Binary Launches ETF Tracking Businesses That Hang Bitcoin

Crypto property manager Binary has launched a fresh ETF that gives investors subjection to publicly traded companies with the biggest Bitcoin stashes. &nbsp,

In a Tuesday news, the San Francisco-based company said that its new Binary Bitcoin Standard Corporations ETF—OWNB—tracks 21 companies that hold 1, 000 Bitcoin or more. &nbsp,

The index includes software firm Strategy ( formerly MicroStrategy ), Bitcoin miner MARA, Jack Dorsey’s payments company Block, America’s biggest crypto exchange, Coinbase, and even electric car company Tesla. &nbsp,

All firms trade on the Nasdaq or New York Stock Exchange. Some are Crypto workers. &nbsp,

Binary said in its statement on X:” Why are more companies adopting the Crypto normal? According to the Federal Reserve, companies are sitting on$ 5 trillion in low-yielding cash today, and many are recognizing Bitcoin’s value as a strategic reserve asset”.

It’s normal for companies in the Bitcoin mining area to keep the bitcoin as they get rewarded by modern coins for keeping the system secure. But Nasdaq-listed Tesla, for instance, bought Bitcoin in 2021 to improve results on its income investments. &nbsp,

Companies like Strategy—currently the largest corporate holder of BTC, with 499, 096 coins today worth nearly$ 40 billion —argue that Bitcoin is the best store of value and the most efficient way to get shareholders a return on their investment.

According to Strategy co-founder and chair Michael Saylor, the company again in 2020 was sitting on half a billion dollars in cash. When it started buying the modern property during the COVID-19 crisis, it saved the company. &nbsp,

Since the company adopted a” Bitcoin standard” in August 2020, the firm’s stock has shot up in value by more than 1, 800 %. &nbsp,