Bitwise Files for Bitcoin ETF Tracking Companies Holding BTC Reserves

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Bitwise Asset Management has applied for approval from regulators to introduce a new ETF that targets publicly traded companies with significant holdings of Bitcoin.

The proposed Bitwise Bitcoin Standard Corporations ETF will concentrate on companies that possess at least 1,000 BTC in their corporate treasury.

The filing, which was submitted on December 26, outlines the eligibility requirements for companies to be included in the ETF. These requirements include a minimum market capitalization of $100 million, an average daily liquidity of $1 million or more, and a public float of at least 10%.

The Bitwise Bitcoin Standard Corporations ETF will prioritize the value of a company’s Bitcoin holdings when determining the weight of each stock in the fund.

However, in order to maintain diversification, no single stock will make up more than 25% of the ETF’s total weight. This filing comes at a time when an increasing number of public companies are turning to Bitcoin as a means to increase their stock value.