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

Bitwise has added Fold Holdings and Bitdeer Technologies to its Bitcoin Standard Corporations Index (OWNB). These firms now join Strategy, formerly MicroStrategy, Elon Musk’s Tesla, and many others already profiled in the fund. This brings the number of companies on the OWNB Index Fund to 22, with collective BTC holdings of more than 648,000.

The Bitwise Bitcoin Corporation Index Fund

This crypto index and exchange-traded funds provider announced the latest development on X earlier today. The news comes only two weeks after OWNB went live with a focus on companies with exposure to Bitcoin. 

The index tracks top companies that hold Bitcoin as treasury assets in their balance sheets. According to the asset management firm, OWNB fund does not directly invest in Bitcoin but or indirectly offers exposure to the coin through derivatives referencing BTC.

Bitwise Standard Corporations ETF is one of the first in the ETF niche. The new ETF automatically assigns 1.5% weighting to corporations with BTC holdings over 1,000 but less than 33% of the proprietary assets.

The Composition of the Bitwise OWNB Index Fund

The top ten companies on this list are Strategy, Bitcoin mining firms MARA Holdings and Riot Platform, Tesla, Cleanspark, Hut 8, Block Inc, Coinbase Exchange, Boyaa Interactive, and Metaplanet. 

Each company holds a minimum of 1,000 BTC in its treasury. Strategy increased its holdings to 506,137 BTC worth over $42 billion. It achieved this feat after it acquired 6,911 BTC for $584 million earlier this week. Tesla holds 11,509 BTC, Coinbase holds 6,885 BTC, and Cipher Mining has a minimum holding of 1.032 BTC. 

With the amount of BTC held, Strategy’s holding gives it the highest weight in the Bitwise Standard Corporations Index at 22.64%. MARA and Riot weightings of 10.67% and 10.04%, respectively, are barely 50% of that of the Michael Saylor-led business intelligence and software company. 

New entrants to the Bitwise Bitcoin Standard Corporations Index!

The Bitwise Bitcoin Standard Corporations ETF $OWNB seeks to track an index of companies like $MSTR, $MARA, and $TSLA that hold more than 1000 BTC as a treasury asset. That index was just reconstituted.

The… pic.twitter.com/cFXPf7EpLR

— Bitwise (@BitwiseInvest) March 25, 2025

Japanese financial leader Metaplanet ranked fourth largest holding, weighing 5%. Meanwhile, the firm’s collective Bitcoin holding represents 3.2% of the total supply of Bitcoin in the crypto market. 

Market and the Crypto ETF Pursuit

The broader crypto industry has recently seen a wave of ETFs, especially given the pro-crypto stance of the President Donald Trump administration. 

Bitwise is amongst the asset managers who consistently filed S-1 registration for some crypto-based ETFs. In the first week of March, the firm submitted an S-1 filing with the U.S. Securities and Exchange Commission (SEC) for a new ETF focused on Aptos (APT).

Similarly, CBOE recently filed an S-1 registration statement on behalf of Fidelity Investments to list Solana ETF. The US SEC has acknowledged some of the filings for crypto ETFs in the past. This suggests a possible tilt toward approval.