#BitwiseBitcoinETF

Bitwise proposes ETF to invest in companies holding 1,000 or more bitcoins

Bitwise has proposed a new ETF focused on listed companies holding at least 1,000 bitcoins in their vaults.

The fund targets companies with a market cap of $100 million or more and daily trading liquidity of more than $1 million.

The weighting of shares will be based on the value of bitcoin held by the companies, with a 25% cap for each company to ensure diversification.

Eligible companies include:

Tesla, MicroStrategy, and mining companies such as Marathon Digital and Riot.

As Bitcoin has surged 126% over the past year, more companies are adopting a strategy of holding Bitcoin to boost their stock value, such as KULR Technology Group, which has invested $21 million in Bitcoin, and Matador Technologies, which plans to invest $4.5 million by the end of 2024.