Grayscale has deployed a new exchange trading fund that will allow investors to access companies that employ Bitcoin as part of their financial strategy.
The fund, named the Grayscale Bitcoin Adopters ETF (BCOR), was announced on April 30th, reflects the continued push by asset managers to Bitcoin-themed investment products.
According to Grayscale, BCOR tracks the Indxx Bitcoin Adopters Index. It consists of companies that have allocated a portion of the Ministry of Finance to Bitcoin. The company emphasized that ETFs will target companies that view Bitcoin as both a hedge against inflation and a tool for diversifying the Ministry of Finance.
BCOR has access to investors in a diverse portfolio of global equities in seven sectors and 15 industries. These companies are considered leaders in Bitcoin adoption and serve as indicators of broader institutional sentiment towards flagship digital assets.
Grayscale's latest move reflects similar products from Bitwise, a Bitcoin Standard ETF that tracks companies with over 1,000 BTC. While Bitise focuses on key owners, Grayscale's BCOR offers a more diverse approach to products.
David Lavalle, global head of ETFs at Grayscale, explained that the company's new fund is a strategic response to the rising wave of companies' Bitcoin investments.
He added:
“As more companies integrate Bitcoin into their balance sheets, BCOR offers a future-looking strategy to capture this momentum through traditional stock markets.”
Corporate Bitcoin Holdings is rising
The rollout of Grayscale's new product coincides with a significant increase in corporate Bitcoin Holdings this year.
Data from Bitwise shows that the company added about 100,000 BTC in April 2025, bringing its total holding to about 750,000 BTC. This means that these companies collectively own 3.57% of their total BTC supply.
Market observers believe this trend will continue and further contribute to the overall growth of the Bitcoin market.
Blockstream CEO Adam Back suggested that companies increasing their Bitcoin reserves are positioning early for what he described as “hyper-bitcoinization.”
He said:
“(BTC) Treasury is an arbitration of dislocation between Bitcoin's future and the Fiat world today. Hyper-Bitcoinization is the sustainable and scalable $100-200 trillion trade frontline.
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