Bitwise Bitcoin Standard Corporations ETF
OWNB
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ROIC.AI
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- Bitwise Funds Trust (ticker: OWNB) is a Delaware statutory trust that serves as the issuer of exchange-traded funds managed by Bitwise Asset Management, Inc., with its principal place of business in San Francisco, California. The trust offers the Bitwise Bitcoin Standard Corporations ETF (OWNB), which provides investors with passively managed exposure to an equity index comprising publicly traded companies holding at least 1,000 bitcoin in their corporate treasuries; the index weights holdings primarily by bitcoin ownership levels, subject to caps such as a 20% limit on the largest position, a 1.5% minimum for eligible smaller holdings, and quarterly rebalancing. Top holdings include Strategy (MSTR), MARA Holdings (MARA), CleanSpark (CLSK), Hut 8 (HUT), and Riot Platforms (RIOT), spanning sectors like technology, mining, and financial services across U.S., Canadian, Japanese, and other international markets. Established in 2022 as part of Bitwise's broader platform founded in 2017, the trust operates under the NYSE Arca exchange, with OWNB launching on March 10, 2025, as the first ETF dedicated to bitcoin-holding corporations, capturing over 160 such firms collectively owning more than 1 million bitcoin valued at tens of billions of dollars. OWNB maintains an expense ratio of 0.85%, with assets under management around $28-38 million and approximately 28-34 holdings as of late 2025; it does not invest directly in bitcoin or derivatives, focusing instead on diversified equity exposure to bitcoin standard corporations as a strategic reserve asset trend. Recent developments include Bitwise Asset Management's acquisition of Attestant Limited in November 2024, adding $3.7-4 billion in institutional-grade Ethereum staking capabilities to its suite of over 30 crypto-related products; a $70 million equity funding round in February 2025 led by Electric Capital with participation from MassMutual, Haun Ventures, and others, boosting client assets beyond $12 billion; and multiple strategy pivots across related funds in December 2024, adopting trend-following rotation models between crypto futures and U.S. Treasuries for enhanced risk-adjusted returns.