The new OWNB fund focuses on companies with at least 1,000 bitcoin, providing investors with diversified exposure to the asset.
On March 11, Bitwise Asset Management launched a new investment product, the Bitwise Bitcoin Standard Corporations ETF (OWNB), designed to offer exposure to companies that hold at least 1,000 BTC on their balance sheets.
According to the announcement, the ETF follows the Bitwise Bitcoin Standard Corporations Index, which includes companies that have integrated Bitcoin into their corporate treasuries as a strategic asset.
Matt Hougan, Chief Investment Officer of Bitwise, explained the rationale behind this corporate choice:
“Companies hold trillions in cash while the U.S. government runs an annual deficit exceeding $2 trillion. As a result, many businesses view Bitcoin as a strategic reserve asset—liquid, scarce, and independent of government monetary policies.”
Hunter Horsley, CEO of Bitwise, emphasized that more companies are now following the model pioneered by Strategy, with over 70 firms holding Bitcoin as part of their treasury strategy.
Selection criteria and ETF composition
Bitwise specified that no single company can account for more than 20% at the time of rebalancing, and firms where Bitcoin represents less than 33% of total assets automatically receive a weighting of 1.5%.
At launch, Strategy holds the largest share of the index at 20.87%, with 499,096 BTC. Mining firm Mara Holdings represents 12.12%, while CleanSpark and Riot Platforms account for 6.26% and 6.23%, respectively.
Asian companies are also included, with Chinese gaming giant Boyaa Interactive at 5.75% and Japanese firm Metaplanet holding a 5.25% allocation.
Additionally, Aker ASA, a Norwegian industrial investment company, makes up 4.63% of the index, while mining firms Bitfarms and BitFuFu hold 4.30% and 4.03%, respectively. Galaxy Digital, a financial services company, rounds out the major holdings at 3.99%. Tesla is also included, with a 1.27% weighting.
