Bitwise tracks large Bitcoin holdings to apply for ETF

Exchange-traded fund (ETF) issuer Bitwise has submitted a proposal to introduce a new fund that would invest in publicly-listed companies that hold large amounts of Bitcoin.
According to Cointelegraph on the 27th, Bitwise Bitcoin Standard Corporation
The Bitcoin Corporations ETF plans to invest in companies that have adopted the Bitcoin Standard and hold more than 1,000 BTC in their corporate treasury.
The announcement was made in a regulatory filing on the 26th. To be included in the ETF, the company must have a market capitalization of at least $100 million and average daily liquidity of at least $1 million.
(approximately 158 million yen) or more, and the publicly traded stock ratio must be less than 10%. Unlike conventional ETFs, which usually assign weighting to the stocks held based on the company's market capitalization,
The Bitwise fund will weight its holdings based on the market value of a company's Bitcoin holdings, with a cap of up to 25%.
For example, Tesla has a market capitalization of $1.42 trillion (approximately ¥224 trillion), compared with MicroStrategy's $83.5 billion (approximately ¥13.
trillion yen), but Tesla's Bitcoin holdings of 9,720 BTC are less than MicroStrategy's 444,262 BTC, so the Bitwise ETF
The decision comes as a growing number of public companies are looking to buy Bitcoin to boost their stock prices, which have risen 117% this year.
Meanwhile, Bitcoin surpassed $100,000 (approximately 15.8 million yen) for the first time last month and rose to about $108,000 (approximately 17 million yen) earlier this month, but has since fallen to about $90,580.
It fell to 0 dollars (about 15.1 million yen).