Bitwise Bitcoin ETF BITB
Bitwise Bitcoin ETF (the "Trust") is a Delaware statutory trust formed on August 29, 2019. The Trust continuously issues common Shares ("Shares"), representing units of undivided beneficial interest in and ownership of the Trust. The Shares are listed on the NYSE Arca Inc. (the "Exchange") under the ticker symbol "BITB." The Trust commenced operations on January 10, 2024 and commenced trading on the Exchange on January 11, 2024.
The Trust's investment objective is to seek to provide shareholders of the Trust ("Shareholders") with exposure to the value of bitcoin held by the Trust that is reflective of the actual bitcoin market in which investors can purchase or sell bitcoin, less the expenses of the Trust's operations and other liabilities. In seeking to achieve its investment objective, the Trust holds bitcoin and establishes its net asset value (the "NAV") by reference to the CME CF Bitcoin Reference Rate - New York Variant (the "BRRNY"). The BRRNY was designed to provide a daily, 4:00 p.m. EST reference rate of the U.S. dollar price of one (1) bitcoin and is calculated by CF Benchmarks Ltd. (the "Benchmark Provider") based on an aggregation of executed trade flow of major bitcoin trading platforms (the "Constituent Platforms").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Total operating expenses | $8.1M | $4.6M | — |
| Pre-tax income | -$344.4M | $1.59B | — |
| Income tax | $0 | $0 | $0 |
| Net income | -$344.4M | $1.59B | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Total assets | $3.38B | $3.77B | $0 |
| Total liabilities | $14.4M | $9.4M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Operating cash flow | $39.1M | -$2.17B | — |
| Financing cash flow | -$39.1M | $2.17B | — |
| Buybacks | $2.46B | $1.73B | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-102028.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | — | — | — |
| Gross profit | — | — | — |
| Net income | — | $1.59B | -$344.4M |
Recent filings and events
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Annual report filed Form 10-K
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Annual report filed Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6221
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| GLD | SPDR GOLD TRUST | $129.19B | — | — |
| IBIT | iShares Bitcoin Trust ETF | $59.81B | — | — |
| IAU | ISHARES GOLD TRUST | $59.26B | — | — |
| GLDM | World Gold Trust | $27.23B | — | — |
| SLV | iShares Silver Trust | $26.22B | — | — |
| ETHA | iShares Ethereum Trust ETF | $20.82B | — | — |
| GBTC | Grayscale Bitcoin Trust ETF | $10.79B | — | — |
| AGQ | ProShares Trust II | $6.92B | — | — |