Bitwise Expands Bitcoin Index, Adds Fold Holdings and Bitdeer Technologies
2min read Bitwise has expanded its Bitcoin Standard Corporations Index (OWNB) by adding fold holdings and bitdeer Technologies. These companies now join microstrategy, tesla, and other firms already included in the index, bringing the total number of companies to 22, with a combined Bitcoin holding of over 648,000. This development was announced on X earlier today, just two weeks after the OWNB Index Fund was launched. The fund focuses on companies that hold Bitcoin as treasury assets in their balance sheets, providing indirect exposure to Bitcoin through derivatives referencing BTC.
The bitwise Standard Corporations ETF is one of the first in its niche, automatically assigning a 1.5% weighting to corporations with BTC holdings over 1,000 but less than 33% of their proprietary assets. The top ten companies in the index include MicroStrategy, Bitcoin mining firms MARA Holdings and Riot Platform, Tesla, Cleanspark, Hut 8, Block Inc, Coinbase Exchange, Boyaa Interactive, and Metaplanet. Each of these companies holds a minimum of 1,000 BTC in its treasury. MicroStrategy's holding of 506,137 BTC, worth over $42 billion, gives it the highest weight in the index at 22.64%. Tesla holds 11,509 BTC, Coinbase holds 6,885 BTC, and Cipher Mining has a minimum holding of 1.032 BTC. The collective Bitcoin holding of these companies represents 3.2% of the total supply of Bitcoin in the crypto market.
Bitwise's move to include Fold Holdings and Bitdeer Technologies in the OWNB Index Fund underscores the growing interest in Bitcoin as a treasury asset among corporations. The inclusion of these companies in the index reflects their significant Bitcoin holdings and their strategic decision to hold Bitcoin as part of their treasury management. This development is part of a broader trend in the crypto industry, where more companies are recognizing the value of Bitcoin as a store of value and a hedge against inflation. The addition of these companies to the index is likely to attract more investors to the OWNB Index Fund, as it provides exposure to a diversified portfolio of companies with significant Bitcoin holdings.
The broader crypto industry has seen a wave of ETFs, driven by the pro-crypto stance of the administration. Bitwise, along with other asset managers, has consistently filed S-1 registration for crypto-based ETFs. In early March, Bitwise submitted an S-1 filing with the U.S. Securities and Exchange Commission (SEC) for a new ETF focused on Aptos (APT). Similarly, CBOE filed an S-1 registration statement on behalf of Fidelity Investments to list a Solana ETF. The SEC has acknowledged some of the filings for crypto ETFs in the past, suggesting a possible tilt toward approval. This regulatory environment is conducive to the growth of crypto ETFs, which provide investors with a convenient and regulated way to gain exposure to the crypto market.
Ask Aime: What is the impact of Bitwise's expansion of the Bitcoin Standard Corporations Index?
