Bitwise has filed for an ETF aimed at investing in publicly traded firms that hold a minimum of 1,000 Bitcoin in their corporate treasuries. Named the Bitwise Bitcoin Standard Corporations ETF, this fund targets companies that have embraced the 'Bitcoin standard' and meet specific criteria, including a market capitalization of at least $100 million and a minimum average daily liquidity of $1 million. Notably, holdings will not be weighted based on market capitalization but rather on the value of their Bitcoin assets, with a maximum weight cap of 25%. This means companies like MicroStrategy, which holds a significantly larger Bitcoin treasury than Tesla, would have a greater weight in the ETF despite a lower overall market cap. This filing coincides with a growing trend of public companies investing in Bitcoin, driven in part by the cryptocurrency's substantial gains in value over the past year, highlighted by a single month peak of around $108,000. Recent entrants into this space, such as KULR Technology Group, reflect the broader institutional interest in Bitcoin as a financial asset.

Source 🔗