Bitwise 向 SEC 提交比特幣標準 ETF 提案，針對持有 BTC 公債的公司

該基金旨在投資於資產負債表上持有大量比特幣或大部分收入來自比特幣相關活動的上市公司。

Digital asset management firm Bitwise filed a new registration statement with the US Securities and Exchange Commission (SEC) on December 26, 2024. The filing seeks approval for the “Bitwise Bitcoin Standard ETF,” a fund that will invest in publicly traded companies with significant BTC holdings or revenue.

數位資產管理公司Bitwise 於2024 年12 月26 日向美國證券交易委員會(SEC) 提交了一份新的註冊聲明。公司。

The filing outlines the fund’s investment strategy, which aims to provide investors with exposure to the performance of Bitcoin through equities. According to the document, the fund will invest in a portfolio of common stock that is designed to track the performance of the Bitwise Bitcoin Standard Index.

該文件概述了該基金的投資策略，旨在透過股票為投資者提供了解比特幣表現的機會。根據該文件，該基金將投資於旨在追蹤 Bitwise 比特幣標準指數表現的普通股投資組合。

The index, in turn, will comprise equities of publicly traded companies that have a material portion of their business activities or assets dedicated to Bitcoin. Specifically, the companies will be required to hold a minimum of 1,000 BTC in reserves.

反過來，該指數將包含上市公司的股票，這些公司的大部分業務活動或資產都專用於比特幣。具體來說，該公司將被要求持有至少 1,000 BTC 的儲備。

The fund’s exposure will be concentrated in established corporations that are committed to Bitcoin in both strategy and treasury. The rationale behind this approach, as stated by Bitwise, is to mitigate challenges such as custody, regulatory constraints, and liquidity concerns.

該基金的投資將集中於在戰略和財務方面都致力於比特幣的成熟企業。正如 Bitwise 所說，這種方法背後的基本原理是緩解託管、監管限制和流動性問題等挑戰。

Notably, the fund will be weighted by each company’s market value of BTC holdings, subject to a cap of 25% per firm. This mechanism places greater emphasis on the magnitude of a company’s BTC treasury rather than its overall size or revenue.

值得注意的是，該基金將根據每家公司持有的 BTC 市值進行加權，每家公司的上限為 25%。這種機制更重視公司的 BTC 資金規模，而不是其整體規模或收入。

According to the filing, the fund will invest at least 80% of its net assets in equity securities of Bitcoin Standard companies, as defined by the fund. The fund will retain the flexibility to hold short-term instruments, such as cash, for liquidity purposes.

根據文件，該基金將至少 80% 的淨資產投資於該基金定義的比特幣標準公司的股權證券。該基金將保留出於流動性目的持有現金等短期工具的靈活性。

“Under normal market conditions, the Fund intends to invest at least 80% of its net assets in the equity securities of companies that hold significant BTC on their balance sheets or generate a material portion of their revenues from Bitcoin-related activities,” the filing states.

文件稱：「在正常市場條件下，該基金打算將至少 80% 的淨資產投資於資產負債表上持有大量 BTC 或大部分收入來自比特幣相關活動的公司的股本證券。」州。

The reactions from the community were overwhelmingly positive. Nate Geraci, president of The ETF Institute wrote via X: “The btc treasury operations virus is spreading.” James McKay, founder of McKay Research, added: “You know the ‘thing’ is important when exposure to a thing that owns the thing is getting its own wrapper.”

社區的反應非常正面。 ETF 研究所主席 Nate Geraci 透過 X 寫道：“比特幣資金操作病毒正在傳播。”麥凱研究公司的創始人詹姆斯·麥凱補充說：“當接觸到擁有該事物的事物並獲得其自己的包裝時，你就知道該‘事物’是很重要的。”

On the same day Bitwise submitted its filing, Vivek Ramaswamy’s Strive Asset Management also made waves with its own Bitcoin-focused ETF proposal. Dubbed the Strive Bitcoin Bond ETF, it would target convertible bonds from companies with significant BTC holdings.

在 Bitwise 提交文件的同一天，Vivek Ramaswamy 的 Strive Asset Management 也推出了自己的以比特幣為重點的 ETF 提案，引起了轟動。它被稱為“Strive 比特幣債券 ETF”，目標是持有大量 BTC 的公司的可轉換債券。

At press time, BTC trades at $94,857.

截至發稿時，BTC 交易價格為 94,857 美元。