Bitwise 向 SEC 提交比特币标准 ETF 提案，针对持有 BTC 国债的公司

该基金旨在投资于资产负债表上持有大量比特币或大部分收入来自比特币相关活动的上市公司。

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.

数字资产管理公司 Bitwise 于 2024 年 12 月 26 日向美国证券交易委员会 (SEC) 提交了一份新的注册声明。该文件寻求批准“Bitwise 比特币标准 ETF”，该基金将投资于拥有重大资产的上市公司。比特币持有量或收入。

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.

该文件概述了该基金的投资策略，旨在通过股票为投资者提供了解比特币表现的机会。根据该文件，该基金将投资于旨在跟踪 Bitwise 比特币标准指数表现的普通股投资组合。

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.

反过来，该指数将包含上市公司的股票，这些公司的大部分业务活动或资产都专用于比特币。具体来说，公司将被要求持有至少 1,000 BTC 的储备。

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.

该基金的投资将集中于在战略和财务方面都致力于比特币的成熟企业。正如 Bitwise 所说，这种方法背后的基本原理是缓解托管、监管限制和流动性问题等挑战。

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，该基金将根据每家公司持有的 BTC 市值进行加权，每家公司的上限为 25%。这种机制更加重视公司的 BTC 资金规模，而不是其总体规模或收入。

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.

根据文件，该基金将至少 80% 的净资产投资于该基金定义的比特币标准公司的股权证券。该基金将保留出于流动性目的持有现金等短期工具的灵活性。

“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.

文件称：“在正常市场条件下，该基金打算将至少 80% 的净资产投资于资产负债表上持有大量 BTC 或大部分收入来自比特币相关活动的公司的股本证券。”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.”

社区的反应非常积极。 ETF 研究所主席 Nate Geraci 通过 X 写道：“比特币资金操作病毒正在传播。”麦凯研究公司的创始人詹姆斯·麦凯补充道：“当接触到拥有该事物的事物并获得其自己的包装时，你就知道该‘事物’很重要。”

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币为重点的 ETF 提案，引起了轰动。它被称为“Strive 比特币债券 ETF”，目标是持有大量 BTC 的公司的可转换债券。

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

截至发稿时，BTC 交易价格为 94,857 美元。