Bitwise Bitcoin ETF Trust ETF

Overview: The Bitwise Bitcoin ETF (BITB) is an exchange-traded fund listed on NYSE Arca, launched on January 10, 2024, providing direct exposure to bitcoin.

Investment Objective: Seeks to track the value of bitcoin held by the trust, less operational expenses, using the CME CF Bitcoin Reference Rate - New York Variant (BRRNY) for daily valuation.

Fee Structure: Features a 0.20% management fee, with a 0% promotional fee for the first six months on the first $1 billion in assets.

Holdings and Custody: Holds actual bitcoin (in specie), with Coinbase Custody Trust Company as the digital asset custodian and Bank of New York Mellon as the administrator.

Risk Profile: Not suitable for all investors due to high volatility and risk of significant or complete loss; not registered under the Investment Company Act of 1940.

Performance and AUM: As of July 2025, trades at approximately $64.78, with a market cap of $4.88 billion and a 52-week range of $27.02 to $66.49.

Background: Bitwise Asset Management is a crypto-native asset manager founded in 2017, managing over $10 billion in assets.

Products: Specializes in crypto index funds and single-asset ETFs, providing institutional-grade exposure to digital assets.

Bitcoin ETFs: The Bitwise Bitcoin ETF (BITB) launched in January 2024 with a competitive 0.20% fee.

Transparency: One of the few issuers to publish on-chain proof of reserves, showing wallet addresses for full auditability.

Custody: Uses Coinbase Custody with multi-institutional backup custody arrangements.