#BitwiseBitcoinETF

The Bitwise Bitcoin ETF (BITB) is a recently launched exchange-traded fund that provides investors with direct exposure to Bitcoin through a traditional brokerage account. Managed by Bitwise Asset Management, a firm specializing in crypto-focused investment products, BITB invests directly in Bitcoin, aiming to track its performance while accounting for the fund’s expenses. This ETF offers a convenient and regulated way to gain exposure to Bitcoin without the challenges of managing cryptocurrency custody, wallets, or private keys.

Listed on NYSE Arca, BITB allows investors to trade shares throughout the trading day. With a management fee of 0.20% annually, the fund is competitively priced. Moreover, for the first six months after its launch, Bitwise waived management fees on the first $1 billion of assets under management to attract investors.

BITB is designed for individuals looking to diversify their portfolios with cryptocurrency while mitigating some of the risks tied to direct ownership, such as security and custodial issues. However, it remains a high-risk investment subject to the volatility of the Bitcoin market. It is also not registered under the Investment Company Act of 1940, so it lacks certain investor protections.

Investors should review the fund's prospectus and risks before considering BITB as part of their portfolio.