Grayscale launches Grayscale Bitcoin Adopters ETF

Grayscale, the world’s largest crypto-focused manager, announced the launch of its new exchange-traded product, the Grayscale Bitcoin Adopters ETF (BCOR). The firm said the ETF will offer investors exposure to companies that have adopted BTC as a treasury reserve asset.

The company said BCOR will offer investors exposure to firms that have adopted digital assets as a treasury reserve asset.

“BCOR will offer investors exposure to a select group of companies that have made the strategic decision to add Bitcoin to their treasury reserves,” the crypto asset manager said.

The firm explained that the ETF will be focused on the long-term growth of the corporate adoption of Bitcoin as a hedge against fiat inflation. Grayscale also said the ETF will be used as a tool for corporate treasury diversification and risk management.

“We are also grateful to Indxx for working with us to create the underlying index, which is designed to comprehensively measure the performance of companies that have made significant commitments to Bitcoin at the corporate treasury level.”

The crypto asset manager noted that BCOR will focus on companies with a minimum of 100 BTC. Grayscale acknowledged that the exchange-traded fund deploys a weighting scheme that considers company size and prioritizes companies outside the Bitcoin mining ecosystem.

The firm said the fund will specifically invest in companies that comprise the Indxx Bitcoin Adopters Index, a proprietary index designed to gauge the performance of companies that have adopted BTC as an asset for corporate treasury management.

Grayscale acknowledged that BCOR delivers diversified global equity exposure to companies across seven sectors and 15 industries, all united by a Bitcoin adoption. The firm argued that although digital assets challenge traditional assets norms with their volatility, companies also view them as a potential hedge against inflation and a tool for treasury diversification.

“We couldn’t be more excited to launch Grayscale Bitcoin Adopters ETF, which offers investors a new way to tap into the rising trend of corporate Bitcoin treasury adoption without needing to hold Bitcoin directly.”

-David LaValle, Global Head of ETFs at Grayscale.

Lavalle also highlighted that BCOR will provide a forward-looking strategy to capture the momentum of companies integrating virtual assets through traditional equity markets. He sees the new ETF as an exciting opportunity for those who believe in Bitcoin’s long-term potential.

The Grayscale Bitcoin Adopters ETF’s net asset value per share is at $25.31 as of April 30. The firm also said the exchange-traded fund will have a semi-annual distribution frequency. The ETF will also trade on the New York Stock Exchange under the index ticker IBADIN.

According to the digital asset manager, the ETF had roughly $1,012,425 in assets under management at the time of publication. The exchange-traded product also has 40,001 outstanding shares.