Bitwise Files Application for an ETF Investing in Companies Holding Bitcoin
Digital asset management firm Bitwise has recently submitted a new registration statement to the US Securities and Exchange Commission (SEC) on December 26, 2024.
This filing seeks approval for the “Bitwise Bitcoin Standard ETF,” a fund that plans to invest in publicly traded companies with significant amounts of BTC on their balance sheets or a substantial portion of revenue coming from BTC-related activities.
According to the document, Bitwise believes that investing in equities of companies with substantial BTC-related business or assets can provide exposure to the performance of Bitcoin while addressing challenges like custody, regulatory constraints, and liquidity concerns.
The proposal includes a strict eligibility framework where only companies with at least 1,000 BTC in reserves and a market capitalization of no less than $100 million qualify for inclusion.
Additionally, these companies must have a daily trading liquidity of over $1 million and privately held stock of less than 10%.
