- The Bitwise Bitcoin Same old Firms ETF would put money into companies that “dangle a minimum of 1,000 Bitcoin”
- Firms wish to have a marketplace capitalization of a minimum of $100 million to be integrated in Bitwise’s proposed ETF
- KULR Generation Crew began its Bitcoin Treasury technique with the acquisition of 217.18 Bitcoin for $21 million
Bitwise has filed a suggestion with US regulators to release a brand new exchange-traded fund (ETF) to put money into publicly traded corporations that dangle considerable Bitcoin reserves.
Below the Bitwise Bitcoin Same old Firms ETF, the ETF issuer would put money into companies that “dangle a minimum of 1,000 Bitcoin in its company treasury,” in line with a December 26 submitting with the United States Securities and Alternate Fee (SEC).
To additional qualify to be integrated within the ETF, corporations wish to have a marketplace capitalization of a minimum of $100 million, a mean day by day liquidity of $1 million or extra, and a public loose waft of lower than 10%.
The proposed ETF from Bitwise would assign inventory weight based totally available on the market price of an organization’s Bitcoin holdings, making sure that is capped at 25%.
Achieving new heights
The scoop comes as Bitcoin has skilled a upward thrust in price following the United States election win of President-elect Donald Trump. At its height, Bitcoin reached a brand new all-time prime above $107,000 previous this month. In a shopper memo in November, Bitwise’s CIO Matt Hougan stated the United States election used to be both going to be a “velocity bump” or a “wind gust” for the crypto marketplace.
Considerably, in fresh weeks, extra corporations had been purchasing Bitcoin to push up inventory costs. On December 23, MicroStrategy introduced on X that it now holds 444,262 Bitcoin after obtaining an additional 5,262 Bitcoin for $561 million.
In different comparable information, KULR Generation Crew introduced on December 26 that it had began its Bitcoin Treasury technique with the acquisition of 217.18 Bitcoin for $21 million.
KULR Generation Crew, Inc. ( $KULR ) starts its Bitcoin Treasury technique with the acquisition of 217.18 $BTC for $21M, averaging $96,556 in keeping with BTC.
The usage of $COIN ’s Top platform for custody and wallets, KULR is allocating as much as 90% of surplus money to BTC.https://t.co/GClCvKTjUH %.twitter.com/DFqAxDm0vS
— KULR Generation (@KULRTech) December 26, 2024