Nikolas Sargeant
Bitwise and Strive Financial, co-founded by Vivek Ramaswamy, have both filed to create exchange-traded funds (ETFs) that target companies with significant Bitcoin holdings in their corporate treasuries. The filings come amid a surge in corporate adoption of Bitcoin as part of treasury strategies, with companies like MicroStrategy and KULR Technology Group leading the way. These new ETFs aim to offer investors exposure to the growing trend of companies embracing Bitcoin as a core asset.
Bitwise and Strive ETFs to Focus on Bitcoin-Treasury Companies
Bitwise’s offering, the Bitwise Bitcoin Standard Corporations ETF, will invest in companies that hold more than 1,000 BTC in their treasuries. Unlike traditional ETFs, which are weighted by market capitalization, this fund will weight companies based on the value of their Bitcoin holdings, ensuring that firms with a significant portion of their balance sheet in Bitcoin are more heavily represented. This could give mid-sized companies with substantial Bitcoin investments more influence in the fund than larger firms with smaller BTC holdings.
Strive’s offering, the Strive Bitcoin Bond ETF, will invest in convertible securities, such as bonds issued by companies like MicroStrategy, that are focused on purchasing Bitcoin with the proceeds. Unlike Bitwise’s fund, Strive's ETF is non-diversified, meaning it could invest more heavily in specific issuers, depending on their Bitcoin adoption strategies.
The move is expected to drive further interest in the sector, as more companies look to Bitcoin as a store of value.
