The Bitwise Bitcoin ETF (ticker: BITB) offers investors direct exposure to Bitcoin through a regulated exchange-traded fund. Launched on January 10, 2024, and listed on NYSE Arca, BITB is managed by Bitwise Investment Advisers, LLC, a firm specializing in crypto asset management.
As of December 24, 2024, the fund's key details are:
Net Assets (AUM): Approximately $4 billion
Shares Outstanding: 75,280,000
Sponsor Fee: 0.20% per annum
Bitcoin Holdings: 40,996.98 BTC
Bitcoin per Share: 0.000545 BTC
Market Price per Share: $50.64
Net Asset Value (NAV) per Share: $50.52
Premium/Discount: 0.23% premium
The fund's custodian is the Bank of New York Mellon, with Coinbase Custody Trust Co., LLC serving as the digital asset custodian. BITB's investment objective is to reflect the performance of Bitcoin, less expenses and liabilities. It provides a convenient solution for investors seeking Bitcoin exposure without the complexities of direct ownership.
Investing in BITB carries significant risks, including high volatility and the potential for substantial or complete loss of investment. The fund is not registered under the Investment Company Act of 1940 and lacks its protections. Prospective investors should carefully consider these risks and review the fund's prospectus before investing.
