Bitwise Launches Bitcoin ETF Tracking Companies Holding Cryptocurrency

Bitwise Asset Management has introduced the Bitwise Bitcoin Standard Corporations ETF (OWNB), a groundbreaking investment vehicle designed to provide exposure to Bitcoin through publicly traded companies that hold significant amounts of the cryptocurrency in their corporate treasuries. Unlike traditional spot Bitcoin ETFs, which directly hold the cryptocurrency, OWNB invests in shares of companies that have substantial Bitcoin holdings, offering a novel approach to gaining exposure to the digital asset.

The ETF tracks the Bitwise Bitcoin Standard Corporations Index, which includes firms that own 1,000 or more Bitcoin. This index is cap-weighted according to the number of Bitcoin held by each company, with a maximum holding of 20% for any single company at each rebalance. Additionally, companies whose Bitcoin stakes are less than 33% of their overall assets receive a fixed weighting of 1.5%, ensuring that smaller players are included and demonstrating a commitment to Bitcoin.

Matt Hougan, Bitwise’s Chief Investment Officer, highlighted the growing trend of companies treating Bitcoin as an asset reserve, similar to how individuals view it. He emphasized Bitcoin’s attributes as a scarce, liquid asset not subject to government control, making it an attractive option for corporate treasuries. The ETF’s holdings reflect this trend, with major positions in companies known for their aggressive Bitcoin accumulation strategies, such as Strategy (MSTR), and Bitcoin-mining companies like MARA Holdings (MARA), CleanSpark (CLSK), and Riot Platforms (RIOT). Other notable holdings include tech companies like Boyaa Interactive and digital asset-focused firms such as Galaxy Digital (GLXY CN).

The launch of OWNB addresses a growing market demand for investment vehicles that offer exposure to Bitcoin without the complexities of directly managing digital assets. This reflects the increasing acceptance of Bitcoin as a legitimate asset class and the growing number of companies adopting it into their financial strategies. For investors seeking to participate in the digital asset revolution without holding Bitcoin directly, the Bitwise ETF provides a new and potentially lucrative path by investing in companies that are actively integrating Bitcoin into their financial strategies.