Bitwise Asset Management has introduced the Bitwise Bitcoin Standard Corporations ETF, a new fund trading under the ticker OWNB. The exchange-traded fund (ETF) is designed to track publicly traded companies that hold significant Bitcoin reserves as part of their corporate treasury strategy.
Fund Tracks Companies Holding Over 1,000 BTC
The Bitwise Bitcoin Standard Corporations Index, which the ETF follows, includes firms with at least 1,000 BTC in their reserves. The index ranks holdings based on Bitcoin ownership, with individual companies capped at a maximum 20% weight for diversification.
As of its launch, the index’s top 10 companies include MicroStrategy (MSTR), Marathon Digital Holdings (MARA), CleanSpark, Riot Platforms, and Galaxy Digital, among others. Some large corporations holding over 1,000 BTC but with Bitcoin accounting for less than one-third of their balance sheet are assigned a standard 1.5% weighting.
Bitcoin as a Corporate Reserve Asset
The move comes as more corporations adopt Bitcoin as a treasury reserve. According to the Federal Reserve, U.S. companies currently hold an estimated $5 trillion in cash reserves, much of it earning minimal returns. With concerns over inflation and monetary policy, several firms have turned to Bitcoin as a hedge and store of value.
Bitwise’s ETF does not invest directly in Bitcoin or derivatives linked to the cryptocurrency. Instead, it offers investors exposure to companies that have integrated Bitcoin into their financial strategy. The index will rebalance quarterly, with updates on its composition announced periodically.
