Bitwise Asset Management filed with the SEC to launch the Bitcoin Standard Corporations ETF, targeting public companies holding at least 1,000 Bitcoin in their corporate treasuries.
Bitwise Asset Management has filed with the U.S. Securities and Exchange Commission (SEC) to launch the Bitcoin Standard Corporations ETF.
The fund will focus on equity securities of firms that meet specific criteria, including a minimum market capitalization of $100 million, daily liquidity of at least $1 million, and a public float below 10%.
The proposed ETF will weight portfolio holdings based on companies’ Bitcoin holdings rather than market capitalization, with a 25% cap on individual constituents.
For example, MicroStrategy, which holds 444,262 Bitcoin, would have a larger allocation than Tesla, despite Tesla’s higher market cap.
The filing comes as Bitcoin has gained 117% this year, briefly surpassing $108,000 before settling near $95,500 at press time.
Corporate interest in Bitcoin has increased, as demonstrated by KULR Technology Group's recent $21 million Bitcoin purchase, which boosted its stock price by over 40%.
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