Two new ETFs targeting corporations adopting Bitcoin treasuries are in the works, according to recent filings with the SEC.
Bitwise, a major player in crypto-focused ETFs, plans to launch the Bitwise Bitcoin Standard Corporations ETF, which would invest in companies embracing the “Bitcoin standard.” Eligible firms must hold at least 1,000 BTC, have a market capitalization exceeding $100 million, daily liquidity over $1 million, and a public free float of under 10%. Instead of traditional market-cap weighting, the ETF will weight holdings by the value of companies’ Bitcoin reserves, potentially giving mid-sized companies with substantial Bitcoin treasuries more prominence in the fund.
Meanwhile, Strive Asset Management, co-founded by Vivek Ramaswamy, has filed for the Strive Bitcoin Bond ETF, which will focus on convertible securities issued by companies like MicroStrategy. The fund targets businesses using proceeds from these securities to acquire Bitcoin, or “Bitcoin Bonds.”
Unlike Bitwise’s diversified ETF, Strive’s Bitcoin Bond ETF is classified as “non-diversified,” allowing greater concentration in assets from specific issuers without preset weighting.
These filings signal growing interest in financial products that link corporate Bitcoin adoption to investor strategies, offering a new way to capitalize on the integration of cryptocurrencies into corporate treasuries.