to buy extra Bitcoin, whereas different corporations are additionally exploring the potential for including Bitcoin to their reserves.
Bitwise’s choice to launch the OWNB ETF comes when Bitcoin exchange-traded funds (ETFs) are experiencing outflows as investor enthusiasm for the cryptocurrency wanes. Regardless of this, Bitwise continues its push into the ETF area, having additionally filed an S-1 for an Aptos ETF. The corporate has partnered with Maple Finance to supply on-chain credit score and can be trying right into a Dogecoin ETF.
Learn Additionally: Bloomberg Analyst Earmarks Litecoin and Dogecoin because the Subsequent Crypto ETF Merchandise
Because the variety of corporations with Bitcoin on their stability sheets grows, the launch of Bitwise’s OWNB ETF permits traders to realize publicity to this rising pattern with out immediately holding the cryptocurrency.
