Bitwise Plans to Launch Bitcoin Standard ETF Targeting Firms with BTC Reserves
Bitwise Asset Management has announced plans to launch the Bitcoin Standard ETF, a fund designed to focus on companies holding significant Bitcoin reserves. The San Francisco-based investment firm revealed its strategy on Friday, emphasizing the growing role of Bitcoin in corporate balance sheets. The ETF will track the performance of publicly traded firms with substantial Bitcoin holdings, excluding direct Bitcoin investments. This distinction allows the fund to focus on companies embedding Bitcoin into their financial strategies rather than speculative investments. The planned ETF is subject to regulatory approval and marks an innovative step in merging corporate strategy with digital asset exposure. Targeting Bitcoin-Adopting Companies Bitwise’s Bitcoin Standard ETF is set to capture a niche market of corporate Bitcoin adoption. Companies like MicroStrategy, Tesla, and Marathon Digital—known for their Bitcoin reserves—are expected to feature prominently in the ETF’s portfolio. The fund aims to provide institutional and retail investors an indirect way to gain exposure to Bitcoin through equities rather than purchasing the cryptocurrency directly. By focusing on equities, the ETF avoids the complexities of managing physical Bitcoin custody, a significant hurdle for direct Bitcoin exchange-traded products. Moreover, the target companies must meet some criteria, including owning a minimum of 1,000 BTC stores, boasting a minimum of $100 million in market capitalization, and at least $1 million in daily liquidity. The condition permits private stock ownership of less than 10%. Regulatory Hurdles and Market Potential The launch of the Bitcoin Standard ETF hinges on approval from the U.S. Securities and Exchange Commission (SEC), which has historically taken a cautious approach toward cryptocurrency-based financial products. However, Bitwise is optimistic, citing the ETF’s unique structure as a differentiating factor. The product enters a competitive landscape where traditional Bitcoin ETFs have struggled to gain traction amid regulatory and market volatility. The Bitcoin Standard ETF aims to address these challenges by aligning with well-established corporate entities and their financial strategies. While the timeline for regulatory approval remains uncertain, the Bitcoin Standard ETF reflects growing confidence in Bitcoin’s long-term role within the financial ecosystem.
US Spot Bitcoin ETFs Attract Record $479M in Inflows, Hitting 2-Week High
U.S. spot bitcoin exchange-traded funds (ETFs) saw their largest daily inflows in two weeks on Monday. According to data from SoSoValue, the funds attracted $479.35 million in investment on the day, with BlackRock’s IBIT leading the charge. In quite the typical manner, BlackRock’s IBIT led the inflows after adding $315.19 million to extend its streak of consecutive positive flows to 11 days. Ark and 21Shares’ ARKB followed with $59.78 million in inflows, while Fidelity’s FBTC came third after seeing $44.12 million inflows on the day. $38.67 million and $21.59 million were also added to Bitwise’s BITB and Grayscale’s BTC, respectively, while the remaining seven spot Bitcoin ETFs experienced zero flows. Interestingly, none of the funds saw negative flows on the day, pointing to the fact that there is a strong sentiment around Bitcoin at the present moment. Also, the total daily trading volume for all 12 ETFs reached $3 billion on Monday, up from $2.9 billion on Friday. As of publication, Bitcoin was seen trading at $72,746 , up 4.13% over the past 24 hours. That is, according to data from CoinMarketCap. The gains within this short period have been enough to take the cryptocurrency to heights not seen since June. At that same time, Ether climbed 2.94% to change hands at $2,640. Contrasting Fortunes Between Bitcoin and Ether ETFs While spot Bitcoin ETFs in the U.S. saw cumulative positive daily flows on Monday, the story was a bit different with their Ethereum counterparts. Spot Ethereum ETFs in the U.S., for instance, saw a modest $1.14 million in net outflows on Monday. However, it might be something to cheer about as the latest outflow pales in comparison to the $19.16 million in net outflows recorded on Friday. Of all Ether ETFs, Grayscale’s ETHE was the only spot Ether ETF that had capital flow out of it. The fund saw $8.44 million exiting it. The likes of Fidelity’s FETH and BlackRock’s ETHA saw $5.02 million and $2.28 million in new investments, albeit respectively. All other six spot Ether ETFs recorded zero flows.
US Bitcoin ETFs, BTC Price, Plummet amid Ongoing Middle East Crisis
On Tuesday, the market recorded a net outflow of over $242 million.
Australia Approves First Spot Bitcoin ETF on ASX
the VBTC fund will remove barriers such as that which makes investors hesitant about directly purchasing or safeguarding crypto due to their unfamiliarity with its technicalities.
Hong Kong Spot Bitcoin and Ether ETFs To Begin Trading on April 30, Here’s What to Expect
ETF issuers are expected to be in an unspoken race to gain first mover advantage.
