#BitwiseBitcoinETF Bitwise, an exchange-traded fund (ETF) issuer, has proposed to introduce a new fund designed to invest in publicly traded companies with substantial Bitcoin holdings.

The Bitwise Bitcoin Standard Corporations ETF would invest in companies "that have adopted the 'Bitcoin standard'" and hold at least 1,000 Bitcoin

Bitcoin

tickers below

$94,366

in their corporate treasuries, according to a regulatory filing from December 26.

Companies that own Bitcoin must have a market capitalization of at least $100 million, an average daily liquidity of at least $1 million, and a public float of less than 10% to be included in the ETF.

Unlike other ETFs, which typically weight holdings based on the company's market capitalization, the Bitwise fund would weight its holdings based on the market value of the company's Bitcoin treasury bonds, with a maximum weight of 25%.

This would mean, for example, that Tesla, with its market capitalization of $1.42 trillion, would have less weighting in the Bitwise ETF than MicroStrategy, with its market capitalization of $83.5 billion, because Tesla owns 9,720 BTC compared to MicroStrategy's 444,262 BTC.