Key Takeaways:
- Fold Holdings and Bitdeer Technologies are the latest additions to the Bitwise Bitcoin Standard Corporations ETF.
- The ETF currently includes 22 companies holding over 648,000 BTC, valued at more than $54 billion.
- This means it accounts for about 3.2% of the total Bitcoin supply.
Fold Holdings Inc. and Bitdeer Technologies Group have been included in the holdings of the Bitwise Investments Bitcoin Standard Corporations ETF (OWNB). This was announced on March 25, 2025, via the company’s X account.
OWNB Welcomes New Additions
Founded in 2019, and headquartered in Phoenix, Fold Holdings develops Bitcoin financial services, allowing consumers to earn Bitcoin rewards through the Fold app. Bitdeer Technologies is a Nasdaq-listed Bitcoin mining company which has operations in the well-known locations such as the United States, as well as more obscure countries such as Norway and Bhutan and thus a significant player in the setup behind the Bitcoin network itself. This follows the launch of the Bitwise fund, highlighting the ETF’s rapid expansion and appeal to companies with significant Bitcoin exposure.
The addition of Fold Holdings and Bitdeer Technologies to the OWNB ETF fits with Bitwise’s strategy of broadening its holdings with companies that encompass multiple dimensions of the Bitcoin ecosystem.
With the addition of these two new companies, the ETF now consists of 22 companies holding at least 1,000 BTC in their treasuries. The fund is passively managed, offering exposure to publicly traded Bitcoin companies.
Note that the fund does not own Bitcoin outright or through derivatives linked to Bitcoin, so it avoids some of the direct volatility of the cryptocurrency itself. It is not, however, a measure of Bitcoin’s price itself, but rather the price of companies associated with Bitcoin. As a result, the performance of the ETF is influenced by the financial health, market positioning, and strategic decisions of the included companies, rather than Bitcoin’s day-to-day fluctuations.
Top Participants in the OWNB Bitcoin Network
The OWNB ETF is based on the Bitwise Bitcoin Standard Corporations Index, which includes significant Bitcoin holders like Strategy (MSTR) (previously called MicroStrategy), MARA Holdings (MARA), and Tesla (TSLA), which is run by Elon Musk.
The OWNB ETF’s other major companies include Riot Platforms, Metaplanet, and Semler Scientific. Like Strategy, Metaplanet has also been aggressively accumulating Bitcoin.
As of March 21, 2025, Strategy (MSTR) holds the largest share in the Bitwise Standard Corporations Index, accounting for 21.98%. The company owns 506,137 BTC, valued at over $42 billion. Second and third after these are MARA and Riot Platforms, with respective weightings of 10.07% and 9.85%.
Metaplanet, which has been very active in acquiring Bitcoin, has a weight of 4.81% in the index as the fourth largest holding and clearly values Bitcoin as a treasury asset.
The Accumulating Bitcoin in OWNB
The expanded OWNB ETF now holds a cumulative 648,000 BTC, worth over $54 billion USD. This represents approximately 3.2% of the total Bitcoin supply. In other words, the OWNB ETF is a barometer for the growing trend of corporations allocating to Bitcoin.
Fold Holdings currently owns 1,485 BTC worth nearly $124 million according to the Bitwise OWNB site, while Bitdeer holds 1,090 BTC that has an estimated value of about $91 million. According to analysts, ETFs offer a distinctive way to gain exposure to Bitcoin’s growth story via the stock market.
Bitwise’s move reflects heightened corporate interest in Bitcoin and allows investors to ride this growing trend with exposure through the OWNB ETF.
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