The post Will Wall Street adopt the Bitcoin standard? The ‘BTC treasury operations virus is spreading’ appeared on BitcoinEthereumNews.com.

United States companies are one step closer to adopting what Bitcoin (BTC) enthusiasts call “the Bitcoin standard” for treasury operations. Analysts weighed in as a new Bitcoin-based exchange-traded fund (ETF) waits approval, further spreading the BTC virus in Wall Street. On December 26, Bitwise filed with the Securities and Exchange Commission (SEC) to launch the “Bitwise Bitcoin Standard Corporations ETF.” As described, the ETF will invest in over-$100 million market cap companies holding at least 1,000 BTC in their corporate treasuries. With that, the asset manager intends to provide further indirect Bitcoin exposure to Wall Street’s stock market. At the same time, Bitwise’s proposed fund, if approved, could encourage more companies to follow MicroStrategy’s (NASDAQ: MSTR) example. “The btc treasury operations virus is spreading,” Nate Geraci, president of ETF Store and host of ETF Prime Podcast, commented. SEC Filing: Bitwise Bitcoin Standard Corporations ETF. Companies eligible for the Bitwise Bitcoin Standard Corporations ETF Bitwise has filed for the “Bitcoin Standard Corporations ETF,” targeting companies with significant Bitcoin holdings. MicroStrategy leads the pack with over 444,262 BTC in its treasury, setting a precedent for corporate adoption. Tesla (NASDAQ: TSLA) is another company that holds substantial reserves, with 9,720 BTC. Notably, Semler Scientific (NASDAQ: SMLR) has also embraced the Bitcoin standard for its treasury, holding 2,084 BTC. Publicly traded companies like KULR Technology Group have recently announced a $21 million investment in Bitcoin, joining the trend. However, it only holds 217.2 BTC and would not be eligible for the Bitwise Bitcoin Standard Corporations ETF. Rumble, LQR House, RemixPoint, Genius Group, Cosmos Health, and Jiva Technologies have announced plans to allocate portions of their treasuries to Bitcoin, ranging from $1 million to $20 million. According to BitcoinTreasuries data, there are 21 companies in the world and 13 in the U.S. that would be…

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Filed under: News - @ December 27, 2024 12:23 pm