The Bitwise Bitcoin ETF (BITB) is an exchange-traded fund that offers investors direct exposure to Bitcoin through a traditional brokerage account. Launched on January 11, 2024, BITB provides a convenient and cost-effective means to invest in Bitcoin without the complexities of managing digital wallets or dealing with cryptocurrency exchanges.
BITB's management fee is among the lowest for spot Bitcoin ETFs at 0.20% per annum. Notably, for the first six months following its launch, the fee was waived entirely on the first $1 billion in assets, making it an attractive option for cost-conscious investors.
The fund's assets are securely held with Coinbase Custody Trust Company, ensuring robust security measures for investors' holdings. Additionally, the Bank of New York Mellon serves as the fund's administrator, and KPMG acts as the auditor, reflecting the involvement of reputable institutions in BITB's operations.
As of December 28, 2024, BITB is trading at $51.42 per share, reflecting a slight decrease of 1.10% from the previous close. The fund's intraday trading has seen a high of $53.00 and a low of $50.77, indicating some volatility consistent with the underlying Bitcoin market.
Investors considering BITB should be aware of the inherent risks associated with cryptocurrency investments, including significant volatility and the potential for substantial losses. It's essential to conduct thorough research and consider one's risk tolerance before investing in such products.
For more detailed information, including the fund's prospectus and holdings, you can visit the official Bitwise Bitcoin ETF website.
