Bitwise has introduced a new ETF providing exposure to companies with significant Bitcoin holdings.
Bitwise ETF Launch
Bitwise launched a new ETF called the Bitwise Bitcoin Standard Corporations ETF (OWNB) on March 11. The fund will be traded on NYSE Arca with an expense ratio of 0.85%. ONWB tracks the Bitwise Bitcoin Standard Corporations Index, which includes companies holding at least 1,000 Bitcoins in their corporate treasuries.
Public Companies with Major Bitcoin Holdings
Bitwise stated that as of the end of 2024, public companies collectively held 591,817 BTC. The ETF's top three holdings are MicroStrategy (20.87%), MARA Holdings (12.12%), and CleanSpark (6.26%). Other key firms in the index include Riot Platforms, Boyaa Interactive, Metaplanet, among others.
Trends in Corporate Investment
The launch of ONWB reflects a broader trend of corporations diversifying their assets into Bitcoin, driven by the digital assets' appeal amidst low-yield cash alternatives. Bitwise has identified 70 publicly traded companies that currently hold Bitcoin, reinforcing the increasing interest in cryptocurrency as a corporate asset.
The new ETF from Bitwise marks another step in the integration of cryptocurrencies into corporate finance, showcasing their role in modernizing contemporary investment strategies.
