The Bitwise Bitcoin Standard Corporations ETF would invest in businesses that \u201chold at least 1,000 Bitcoin\u201d
\nCompanies need to have a market capitalization of at least $100 million to be included in Bitwise\u2019s proposed ETF
\nKULR Technology Group started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million<\/p>\n
Bitwise has filed a proposal with US regulators to launch a new exchange-traded fund (ETF) to invest in publicly traded companies that hold substantial Bitcoin reserves.<\/p>\n
Under the Bitwise<\/a> Bitcoin Standard Corporations ETF, the ETF issuer would invest in businesses that \u201chold at least 1,000 Bitcoin in its corporate treasury,\u201d according to a December 26 filing<\/a> with the US Securities and Exchange Commission (SEC).<\/p>\n To further qualify to be included in the ETF, companies need to have a market capitalization of at least $100 million, an average daily liquidity of $1 million or more, and a public free float of less than 10%.<\/p>\n The proposed ETF from Bitwise would assign stock weight based on the market value of a company\u2019s Bitcoin holdings, ensuring this is capped at 25%.<\/p>\n The news comes as Bitcoin<\/a> has experienced a rise in value following the US election win of President-elect Donald Trump<\/a>. At its peak, Bitcoin reached a new all-time high above $107,000<\/a> earlier this month. In a client memo in November, Bitwise\u2019s CIO Matt Hougan said the US election was either going to be a \u201cspeed bump\u201d or a \u201cwind gust\u201d<\/a> for the crypto market.<\/p>\n Significantly, in recent weeks, more companies have been buying Bitcoin to push up stock prices. On December 23, MicroStrategy<\/a> announced on X<\/a> that it now holds 444,262 Bitcoin after acquiring a further 5,262 Bitcoin for $561 million.<\/p>\n In other related news, KULR Technology Group announced<\/a> on December 26 that it had started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million.<\/p>\n KULR Technology Group, Inc. ( $KULR<\/a> ) begins its Bitcoin Treasury strategy with the purchase of 217.18 $BTC<\/a> for $21M, averaging $96,556 per BTC.<\/p>\n Using $COIN<\/a> \u2019s Prime platform for custody and wallets, KULR is allocating up to 90% of surplus cash to BTC.https:\/\/t.co\/GClCvKTjUH<\/a> pic.twitter.com\/DFqAxDm0vS<\/a><\/p>\n \u2014 KULR Technology (@KULRTech) December 26, 2024<\/a><\/p>\n\n The post Bitwise files new ETF targeting firms with large Bitcoin holdings<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The Bitwise Bitcoin Standard Corporations ETF would invest in businesses that \u201chold at least 1,000 Bitcoin\u201d Companies need to have a market capitalization of at least $100 million to be included in Bitwise\u2019s proposed ETF KULR Technology Group started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million Bitwise has filed […]<\/p>\n","protected":false},"author":0,"featured_media":2141,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2140","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=2140"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/2140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/2141"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=2140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=2140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=2140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Reaching new heights<\/h2>\n