In the world of asset management, there is a growing trend towards the adoption of Bitcoin as part of corporate financial reserves. One company leading the way in this trend is Bitwise, which recently filed for a new ETF called the “Bitcoin Standard Corporations ETF.” This fund will invest in companies that hold substantial amounts of Bitcoin. Bitwise has set specific criteria for the companies included in the index, requiring them to hold at least 1,000 Bitcoins and meet other financial conditions such as a minimum market capitalization of $100 million. The move by Bitwise comes as more and more publicly listed companies are getting involved in Bitcoin treasury operations.
According to data from BitcoinTreasuries, publicly listed companies currently hold 49% of all entities holding Bitcoin, with the amount of BTC held by these companies increasing by 60% over the past two months. These companies collectively hold 587,687 BTC, representing around 20% of the total Bitcoin held by all entities. Notably, companies from various industries unrelated to crypto, such as biotechnology, pharmaceuticals, sports, cloud services, and video sharing, have also started to accumulate Bitcoin. The stocks of these companies have risen following their Bitcoin purchases, indicating a positive market response to their involvement in Bitcoin treasury operations.
In addition to Bitwise, another asset management company called Strive, co-founded by Vivek Ramaswamy, has filed for a new ETF named the Bitcoin Bond ETF. This ETF is expected to invest in convertible bonds issued by companies that Strive predicts will use the funds raised to purchase Bitcoin, also known as “Bitcoin Bonds.” This move by Strive further demonstrates the growing interest in Bitcoin among both asset management firms and corporations across various industries.
It is clear that the trend of Bitcoin treasury adoption among corporations is gaining momentum, with more companies investing in the leading cryptocurrency as part of their financial reserves. The ETF filed by Bitwise, as well as the Bitcoin Bond ETF filed by Strive, are examples of how asset management firms are responding to this trend and offering investment opportunities to their clients. As the adoption of Bitcoin continues to grow within the corporate sector, it will be interesting to see how this impacts the overall market dynamics of Bitcoin and other cryptocurrencies.
Overall, the growing trend of Bitcoin treasury adoption among corporations is a significant development in the world of asset management and cryptocurrency. With more publicly listed companies investing in Bitcoin and companies from various industries following suit, the market for Bitcoin-related financial products is expanding. Both the ETF filed by Bitwise and the Bitcoin Bond ETF filed by Strive provide investors with new opportunities to gain exposure to Bitcoin through traditional investment vehicles. As the trend continues to evolve, it will be important to monitor how these developments shape the future of Bitcoin and its role in corporate finance.
