#BitwiseBitcoinETF Bitcoin ETF Bitwise (the “Trust”) is an exchange-traded product that issues primary shares of beneficial interest (“Shares”) that are expected to be listed on NYSE Arca, Inc. (the “Exchange”) under the ticker symbol “BITB”. The Trust’s investment objective is to provide exposure to the value of Bitcoin as necessary for the Trust to cover its operating expenses and other obligations. In order to achieve its investment objectives, the Bitcoin Trust will establish its net asset value (“NAV”) as reported on the CME CF Bitcoin Reference Rate - New York Variant (“BRRNY”). BRRNY is underwritten by CF Benchmarks Ltd. (the “Benchmark Poster”) based on the aggregation of various trading transactions of major Bitcoin trading platforms (“Warehouse Platforms”). The Trust is sponsored and administered by Bitwise Investment Advisers, LLC (“Sponsor”).