Bitwise has expanded its Bitcoin Standard Corporations Index by incorporating Fold Holdings and Bitdeer Technologies, bringing the total membership to 22.
What is the OWNB Index All About?
Bitwise introduced an index fund focusing on companies that use Bitcoin as a treasury asset. The fund allows investments in companies indirectly holding BTC through futures contracts.
How Do Companies Benefit from Bitcoin Holdings?
Since the index's inception in 2020, a competitive landscape has emerged among publicly traded firms incorporating Bitcoin into their balance sheets. This strategy not only strengthens reserves but also increases stock demand and scarcity of cryptocurrency.
Composition and Distribution of the Index
The index features notable entities like Strategy and Bitcoin mining companies including MARA Holdings and Riot Platform. Strategy holds the leading position with a weighting of 22.64%, followed by Riot and MARA at approximately 10%. Japan-based Metaplanet holds a 5% share, showcasing the index's structure. Bitwise employs a unique weighting system based on Bitcoin holdings relative to market value, applying a 1.5% scale.
Bitwise's latest moves reflect an innovative strategy for examining corporate Bitcoin holdings, which could significantly impact market assessments as regulations evolve.
