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New Bitwise ETF Tracking Public Companies Holding 1,000 BTC
Bitwise has recently launched a new exchange-traded fund (ETF) that tracks public companies holding at least 1,000 Bitcoin (BTC) on their balance sheets. This ETF is designed to provide investors with a unique way of investing in the cryptocurrency market by indirectly gaining exposure to companies that share its conviction in Bitcoin’s long-term potential.
The ETF, dubbed the Bitwise Bitcoin Standard Corporations ETF, will adjust company weightings quarterly and ensure diversification, capping the exposure to any single entity at 20%. This move is seen as a significant step forward for institutional investors seeking to incorporate digital assets into their portfolios while aligning with environmentally friendly practices.
Interestingly, the new ETF has attracted significant attention from big players in the financial sector. Notably, participating in the round of funding were MassMutual, Highland Capital, and MIT Investment Management Company, which collectively contributed $70 million towards accelerating the development of Bitwise’s innovative financial products.
The launch of this ETF is seen as a major milestone for the company, showcasing its commitment to catering to an increasingly sophisticated investor base.
