The post Bitwise Files for ETF Tracking Corporate Bitcoin Giants appeared first on Coinpedia Fintech News
Bitwise has filed for an Exchange-Traded Fund (ETF) that focuses on companies holding massive amounts of Bitcoin. The idea? To offer investors a way to gain exposure to firms embracing the “Bitcoin standard.” Curious what that means? Let’s break it down.
A Closer Look at Bitwise’s Plan
The proposed fund, called the Bitwise Bitcoin Standard Corporations ETF, is no ordinary ETF. To qualify for inclusion, companies must hold at least 1,000 Bitcoin in their reserves. That’s not all. They also need a market capitalization of at least $100 million, daily liquidity of $1 million, and less than 10% of their stock privately held.
Source : SEC Edgar
Here’s where it gets interesting: the ETF doesn’t weigh companies based on their market size, like most funds do. Instead, it focuses on the value of their Bitcoin holdings. MicroStrategy, which holds a whopping 444,26
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