{"id":815525,"date":"2024-12-29T02:13:23","date_gmt":"2024-12-29T08:13:23","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/29\/bitwise-files-new-etf-targeting-firms-with-large-bitcoin-holdings\/"},"modified":"2024-12-29T02:13:23","modified_gmt":"2024-12-29T08:13:23","slug":"bitwise-files-new-etf-targeting-firms-with-large-bitcoin-holdings","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/29\/bitwise-files-new-etf-targeting-firms-with-large-bitcoin-holdings\/","title":{"rendered":"Bitwise files new ETF targeting firms with large Bitcoin holdings"},"content":{"rendered":"<div data-site=\"CoinJournal\">\n<div data-site=\"CoinJournal\">\n<picture><source  type=\"image\/webp\" media=\"(min-width: 750px)\"><source  type=\"image\/webp\"><source  type=\"image\/jpeg\" media=\"(min-width: 750px)\"><source  type=\"image\/jpeg\"><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2022\/11\/SEC_Bitwise_USA_BTC_Ablehnung.jpg\" alt width=\"100%\" height=\"100%\">\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">The Bitwise Bitcoin Standard Corporations ETF would invest in businesses that \u201chold at least 1,000 Bitcoin\u201d<\/li>\n<li aria-level=\"1\">Companies need to have a market capitalization of at least $100 million to be included in Bitwise\u2019s proposed ETF<\/li>\n<li aria-level=\"1\">KULR Technology Group started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million<\/li>\n<\/ul>\n<p>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<p>Under the <a href=\"https:\/\/coinjournal.net\/search\/bitwise\">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 <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1928561\/000121390024112714\/ea0225863-02_485apos.htm\" target=\"_blank\" rel=\"noopener\">filing<\/a> with the US Securities and Exchange Commission (SEC).<\/p>\n<p>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<p>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<h2>Reaching new heights<\/h2>\n<p>The news comes as <a href=\"https:\/\/coinjournal.net\/search\/bitcoin\">Bitcoin<\/a> has experienced a rise in value following the US election win of President-elect <a href=\"https:\/\/coinjournal.net\/search\/donald+trump\">Donald Trump<\/a>. At its peak, Bitcoin reached a <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-holds-above-107-despite-172m-mt-gox-btc-transfer\/\">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 <a href=\"https:\/\/coinjournal.net\/news\/bitwise-cio-us-election-is-going-to-be-a-speed-bump-or-wind-gust-for-crypto\/\">\u201cspeed bump\u201d or a \u201cwind gust\u201d<\/a> for the crypto market.<\/p>\n<p>Significantly, in recent weeks, more companies have been buying Bitcoin to push up stock prices. On December 23, <a href=\"https:\/\/coinjournal.net\/search\/MicroStrategy\">MicroStrategy<\/a> announced on <a href=\"https:\/\/x.com\/saylor\/status\/1871179886036910278\" target=\"_blank\" rel=\"noopener\">X<\/a> that it now holds 444,262 Bitcoin after acquiring a further 5,262 Bitcoin for $561 million.<\/p>\n<p>In other related news, KULR Technology Group <a href=\"https:\/\/x.com\/KULRTech\/status\/1872274178361229477\" target=\"_blank\" rel=\"noopener\">announced<\/a> on December 26 that it had started its Bitcoin Treasury strategy with the purchase of 217.18 Bitcoin for $21 million.<\/p>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">KULR Technology Group, Inc. ( <a href=\"https:\/\/twitter.com\/search?q=%24KULR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$KULR<\/a> ) begins its Bitcoin Treasury strategy with the purchase of 217.18 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> for $21M, averaging $96,556 per BTC.<\/p>\n<p>Using <a href=\"https:\/\/twitter.com\/search?q=%24COIN&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$COIN<\/a> \u2019s Prime platform for custody and wallets, KULR is allocating up to 90% of surplus cash to BTC.<a href=\"https:\/\/t.co\/GClCvKTjUH\">https:\/\/t.co\/GClCvKTjUH<\/a> <a href=\"https:\/\/t.co\/DFqAxDm0vS\">pic.twitter.com\/DFqAxDm0vS<\/a><\/p>\n<p>\u2014 KULR Technology (@KULRTech) <a href=\"https:\/\/twitter.com\/KULRTech\/status\/1872274178361229477?ref_src=twsrc%5Etfw\">December 26, 2024<\/a><\/p>\n<\/blockquote>\n<div>\n<hr>\n<h6>Share this article<\/h6>\n<hr>\n<h6>Categories<\/h6>\n<hr>\n<h6>Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitwise-files-new-etf-targeting-firms-with-large-bitcoin-holdings\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Rebecca Campbell<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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":1,"featured_media":815526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91696,1474],"tags":[],"class_list":{"0":"post-815525","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitwise","8":"category-files"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=815525"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/815526"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=815525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=815525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=815525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}