- The Bitwise Bitcoin Customary Companies ETF would spend money on firms that “maintain no less than 1,000 Bitcoins”
- Firms will need to have a market capitalization of no less than $100 million to be included within the ETF supplied by Bitwise.
- KULR Know-how Group launched its Bitcoin Treasury technique with the acquisition of 217.18 Bitcoin for $21 million.
Bitwise has filed a proposal with US regulators to launch a brand new exchange-traded fund (ETF) to spend money on publicly traded firms that maintain massive Bitcoin reserves.
Below the Bitwise Bitcoin Customary Companies ETF, the ETF issuer would spend money on firms that “maintain no less than 1,000 Bitcoins in its company treasury,” in accordance with a Dec. 26 Securities submitting and Change Fee (SEC) of the US.
To be eligible for inclusion within the ETF, firms will need to have a market capitalization of no less than $100 million, common each day liquidity of no less than $1 million, and a public float of lower than 10%.
Bitwise's proposed ETF would assign weightings to shares based mostly in the marketplace worth of an organization's Bitcoin holdings, making certain that is capped at 25%.
Attain new heights
The information comes as the worth of Bitcoin elevated following President-elect Donald Trump's US election victory. At its peak, Bitcoin hit a brand new all-time excessive above $107,000 earlier this month. In a November consumer notice, Bitwise CIO Matt Hougan mentioned the US election was both going to be a “velocity bump” or a “wind gust” for the crypto market.
It is very important notice that over the previous few weeks, increasingly more firms have been buying Bitcoin to drive up inventory costs. On December 23, MicroStrategy introduced on X that it now held 444,262 Bitcoins after buying a further 5,262 Bitcoins for $561 million.
Individually, KULR Know-how Group introduced on December 26 that it had launched its Bitcoin money technique with the acquisition of 217.18 Bitcoins for $21 million.
KULR Know-how Group, Inc. ( $KULR ) begins its Bitcoin Treasury technique with the acquisition of 217.18 $BTC for $21 million, or on common $96,556 per BTC.
Utilizing $ PIECE KULR's major custody and pockets platform, allocates as much as 90% of extra liquidity to BTC.https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS
– KULR Know-how (@KULRTech) December 26, 2024
