Bitwise Asset Management has launched the Bitwise Bitcoin Standard Corporations ETF, trading under the ticker OWNB.
The exchange-traded fund is designed to expose investors to companies holding significant Bitcoin reserves as part of their corporate treasury strategies.
He added that the approval was seen as a deviation from the SEC’s usual stance, indicating a potential shift influenced by political pressures.
According to Bitwise, the ETF aims to capitalize on the growing trend in which companies allocate some of their cash reserves to Bitcoin.
“Companies perceive Bitcoin as a strategic reserve asset that’s liquid and scarce—and not subject to the whims or money printing of any government. We think companies are only getting started here, and this ETF gives investors exposure to innovative firms at the forefront of this trend,” Hougan said.
Hougan noted that companies are increasingly considering Bitcoin as an alternative store of value, independent of government monetary policies.
Horsley also emphasized that the ETF allows investors to gain diversified exposure to companies that have embraced Bitcoin as part of their financial strategies.
He said that businesses are acquiring Bitcoin for the same reasons as individual investors, viewing it as a hedge against monetary instability.
Bitwise CEO Hunter Horsley highlighted that more than 70 companies now hold Bitcoin in their corporate treasuries, following the example set by firms such as Strategy.
Bitcoin mining firm MARA Holdings accounted for 12.12%, while CleanSpark and Riot Platforms, both mining-focused companies, represented 6.26% and 6.23%, respectively.
At launch, Strategy held the largest allocation in the index at 20.87%.
Norwegian industrial investment firm Aker ASA held 4.63%, while Bitcoin mining firms Bitfarms and BitFuFu had 4.30% and 4.03%, respectively.
The firm reported that as of the third quarter of 2024, U.S. nonfinancial corporations collectively held over $4.5 trillion in cash and deposits and nearly $1 trillion in U.S. Treasuries.
The index also includes companies outside the U.S., with China-based Boyaa Interactive at 5.75% and Japan’s Metaplanet at 5.25%.