- The Bitwise Bitcoin Standard Corporations ETF would put money into companies that “hold at least 1,000 Bitcoin”
- Companies have to have a market capitalization of a minimum of $100 million to be included in Bitwise’s proposed ETF
- KULR Technology Group began its Bitcoin Treasury technique with the acquisition of 217.18 Bitcoin for $21 million
Bitwise has filed a proposal with US regulators to launch a new exchange-traded fund (ETF) to put money into publicly traded corporations that maintain substantial Bitcoin reserves.
Under the Bitwise Bitcoin Standard Corporations ETF, the ETF issuer would put money into companies that “hold at least 1,000 Bitcoin in its corporate treasury,” in keeping with a December 26 filing with the US Securities and Exchange Commission (SEC).
To additional qualify to be included within the ETF, corporations have to have a market capitalization of a minimum of $100 million, a mean day by day liquidity of $1 million or extra, and a public free float of lower than 10%.
The proposed ETF from Bitwise would assign inventory weight primarily based in the marketplace worth of an organization’s Bitcoin holdings, guaranteeing that is capped at 25%.
Reaching new heights
The information comes as Bitcoin has skilled an increase in worth following the US election win of President-elect Donald Trump. At its peak, Bitcoin reached a new all-time high above $107,000 earlier this month. In a consumer memo in November, Bitwise’s CIO Matt Hougan stated the US election was both going to be a “speed bump” or a “wind gust” for the crypto market.
Significantly, in latest weeks, extra corporations have been shopping for Bitcoin to push up inventory costs. On December 23, MicroStrategy introduced on X that it now holds 444,262 Bitcoin after buying an extra 5,262 Bitcoin for $561 million.
In different associated information, KULR Technology Group announced on December 26 that it had began its Bitcoin Treasury technique with the acquisition of 217.18 Bitcoin for $21 million.
KULR Technology Group, Inc. ( $KULR ) begins its Bitcoin Treasury technique with the acquisition of 217.18 $BTC for $21M, averaging $96,556 per BTC.
Using $COIN ’s Prime platform for custody and wallets, KULR is allocating as much as 90% of surplus money to BTC.https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS
— KULR Technology (@KULRTech) December 26, 2024
