Investment Firm Strive Asset Management Prepares to Introduce an Exchange-Traded Fund Concentrating on Bonds Issued by Bitcoin Strategy Businesses
In the rapidly evolving world of finance, a small but significant number of publicly traded companies globally are dipping their toes into the digital gold rush by owning Bitcoin. According to OKG Research, only 0.01% of such companies currently hold the cryptocurrency.
This trend is not going unnoticed, with various investment vehicles being proposed to capitalize on this emerging market. One such initiative is the Bitwise Bitcoin Standard Company ETF, which will own stocks of companies that have adopted the "bitcoin standard" — holding at least 1,000 BTC in their corporate treasury.
To be eligible for this ETF, companies must meet several criteria. They must have a market capitalization of over $100 million, an average daily trading volume of at least $1 million, and at least 10% of their shares must be publicly available for trading. As of now, the search results do not specifically list the companies that meet these criteria, but notable contenders could be companies involved in Bitcoin treasury strategies, such as MicroStrategy, Tesla, or Square (now Block).
MicroStrategy, in particular, has been a frontrunner in this space. The company's Bitcoin reserves have reached an impressive 444,262 BTC, valued at approximately $83.5 billion. In October, MicroStrategy introduced the "21/21 Plan," aiming to raise $42 billion over the next three years to purchase more Bitcoin. Since August 2020, the company has spent around $27.7 billion to acquire Bitcoin.
Another interesting development is the Strive Bitcoin Bond ETF, which will primarily invest in shares of corporations that have adopted Bitcoin as a reserve asset. Access to "Bitcoin bonds" will be provided directly or through swaps and options. This ETF will be actively managed.
It's worth noting that not all companies have been as successful in gaining shareholder approval for Bitcoin initiatives. For instance, only 0.55% of Microsoft shareholders approved the creation of a Bitcoin reserve.
As the world of finance continues to embrace Bitcoin, it's essential to stay informed about the latest developments. For the most accurate and up-to-date information, it would be important to consult financial reports and market data sources that track these metrics for relevant companies.
In the coming months, we can expect to see more companies joining the Bitcoin bandwagon, and the launch of more investment vehicles designed to capitalize on this trend. The future of Bitcoin in the corporate world is still unfolding, but one thing is certain — it's a space worth watching.
- The Bitwise Bitcoin Standard Company ETF, an initiative in the rapidly evolving world of finance, aims to own stocks of companies that have adopted the "bitcoin standard," possessing at least 1000 BTC in their corporate treasury, showcasing the intersection of technology and traditional finance in investing.
- As more companies join the Bitcoin bandwagon in the corporate world, the future of defi (decentralized finance) and its integration with mainstream finance, particularly through investment vehicles like the Strive Bitcoin Bond ETF, promises to be a significant and exciting area of development in the field of finance and technology.
