Fold and Bitdeer Join MicroStrategy & Tesla In Bitwise’s OWNB Index Fund

Fold and Bitdeer Join MicroStrategy & Tesla In Bitwise’s OWNB Index Fund

  • 25.03.2025 19:27
  • coingape.com
  • Keywords: danger, danger

Bitwise expanded its OWNB Index Fund by adding Fold and Bitdeer, joining MicroStrategy and Tesla. The fund tracks companies holding Bitcoin, with Strategy leading at 22.64%. Crypto ETF interest is growing amid regulatory developments.

Coinbase NewsSTRKsentiment_satisfiedTSLAsentiment_neutralCLSKsentiment_neutral

Estimated market influence

Bitwise

Positivesentiment_satisfied
Analyst rating: N/A

Bitwise is a crypto index and ETF provider that has expanded its Bitcoin Standard Corporations Index to include Fold and Bitdeer, increasing their footprint in the crypto ETF market.

Fold

Neutralsentiment_neutral
Analyst rating: N/A

Fold was added to the Bitwise OWNB Index Fund, indicating recognition of its role in the crypto space but no specific financial impact mentioned.

Bitdeer

Neutralsentiment_neutral
Analyst rating: N/A

Bitdeer was also included in the Bitwise OWNB Index Fund, showing its inclusion as a significant player without detailed financial metrics provided.

MicroStrategy

MicroStrategy

Positivesentiment_satisfied
Analyst rating:

MicroStrategy is highlighted as one of the top companies holding Bitcoin, with a significant increase in their holdings and a high weighting in the index fund.

Tesla

Tesla

Neutralsentiment_neutral
Analyst rating: Neutral

Tesla holds 11,509 BTC, contributing to its position in the index but without specific financial impact details provided beyond that.

Cleanspark

Cleanspark

Neutralsentiment_neutral
Analyst rating: N/A

Included in the Bitwise OWNB Index Fund as one of the top companies holding Bitcoin, with no additional financial impact specified.

Hut 8

Neutralsentiment_neutral
Analyst rating: N/A

Part of the index fund's holdings, indicating Hut 8's role in the crypto space without detailed financial metrics provided.

Block Inc.

Neutralsentiment_neutral
Analyst rating: N/A

Included as a top company holding Bitcoin, contributing to the index but no specific financial impact beyond that mentioned.

Coinbase Exchange

Neutralsentiment_neutral
Analyst rating: N/A

Part of the Bitwise OWNB Index Fund's holdings, showing its inclusion in the crypto ETF space without detailed financial impact provided.

Boyaa Interactive

Neutralsentiment_neutral
Analyst rating: N/A

Included in the index fund, indicating Boyaa Interactive's role in the crypto sector but no specific financial details given.

Metaplanet

Neutralsentiment_neutral
Analyst rating: N/A

Ranked fourth largest holding with a 5% weighting, contributing to the index without detailed financial impact beyond that mentioned.

Context

Analysis of Bitwise's OWNB Index Fund Expansion

Market Overview

  • Expansion of Crypto ETFs: The crypto ETF market is growing, driven by renewed regulatory clarity from the SEC.
  • Pro-Crypto Administration: The Trump administration's stance supports crypto adoption, fostering ETF development.

Index Fund Composition

  • Inclusion of Fold and Bitdeer: Added to OWNB Index alongside established firms like MicroStrategy and Tesla.
  • Indirect Bitcoin Exposure: OWNB fund uses derivatives for Bitcoin exposure without direct holdings.
  • Weighting Criteria: Companies with ≥1,000 BTC holdings receive 1.5% weighting; larger allocations increase weight.

Key Holdings

  • Strategy (22.64%): Largest holding with 506,137 BTC ($42B), post $584M purchase.
  • Tesla (11,509 BTC): Holds significant Bitcoin but much less than Strategy.
  • Coinbase (6,885 BTC): Notable exchange with substantial holdings.
  • Cipher Mining (1.032 BTC): Minimum holding requirement.

Competitive Landscape

  • Market Leadership: Bitwise leads in the ETF niche with its Standard Corporations ETF.
  • Regulatory Filings: Bitwise and others like Fidelity are actively pursuing SEC approvals for new ETFs.

Market Implications

  • Institutional Adoption: Expansion suggests increased institutional interest in Bitcoin via ETFs.
  • Market Impact: Could stabilize Bitcoin prices through diversified investment channels.
  • Regulatory Tilt: Potential SEC approvals may boost crypto ETF growth and mainstream adoption.

Long-Term Effects

  • Stabilization: Institutional investments might reduce market volatility.
  • Growth Opportunities: More companies adopting Bitcoin treasuries could expand the index's scope.
  • Regulatory Environment: Continued regulatory clarity will influence ETF expansion and investor confidence.