Breaking Down Barriers in Crypto Investing: Bitwise Files for Groundbreaking Bitcoin ETF !!!
Imagine a world where you can invest in the power of Bitcoin without directly buying the cryptocurrency. Sounds intriguing, right? Well, that world might just become a reality thanks to Bitwise, a pioneering exchange-traded fund (ETF) issuer. In a bold move, Bitwise has filed to launch a new fund that’s set to revolutionize the way we invest in Bitcoin.
What’s the Big Deal About This ETF?
The Bitwise Bitcoin Standard Corporations ETF is designed to hold stocks of publicly traded companies that have significant Bitcoin holdings on their books. But here’s the twist: these companies must have adopted the “Bitcoin standard” and hold at least 1,000 Bitcoin (BTC) in their corporate treasuries. To be eligible, they must also have a market capitalization of at least $100 million, a minimum average daily liquidity of at least $1 million, and a public free float of under 10%.
How Will This ETF Work?
Unlike traditional ETFs that give weight to stock holdings based on company market caps, Bitwise’s fund will assign weight to its holdings based on the market value of the firm’s Bitcoin treasuries. This means that companies with more significant Bitcoin holdings will have a greater weighting in the ETF, regardless of their market cap. For example, MicroStrategy, with its massive 444,262 BTC holdings, would have a higher weighting than Tesla, despite Tesla’s much larger market cap.
Why Now?
This move comes at a time when public companies are increasingly buying Bitcoin to boost their stock prices. With Bitcoin’s value surging 117% this year, it’s no wonder companies are eager to get in on the action. In fact, KULR Technology Group recently spent $21 million buying 217.18 Bitcoin, which saw its stock price soar to an all-time high.
What Does This Mean for Crypto Investors?
Bitwise’s ETF filing is a significant development in the world of crypto investing. It offers a new way for investors to tap into the power of Bitcoin without directly buying the cryptocurrency. This could be especially appealing to those who are hesitant to invest in Bitcoin directly but still want to benefit from its growth.
The Future of Crypto Investing
As the crypto market continues to evolve, we can expect to see more innovative investment products like Bitwise’s ETF. With the rise of “Bitcoin Bonds” and other crypto-related investment opportunities, it’s an exciting time for investors. But what do you think? Are you ready to invest in the power of Bitcoin through this new ETF? Share your thoughts in the comments below!
Key Takeaways:
* Bitwise has filed to launch a new ETF that holds stocks of publicly traded companies with significant Bitcoin holdings. * The ETF will assign weight to its holdings based on the market value of the firm’s Bitcoin treasuries. * This move comes as public companies increasingly buy Bitcoin to boost their stock prices. * The ETF offers a new way for investors to tap into the power of Bitcoin without directly buying the cryptocurrency.
Stay Ahead of the Curve:
Want to stay up-to-date on the latest crypto news and trends? Follow us for more insights and analysis on the world of cryptocurrency and blockchain.
Source: Cointelegraph.com
The post Bitwise Files for ETF Tracking Public Companies with Significant Bitcoin Holdings appeared first on CoinBuzzFeed.
