Bitwise Files for Bitcoin Standard Corporations ETF
Asset management company Bitwise There are plans to launch a new ETF called the “Bitcoin Standard Companies ETF.”
In addition, Strive, an asset management company co-founded by Vivek Ramaswamy, has also applied for a new ETF called the Bitcoin Bond ETF.
The growing trend of corporate adoption of Bitcoin vaults
On December 27, asset management company Bitwise Registration submitted Partnering with the U.S. Securities and Exchange Commission (SEC) to launch new ETF Named “Bitcoin Standard Company ETF”. The fund will invest in companies that hold large amounts of Bitcoin as part of their financial reserves.
According to documents submitted to the General Administration U.S. Securities and Exchange CommissionBitwise will manage and own the index, called Bitwise Index Services. The new ETF will invest in the securities of companies included in the index.
Bitwise also sets specific criteria for companies in the index. In addition to requiring these companies to hold at least 1,000 Bitcoins, Bitwise also takes into account other financial conditions, including:
- Minimum market capitalization is $100 million.
- Average daily liquidity is at least US$1 million.
- Publicly traded free float is less than 10%.
Bitwise’s move comes amid a growing trend Bitcoin Vault Operations between enterprises.
According to data from BitcoinTreasuries, public companies account for 49% (73 out of 149) of all entities currently holding Bitcoin. Moreover, the amount of BTC held by listed companies has surged by 60% in the past two months alone. As of now, these companies hold a total of 587,687 BTC, accounting for 20% of the total Bitcoin held by all entities.
Recently, many companies not related to cryptocurrencies have also joined the race to accumulate Bitcoin. For example, companies such as rumbleAnixa Biosciences, Interactive Strength, Hoth Therapeutics, Nano Labs, Solidion Technology and Cosmos Health (which has interests in biotechnology, pharmaceuticals, sports, cloud services and video sharing, etc.) also announced purchases of Bitcoin. Shares of these companies rose immediately after the news was announced.
Nate Geraci, president of ETF Store, said: “The Bitcoin money manipulation virus is spreading.” commented.
In addition, Strive, an asset management company co-founded by Vivek Ramaswamy, Already applied for Bitcoin Bond ETF. The ETF is expected to invest in convertible bonds issued by companies that Strive predicts will use most or all of the funds raised from those bonds to purchase Bitcoin, known as “Bitcoin Bonds.”
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