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Home Explore Bitcoin

Nation Considers Bitcoin ETFs for Foreign Reserves – Bitwise CEO

16 January 2025
in Bitcoin, News
Reading Time: 3 mins read
110 1
source: coinpedia.com

source: coinpedia.com

Hunter Horsley, the CEO of Bitwise Asset Management, announced that a national government is considering investing in Bitcoin, including exchange-traded funds (ETFs).

On January 16, Horsley shared a post on X, revealing that they have provided information about Bitcoin ETFs to an unnamed nation-state. This nation is considering reallocating a portion of its foreign exchange reserves, typically held in foreign government bonds, into Bitcoin (BTC).

“We just provided some information for a nation state asking about Bitcoin ETFs. Considering moving some exposure from foreign currency govt bonds into BTC. Bitcoin is entering a new chapter ”

He stated

This development aligns with recent comments by Federal Reserve Chairman Jerome Powell, who described Bitcoin as more of a competitor to gold than a traditional currency. This highlights Bitcoin’s increasing recognition as a legitimate asset class. The rising interest in Bitcoin exchange-traded funds (ETFs) coincides with state-level legislative initiatives to integrate Bitcoin into everyday financial transactions. In Oklahoma, State Senator Dusty Deevers has recently proposed the “Bitcoin Freedom Act,” which would permit employees to be paid in Bitcoin and allow businesses to accept it as a form of payment.

Meanwhile, Countries are increasingly adopting Bitcoin and ETFs to enhance their presence in the digital asset space. Thailand is considering its first locally listed Bitcoin ETF to compete with Singapore and Hong Kong, which have favourable cryptocurrency regulations. The SEC is exploring investment options for individuals and institutions in Bitcoin ETFs on local exchanges, although direct Bitcoin ETFs have not yet been approved.

In another development, Osprey Funds plans to convert its Osprey Bitcoin Trust (OBTC) into an ETF after an acquisition deal with Bitwise collapsed. The firm announced it would file a Form S-1 with the U.S. SEC to facilitate this transition. OBTC, launched in February 2021, offers investors easy Bitcoin exposure at a competitive 0.49% management fee.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Tags: BitcoinBitwiseETF
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Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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