Bitwise has added new companies to its Bitcoin 
$76,429 Standard Corporations Index. Fold Holdings and Bitdeer Technologies have joined previously included firms like Strategy and Tesla. This update brings the total number of companies within the index to 22, with their aggregate Bitcoin holdings exceeding 648,000.
Update on the OWNB Index
Bitwise, active in the cryptocurrency market, announced an index fund focused on companies holding Bitcoin as a treasury asset. The fund does not invest directly in Bitcoin but allows investment in companies that hold BTC through futures contracts.
What began in 2020 with MSTR’s “proxy BTC ETF” has turned into a race among publicly traded companies to attract demand for their shares by adding BTC to their balance sheets. Recently, companies acquiring BTC are following this strategy not only to strengthen reserves but also to naturally attract demand for their stocks. Ultimately, cryptocurrency investors benefit from this demand, as it fuels supply scarcity.
Companies’ Bitcoin Holdings
Key players in the index include Strategy, Bitcoin mining firms MARA Holdings and Riot Platform, Tesla, Cleanspark, Hut 8, Block Inc, Coinbase Exchange, Boyaa Interactive, and Metaplanet. Each company holds at least 1,000 Bitcoin; for instance, Strategy increased its total assets this week by acquiring 6,911 Bitcoin, while Tesla and Coinbase possess 11,509 and 6,885 Bitcoin, respectively.
The data highlights that Strategy holds the highest weight in the index at 22.64%, while MARA and Riot hover around 10%. Japan-based Metaplanet ranks fourth with a 5% share. These figures provide insight into the balance and distribution within the industry.
Bitwise states that it employs an automated weighting system for creating the index. Companies are evaluated based on the percentage of Bitcoin assets relative to their total equity, allowing for a 1.5% weighted evaluation. This approach enables the fund to indirectly track companies’ relationships with Bitcoin.
The article showcases Bitwise’s innovative approach in the cryptocurrency market while highlighting the method used to indirectly track companies’ Bitcoin holdings. For investors, these developments may offer an opportunity to monitor market dynamics more closely; new regulations and ETF applications may also play a significant role in sector evaluations.
