The Bitwise Bitcoin ETF (BITB) is an exchange-traded fund that seeks to provide exposure to the value of bitcoin. It holds bitcoin and establishes its net asset value based on the CME CF Bitcoin Reference Rate - New York Variant (BRRNY).
BITB is a relatively new ETF, having launched in 2021. It has gained popularity as a way for investors to gain exposure to bitcoin without having to directly buy and hold the cryptocurrency.
BITB is subject to a number of risks, including the risk of volatility in the price of bitcoin, the risk of hacking or other cyberattacks, and the risk of regulatory changes. However, it also offers some potential advantages over direct bitcoin ownership, such as lower transaction costs and greater liquidity.
