#BitwiseBitcoinETF

The Bitwise Bitcoin ETF (ticker: BITB) is an exchange-traded fund that offers investors exposure to bitcoin through a professionally managed vehicle. Launched by Bitwise Asset Management, BITB allows investors to gain access to bitcoin without the complexities of direct ownership, such as custody and security concerns.

BITB is listed on the NYSE Arca exchange under the ticker symbol "BITB." The fund's investment objective is to reflect the performance of bitcoin, less the expenses and liabilities of the fund. It achieves this by holding bitcoin directly and determining its net asset value (NAV) based on the CME CF Bitcoin Reference Rate - New York Variant (BRRNY).

One of the notable features of BITB is its cost structure. The fund charges a management fee of 0.20% per annum. Additionally, for the first six months following its launch, Bitwise has waived the entire management fee on the first $1 billion of assets under management, effectively offering a 0% fee during this period.

As of December 27, 2024, BITB has approximately 74.42 million shares outstanding. The fund is administered by Bank of New York Mellon and operates as an exchange-traded product (ETP).

Investors interested in BITB can purchase shares through brokerage accounts, similar to buying shares of other ETFs. This structure provides a convenient and regulated means to gain exposure to bitcoin's price movements without the need to manage digital wallets or private keys.

It's important to note that investing in BITB carries risks associated with the volatility of bitcoin. Potential investors should carefully consider these risks, along with their investment objectives and financial situation, before investing.