BITB — Bitwise Bitcoin ETF

BITB Price Performance — Growth of $10,000

Value of a $10,000 investment in BITB over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

BITB Drawdown

The "underwater" chart: BITB's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Bitwise Bitcoin ETF (BITB) is a cryptocurrency fund issued by Bitwise Investments that tracks one of 11 ETFs in the Crypto category. With an asset base of $2.12 billion and a share price of $34.63, the fund demonstrates significant investor adoption relative to its peers. Despite this scale, the ETF holds an overall rank of #438 out of 458 tracked funds across all categories, earning an ETFValuer grade of F with a score of 33.8 out of 100. The fund carries an expense ratio of 0.2% and offers a dividend yield of 0.00%, indicating it does not distribute income to shareholders. This combination of high assets under management and a low grade suggests a divergence between market capitalization and the fund's current performance metrics. The fund's position within the broader market is reflected in its ranking, which places it near the bottom of the total universe of tracked ETFs.

Recent performance data reveals a pattern of short-term volatility mixed with substantial long-term declines. The fund posted a 1-day return of -1.70% and a 1-week return of -3.99%, following a 1-month gain of +6.98%. Over longer horizons, the trend shifts sharply negative, with a 3-month return of -17.05% and a 6-month return of -27.17%. Year-to-date performance stands at -29.04%, while the 1-year return is -45.52%. Data for the 3-year period is not available, leaving the long-term historical record incomplete. This trajectory shows a reversal from the recent monthly gain into sustained losses over the past year.

The fund is assigned a Very High volatility label, reflecting the unstable price movements characteristic of its asset class. A Sharpe ratio of -1.14 indicates that the returns generated have not compensated investors for the risk taken, resulting in a negative risk-adjusted performance. The maximum drawdown of -53.33% highlights the potential for severe capital erosion during market downturns. Although the beta value is not provided, the extreme drawdown and negative Sharpe ratio suggest significant sensitivity to market shifts. This combination of metrics implies that the fund experiences large swings in both directions, with downside moves being particularly pronounced. Investors face a high probability of substantial losses relative to the returns achieved over the measured periods.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

BITB Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is — and average daily volume is 1.5M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $2.12B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: BITB is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

BITB Performance History

How BITB Compares to Other Crypto ETFs