Bitwise Asset Management has launched a new ETF aimed at companies with substantial Bitcoin reserves.
New ETF from Bitwise
Bitwise launched the Bitwise Bitcoin Standard Corporations ETF (OWNB) on March 11. The fund will trade on NYSE Arca with an expense ratio of 0.85%. OWNB tracks an index comprising companies holding at least 1,000 Bitcoin.
Major Bitcoin Holders
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, and Galaxy Digital.
Fund Details and Index
The fund does not invest directly in Bitcoin or derivatives. Instead, it provides indirect access to the cryptocurrency market by holding equities of firms that have incorporated Bitcoin into their balance sheets. The index is rebalanced quarterly according to the volume of BTC held by the companies.
The launch of OWNB reflects the trend of companies diversifying into Bitcoin, driven by interest in cryptocurrencies as a corporate asset.
