Well, I’ll be a monkey’s uncle! Bitwise has cooked up a newfangled exchange-traded fund (ETF) chock-full of companies that are rolling in Bitcoin like it’s confetti. They made the grand announcement on March 11, just in time for my birthday, I reckon.
This here ETF, called the Bitwise Bitcoin Standard Corporations ETF (OWNB), aims to shadow the Bitwise Bitcoin Standard Corporations Index. What’s that, you ask? Why, it’s a list of companies that have at least 1,000 of them shiny Bitcoin coins stashed away in their corporate piggy banks, that’s what!
Seems like everyone and their grandma is jumping on the Bitcoin bandwagon these days, and this ETF is just the latest trick in the hat.
Matt Hougan, the top dog over at Bitwise, had this to say: “Why do companies buy and hold bitcoin? For the exact same reasons people do.” Well, hot dog! I guess even big shots like a good investment when they see one.
“These companies,” Matt continues, “see Bitcoin as a strategic reserve asset that’s as liquid as a mountain stream and scarcer than hen’s teeth — and it ain’t subject to no government’s money-printing shenanigans.”
Now, let’s talk about who’s who in this Bitcoin hoedown. As of March 11, the ETF’s got big shots like Strategy (MSTR), Michael Saylor’s Bitcoin baby, and Bitcoin miners like MARA Holdings (MARA), CleanSpark (CLSK), and Riot Platforms (RIOT) in its pocket.
And if that ain’t enough, it’s also got gaming gurus Boyaa Interactive and investment wizards Galaxy Digital (GLXY) in the mix.
Bitwise’s index is a real smart cookie, weighted by the amount of Bitcoin these companies are hoarding, with the biggest fish capped at 20% of the pond, they say.
In 2024, Bitcoin prices shot up like a rocket, and Strategy’s shares went along for the ride, gaining more than 350%. This little stunt got other companies all fired up to start their own Bitcoin treasure hunts. BitcoinTreasuries.NET says corporate Bitcoin stashes are worth more than $54 billion as of March 11. Now that’s a pile of cash!
Strategy’s still the big kahuna, with a Bitcoin treasure chest worth over $41 billion. And get this: even the US government’s in on the act, starting a strategic Bitcoin reserve with coins snatched by the lawmen.
Other money managers are jumping on the bandwagon too. Strive, led by former presidential hopeful Vivek Ramaswamy, is cooking up an ETF that invests in bonds from Strategy and other Bitcoin-crazy companies. They’re calling ’em “Bitcoin Bonds” – sounds like something out of a Wild West show!
And REX Shares is getting ready to unveil its own Bitcoin corporate treasury ETF, they announced on March 10. Well, ain’t that something?
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2025-03-11 22:32