Bitwise proposes 'BTC Standard Company ETF', which can include MicroStrategy, mining companies, and gaming businesses

ETF issuer Bitwise has submitted the Bitwise Bitcoin Standard Corporations ETF to the US Securities and Exchange Commission (SEC). The fund is expected to be listed on NYSE Arca, with over 80% of its net assets invested in companies that adhere to the ‘BTC Standard’.

“BTC Standard” Stock Selection Strategy

The index is designed to invest in companies that adopt the “BTC Standard,” which refers to companies that hold BTC as corporate financial assets and meet the following criteria:

Hold at least 1,000 BTC.

Market cap of at least 100 million US dollars

Minimum average daily liquidity of at least 1 million US dollars

Circulation is less than 10%.

The index selects each eligible stock that meets the requirements of scale, liquidity, and free float. Then, based on specific diversification requirements, each selected stock is allocated a weight based on the market value of BTC it holds, with a maximum weight limit of 25%. Any excess weight will be redistributed to other constituent stocks with equal weights.

This index does not directly invest in Bitcoin or its derivatives, but holds common stocks or depositary receipts of companies meeting the above criteria. The fund is expected to be listed on NYSE Arca and invest over 80% of its net assets in stocks of companies adopting the “BTC standard”.

MicroStrategy, mining companies, gaming companies, etc. may all be listed

According to the data compiled by HODL15Capital, the list of companies holding more than 1,000 BTC currently includes 22 publicly traded companies such as MicroStrategy, Marathon Digital, Riot, Hut 8, as well as Tesla, Hong Kong online game retailer Boyaa, Japanese company Metaplanet, and South Korean game developer Nexon.

Strive Asset Management, an asset management company co-founded by Vivek Ramaswamy and Anson Frericks, has also submitted an application to the United States Securities and Exchange Commission (SEC) for the Strive BTC Bond ETF. This ETF will track convertible bonds issued for the purchase of BTC, essentially a microstrategy convertible bond ETF.

(Do you want to buy MicroStrategy convertible bonds? Strive launches BTC strategy convertible bond ETF)

This article Bitwise submits ‘BTC Standard Company ETF’, MicroStrategy, mining companies, and game developers can all be included first appeared on Chain News ABMedia.