Bitwise has introduced an exchange-traded fund (ETF) focused on companies with significant Bitcoin treasuries, named the Bitwise Bitcoin Standard Corporations ETF (OWNB). The ETF aims to replicate the Bitwise Bitcoin Standard Corporations Index, which includes firms holding at least 1,000 bitcoins. According to Bitwise’s chief investment officer, Matt Hougan, companies accumulate Bitcoin as a liquid and scarce strategic reserve asset, similar to individual investors. As of March 11, the ETF's largest holdings included MicroStrategy (MSTR) and various Bitcoin miners like Marathon Digital Holdings (MARA) and Riot Platforms (RIOT). The index is structured to weight holdings based on Bitcoin amounts, with the largest capped at 20%. The surge in Bitcoin prices in 2024 saw MicroStrategy's shares rise over 350%, compelling many corporations to follow suit in accumulating Bitcoin, with corporate holdings surpassing $54 billion on the same date. Other asset managers are also preparing to launch similar products to capitalize on this trend.

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