Bitwise Files to Launch Bitcoin Standard ETF That Will Weight Holdings Based on BTC Stash

iled to launch a new exchange-traded fund (ETF) that will hold stocks of publicly traded companies that have at least 1,000 Bitcoin (BTC) on their balance sheets.

A new exchange-traded fund (ETF) from Bitwise has filed to launch, aiming to hold stocks of publicly traded companies that have a minimum of 1,000 Bitcoin (BTC) on their balance sheets.

The Bitwise Bitcoin Standard Corporation ETF will invest in companies that have adopted the “Bitcoin standard,” according to a Dec. 26 regulatory filing. To be included in the ETF, companies will also need to have a minimum average daily liquidity of at least $1 million and a public free float less than 10%. They will also need to have a market capitalization of at least $100 million.

The Bitwise Bitcoin Standard Corporation ETF will weight stock holdings based on the dollar value of each company’s BTC holdings, rather than using each company’s market capitalization as a factor in the weighting.

For instance, Tesla, with a market cap of $1.42 trillion and 9,720 BTC in its reserves, will have a lower weighting in the proposed Bitwise fund than MicroStrategy, which has a capitalization of $83.5 billion and holds 444,262 Bitcoins.

US spot Bitcoin ETFs broke their outflow streak on Dec. 26, with investors pouring $475.2 million into the funds, according to Farside Investors data. From Dec. 19 to Dec. 24, the funds suffered net daily outflows.

The most capital was pulled out of the funds on Dec. 19, with $671.9 million exiting the investment products collectively on the day. The funds then recorded no new flows on Dec. 25.

Bitcoin ETF Flow (USD million) - 2024-12-26

TOTAL NET FLOW: 475.2

IBIT: 56.5

FBTC: 254.4

BITB: -8.3

ARKB: 186.9

BTCO: 0

EZBC: 0

BRRR: 0

HODL: 2.7

BTCW: 0

GBTC: -24.2

BTC: 7.2

For all the data & disclaimers visit:

https://t.co/Wg6Qpn0Pqw

— Farside Investors (@FarsideUK) December 27, 2024

The trend changed on Dec. 26, with a new round of inflows into the funds. Notably, Fidelity’s FBTC led in net inflows after $254.4 million re-entered its reserves.

Meanwhile, Bitwise’s BITB and Grayscale’s GBTC continued to bleed with $8.3 million and $24.2 million outflows, respectively.