Bitwise Bitcoin Standard Corporations ETF invests in companies that “hold at least 1,000 Bitcoins” Companies must have a market capitalization of at least $100 million to be included in Bitwise’s proposed ETF KULR Technology Group has purchased 217.18 Bitcoins Start your Bitcoin financial strategy with $21 million in Bitcoin
Bitwise has submitted a proposal to U.S. regulators to launch a new exchange-traded fund (ETF) to invest in publicly traded companies with large Bitcoin reserves.
Under the Bitwise Bitcoin Standard Corporation ETF, the ETF issuer “holds at least 1,000 Bitcoins in its treasury,” according to a Dec. 26 filing with the U.S. Securities and Exchange Commission (SEC). You will be investing in a company.
To be eligible for further inclusion in the ETF, companies must have a market capitalization of at least $100 million, average daily liquidity of at least $1 million, and a public float of less than 10%.
Bitwise's proposed ETF would allocate stock weights based on the market value of a company's Bitcoin holdings, capped at 25%.
Reaching new heights
The news comes as Bitcoin's value rises following President-elect Donald Trump's victory in the US election. Bitcoin reached an all-time high of more than $107,000 earlier this month. Bitwise CIO Matt Hogan said in a client note in November that the US election would be either a “speed bump” or a “gust of wind” for the crypto market.
Notably, more and more companies have been buying Bitcoin in recent weeks to boost their stock prices. On December 23, MicroStrategy announced on X that it had acquired an additional 5,262 Bitcoins for $561 million, and now holds 444,262 Bitcoins.
In other related news, KULR Technology Group announced on December 26th that it has launched a Bitcoin financial strategy to purchase 217.18 Bitcoins for $21 million.
KULR Technology Group, Inc. ( $KULR ) bought 217.18 $BTC for $21 million to start the Bitcoin Treasury strategy at an average price of $96,556 per BTC.
Using $COIN's Prime platform for storage and wallet, KULR allocates up to 90% of its surplus cash to BTC. https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS
— KULR Technology (@KULRTech) December 26, 2024
