$BTC

#TheBitcoinAct Bitwise Launches Bitcoin Standard Corporations ETF

AI Summary

According to PANews, Bitwise Invest has introduced the Bitwise Bitcoin Standard Corporations ETF (OWNB), designed to track publicly traded companies that own at least 1000 bitcoins. The index adheres to certain criteria: companies must hold a minimum of 1000 BTC, with assets weighted according to the number of bitcoins. The maximum holding limit is set at 20%, while companies whose bitcoin assets account for less than 33% of their total assets are weighted at 1.5%. The index is rebalanced quarterly.

Bitwise reports that by the end of 2024, publicly traded companies collectively held 591,817 BTC. The ETF will trade on the Arca platform of the New York Stock Exchange with a fee rate of 0.85%. Bitwise has identified 70 companies that currently hold bitcoins on their balance sheets. The top three holdings of the ETF include Strategy with 20.87%, MARA Holdings with 12.12%, and CleanSpark with 6.26%.