BTOP
Bitwise Bitcoin and Ether Equal Weight Strategy ETF
BTOP takes a balanced approach to the two biggest assets in crypto. Crafted by the crypto experts at Bitwise, the ETF provides directional exposure to Bitcoin and Ethereum by investing equally in regulated CME futures contracts for each asset. Available in traditional brokerage accounts. The fund does not invest directly in Bitcoin or Ethereum.
Contact UsWhy Invest in BTOP
Many investors take an either/or approach to Bitcoin and Ethereum despite the distinct strengths, weaknesses, and use cases of each. BTOP provides a both/and alternative, offering equal exposure to Bitcoin and Ethereum via regulated futures contracts in a single, regulated ETF—all backed by one of the world's leading crypto specialists. The fund does not invest directly in Bitcoin or Ethereum.
Learn MoreDirectional Exposure to the Larger Crypto Market
BTOP offers directional exposure to two assets that have historically made up 60-80% of the global crypto market: Bitcoin, the original and most valuable crypto asset (by market cap); and Ethereum, the “smart-contract” platform powering NFTs, stablecoins, DeFi, and other applications.
Equal Weighting for a Balanced Approach
Both Bitcoin and Ethereum have strong track records, unique investment characteristics, and significant growth potential—not to mention uncertain futures. The fund’s equal-weighting strategy lets investors avoid having to pick a winner by seeking balanced exposure to both themes.
Professionally Managed Exposure From a Crypto Specialist
For more than six years, Bitwise has helped leading investors understand and access crypto’s opportunities while managing its risks. We manage your investment using systems built for institutions, from custody and trading to regulation and compliance.
Fund Summary
About the BTOP Fund
Fund Details
Data as of 10/28/2024
Ticker
BTOP
Net Assets (AUM)
$8,544,314
SEC Yield**
2.57%
Fund Type
ETF
Net Expense Ratio*
0.85%
Legal Counsel
Chapman and Cutler, LLP
CUSIP
091748400
Gross Expense Ratio*
0.95%
Administrator
Bank of New York Mellon
ISIN
US0917484000
Inception Date
September 29, 2023
Distributor
Foreside Fund Services, LLC
Exchange
NYSE Arca
Adviser
Bitwise Investment Manager, LLC
Custodian
Bank of New York Mellon
* The total annual fund operating expenses are 0.95%. The Fund's investment adviser has contractually agreed to waive its advisory fees and/or assume as its own expense certain expenses otherwise payable by the Fund to the extent necessary to ensure that total annual fund operating expenses do not exceed 0.85% of average net daily assets until October 2, 2025.
** 30-Day SEC Yield – Reflects the dividends and interest earned during the previous month, after the deduction of the fund’s expenses. This is also referred to as the “standardized yield.” Data as of September 30, 2024.
ETF Holdings
Data as of 10/28/2024
Exposure Weight (%)
Holdings are subject to change. Current and future holdings are subject to risk.
Premium / Discount
Data as of 10/28/2024
Net Asset Value (NAV) and Market Price
Data as of 10/28/2024
To
30 Day Median Bid-Ask Spread: The spread is calculated from (i) sampling the ETF's NBBO as of the end of each 10-second interval during each trading day of the last 30 calendar days; (ii) dividing the difference between each such bid and offer by the midpoint of the NBBO; and (iii) identifying the median of those values.
BTOP Quarter-End Performance
Data as of 09/30/2024
Performance data quoted represents past performance and is no guarantee of future results. Short-term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of one year or less are not annualized. For the most recent month-end performance, please call 1-866-880-7228.
Performance of one year or less is not annualized. NAV performance is calculated based on the official closing values as of 4:00 p.m. ET. Market Price performance reflects the midpoint of the bid-ask spread as of 4:00 p.m. ET, and does not represent the returns an investor would receive if shares were traded at other times. Fund returns are calculated net of expenses. Shares are subject to a 0.85% Expense Ratio that includes the management fee, custody charges for holding the fund’s assets charged by the custodian, and customary fees and expenses of the fund administrator and auditor.