Grayscale Launches Bitcoin Adopters ETF (BCOR) to Track Companies Holding Bitcoin Treasuries

Grayscale, the world's largest crypto-native asset manager, has launched a new exchange-traded fund designed to track companies that are incorporating Bitcoin into their treasury holdings.

TLDR; Grayscale has launched an exchange-traded fund designed to track companies that are buying and holding Bitcoin. The Grayscale Bitcoin Adopters ETF (ticker: BCOR) was unveiled on Monday.

It provides investors with a way to gain exposure to the growing trend of corporate Bitcoin adoption.

The new ETF is based on the Indxx Bitcoin Adopters Index, which follows companies that have allocated a portion of their treasury reserves to Bitcoin. These companies, which are covered by seven different sectors and fifteen industries globally, are united by their Bitcoin treasury strategy.

This makes it a more diversified offering than competing products, such as the Bitwise Bitcoin Standard ETF, which focuses exclusively on firms with more than 1,000 BTC.

The launch of BCOR comes as corporate Bitcoin holdings continue to rise rapidly.

According to data from Bitwise, at least 96,000 Bitcoin were added to the treasuries of publicly listed companies in April alone. This brings the total to around 749,000 BTC. For some perspective, that is 3.57% of Bitcoin’s maximum supply of 21 million coins.

"As more companies integrate Bitcoin into their balance sheets, BCOR provides a forward-looking strategy to capture this momentum through traditional equity markets," said David LaValle, Grayscale's Global Head of ETFs.

Investors interested in learning more about the Grayscale Bitcoin Adopters ETF can find additional information on the company's website.

Grayscale notes that while the fund provides exposure to companies holding Bitcoin, it does not invest directly in digital assets or track cryptocurrency price movements.

The BCOR ETF is being distributed by Foreside Fund Services, LLC, and it is advised by Grayscale Advisors, LLC.

Potential investors are advised to carefully review the fund's prospectus and consider the investment objectives, risks, charges and expenses before investing.