tl;dr
Grayscale has launched the Grayscale Bitcoin Adopters ETF (BCOR), which tracks the Indxx Bitcoin Adopters Index. This ETF includes companies that have allocated part of their treasury to Bitcoin, offering investors exposure to a diversified portfolio of global equities across multiple sectors and in...
Grayscale has launched the Grayscale Bitcoin Adopters ETF (BCOR), designed to give investors exposure to companies integrating Bitcoin into their treasury strategies as a hedge and for diversification. This ETF tracks the Indxx Bitcoin Adopters Index, which includes firms that have allocated part of their treasury to Bitcoin, providing a diversified portfolio spanning seven sectors and 15 industries worldwide.
The fund targets businesses leveraging Bitcoin both as a safeguard against inflation and as a strategic treasury diversification tool. BCOR reflects a growing corporate trend in Bitcoin adoption, with total corporate Bitcoin holdings reportedly reaching about 750,000 BTC by April 2025—roughly 3.57% of Bitcoin’s total supply.
David LaValle, Grayscale’s Global Head of ETFs, describes BCOR as a strategic move to capture momentum from the increasing number of companies integrating Bitcoin into their balance sheets. The ETF offers investors a forward-looking approach through equity markets, positioning them to benefit from accelerating institutional interest.
Grayscale’s BCOR differs from similar products like Bitwise’s Bitcoin Standard ETF by offering broader diversification rather than focusing solely on major Bitcoin holders. The rise in corporate Bitcoin reserves signifies confidence among businesses in Bitcoin’s role as a dominant store of value, a trend supported by industry leaders like Adam Back, CEO of Blockstream, who foresees “hyperbitcoinization” bolstering Bitcoin’s long-term prominence in treasury management.