- The Bitwise Bitcoin Commonplace Firms ETF would put money into corporations that “maintain a minimum of 1,000 bitcoins”
- Firms will need to have a market capitalization of a minimum of $100 million to be included within the proposed Bitwise ETF
- KULR Expertise Group launched its Bitcoin Treasury technique by shopping for 217.18 Bitcoin for $21 million
Bitwise has filed a proposal with US regulators to launch a brand new exchange-traded fund (ETF) that may put money into publicly traded corporations that maintain vital reserves of bitcoin.
Below the Bitwise Bitcoin Commonplace Firms ETF, the ETF issuer would put money into companies that “maintain a minimum of 1,000 bitcoins of their company treasury,” in accordance with a Dec. 26 submitting with the U.S. Securities and Change Fee (SEC).
To additional qualify for ETF inclusion, corporations will need to have a market capitalization of a minimum of $100 million, common each day liquidity of $1 million or extra, and public free buying and selling of lower than 10%.
Bitwise's proposed ETF would assign weight to shares based mostly in the marketplace worth of the bitcoins the corporate holds, with a cap of 25%.
Reaching new heights
The information comes as Bitcoin has seen a surge in worth following President-elect Donald Trump's victory within the US election. At its peak, Bitcoin hit a brand new all-time excessive above $107,000 earlier this month. In a November be aware to purchasers, Bitwise CIO Matt Hougan mentioned the US election will both be an “acceleration” or a “gust of wind” for the crypto market.
Considerably, extra corporations have been shopping for bitcoin in latest weeks to push share costs greater. On December 23, MicroStrategy introduced on X that it now holds 444,262 bitcoins after buying an extra 5,262 bitcoins for $561 million.
In different associated information, KULR Expertise Group introduced on December 26 that it had launched its Bitcoin Treasury technique by shopping for 217.18 Bitcoin for $21 million.
KULR Expertise Group, Inc. ( $KULR ) begins his Bitcoin Treasury technique by shopping for 217.18 $BTC for $21 million, a median of $96,556 per BTC.
Use COINS $ KULR, a serious escrow and pockets platform, allocates as much as 90% of extra BTC money. https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS
— KULR Expertise (@KULRTech) December 26, 2024
