Bitwise Invest Launches Bitcoin Standard Corporations ETF
Bitwise Invest has officially introduced the Bitwise Bitcoin Standard Corporations ETF, abbreviated as OWNB. This innovative exchange-traded fund is meticulously designed to track the performance of publicly traded companies that maintain a minimum reserve of 1,000 bitcoin (BTC) on their balance sheets.
The ETF is governed by a set of specific rules: eligible companies must possess at least 1,000 BTC, with their holdings weighted according to the total amount of bitcoin they own. Notably, the largest holding within the fund is limited to a cap of 20%, while companies that allocate less than 33% of their total assets to bitcoin are assigned a fixed weight of 1.5%. Furthermore, the index is subject to rebalancing every quarter to reflect any changes in these holdings.
As of the end of 2024, Bitwise reported that publicly traded companies collectively held an impressive total of 591,817 BTC. The ETF will be available for trading on NYSE Arca and features a competitive expense ratio of 0.85%. In their research, Bitwise has identified a total of 70 public companies currently holding bitcoin as part of their financial strategy.
The fund’s top three holdings showcase a diverse mix of companies, including Strategy at 20.87%, MARA Holdings at 12.12%, and CleanSpark at 6.26%. This reflects a strategic investment approach aimed at leveraging the growing prominence of bitcoin within corporate finance.
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