Discover the Shocking Truth Behind Bitwise’s New ETF! 😲💰

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What to know:

  • In a move that could make even the most stoic investor raise an eyebrow, Bitwise has unveiled a new ETF (OWNB) that tracks publicly traded companies holding a staggering minimum of 1,000 Bitcoin. Yes, you heard that right—1,000! 💸
  • This ETF, which rebalances quarterly (because who doesn’t love a good shake-up?), boasts top holdings including the illustrious Strategy, MARA Holdings, and CleanSpark. Talk about a power trio! 💪

Bitwise Invest, in its infinite wisdom, has launched the Bitwise Bitcoin Standard Corporations ETF (OWNB). This exchange-traded fund is designed to follow the trail of publicly traded companies that have the audacity to hold at least 1,000 bitcoin (BTC). One can only imagine the boardroom discussions that led to this decision! 🧐

The index operates under a set of rather specific rules: companies must clutch a minimum of 1,000 BTC, with their holdings weighted according to the amount of bitcoin they possess. The largest holding is capped at a modest 20%, while those companies with less than 33% of their assets in bitcoin are given a mere 1.5% weighting. It’s like a high-stakes game of poker, but with digital gold! 🃏

According to the ever-reliable Bitwise, publicly traded companies collectively held a jaw-dropping 591,817 BTC as of the end of 2024. The ETF, which will strut its stuff on NYSE Arca, comes with an expense ratio of 0.85%. Because, of course, nothing in life is free! 😅

Bitwise has identified a whopping 70 public companies that currently flaunt bitcoin on their balance sheets. Who knew there were so many bitcoin hoarders out there? 🏦

The fund’s top three holdings of the ETF include Strategy (20.87%), MARA Holdings (12.12%), and CleanSpark (6.26%). It’s like a financial soap opera, and we’re all just here for the drama! 🎭

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2025-03-11 17:00