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- The fund, launched on April 30th, will track diverse groups of companies with Bitcoin financial strategies.
- Notable ingredients include Michael Saylor’s strategy, mining company Marathon Digital Holdings (MARA), Tesla and Japan’s BTC-centric company Metaplanet.
- The launch comes amid a rapid rise in facility Bitcoin purchases.
Asset Manager Grayscale has introduced a new exchange-traded fund (Grayscale Bitcoin Adapter ETF) designed to expose investors to companies that actively hold Bitcoin on their balance sheets.
Launched on April 30, the fund tracks a diverse group of companies with a Bitcoin financial strategy across seven sectors, including mining, automotive and energy.
Notable ingredients include Michael Saylor’s strategy, mining company Marathon Digital Holdings (MARA), Tesla, Japanese BTC-centric company Metaplanet, and aerospace energy player KULR Technology Group.
Introducing the Grayscale Bitcoin Adapter ETF (ticker: $ bcor)) $ bcor Provides touch to the added companies #bitcoin As a protected asset for the Ministry of Finance. These companies are in line with several sectors and industries, all tied together by adopting a common thread: Bitcoin.
look… pic.twitter.com/o0fx2or50q
– Grayscale (@grayscale) April 30, 2025
The ETF reflects an increasing trend in companies to adopt Bitcoin as a strategic reserve asset, aiming to hedge and increase shareholder value in Fiat currency inflation.
Accelerating corporate demand for BTC
The launch comes amid a rapid rise in facility Bitcoin purchases.
Fidelity Digital Assets recently reported that public companies acquired over 30,000 BTC per month in 2025, significantly outpacing supply from miners.
According to Fidelity, Bitcoin’s circular exchange supply is driven by a continuous accumulation of companies.
Michael Saylor’s strategy is the largest corporate Bitcoin holder other than exchange and continues to actively purchase.
Bitcoin could hit new highs thanks to corporate accumulation
According to a client memo from research and brokerage Bernstein, Bitcoin may be poised to reach new highs as corporate accumulation and updated ETF inflows tighten supply.
Analysts led by Gautam Chhugani said short-term comparisons of Bitcoin and assets such as gold and NASDAQ could be misleading, with more meaningful indicators including a decline in retail sales, an increased demand for the Corporate Treasury and a strong inflow of ETFs.
The memo follows the announcement of Twenty One Capital, a new Bitcoin Corporate Treasury venture launched last week by SoftBank, Tether, Bitfinex and Cantor Fitzgerald, starting at 42,000 BTC.
The venture is backed by $900 million from SoftBank, $1.5 billion from Tether and $600 million from Bitfinex, and plans to merge with Cantor Equity Partners via SPAC to raise an additional $585 million upon closure.
Bernstein likened strategy to strategy. The strategy has raised $22 billion in 2024 and $8.6 billion so far in 2025, expanding its Bitcoin holdings.
Analysts note that the company’s accumulation is becoming more competitive, with around 80 companies holding a total of 700,000 BTC. This is 3.4% of total supply.
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