- The Bitwise Bitcoin Commonplace Companies ETF would spend money on companies that “maintain no less than 1,000 Bitcoin”
- Firms must have a market capitalization of no less than $100 million to be included in Bitwise’s proposed ETF
- KULR Expertise 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 brand new exchange-traded fund (ETF) to spend money on publicly traded firms that maintain substantial Bitcoin reserves.
Underneath the Bitwise Bitcoin Commonplace Companies ETF, the ETF issuer would spend money on companies that “maintain no less than 1,000 Bitcoin in its company treasury,” based on a December 26 filing with the US Securities and Change Fee (SEC).
To additional qualify to be included within the ETF, firms must have a market capitalization of no less than $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 based mostly in the marketplace worth of an organization’s Bitcoin holdings, making certain 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.
Considerably, in current weeks, extra firms 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 additional 5,262 Bitcoin for $561 million.
In different associated information, KULR Expertise Group announced on December 26 that it had began its Bitcoin Treasury technique with the acquisition of 217.18 Bitcoin for $21 million.
KULR Expertise Group, Inc. ( $KULR ) begins its Bitcoin Treasury technique with the acquisition of 217.18 $BTC for $21M, averaging $96,556 per BTC.
Utilizing $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 Expertise (@KULRTech) December 26, 2024