Bitwise Dogecoin ETF BWOW

The Bitwise Dogecoin ETF (the "Trust") is an exchange-traded product that issues common shares of beneficial interest ("Shares") that are listed on NYSE Arca, Inc. (the "Exchange") under the ticker symbol "BWOW." The Trust's investment objective is to seek to provide exposure to the value of Dogecoin held by the Trust, less the expenses of the Trust's operations and other liabilities. In seeking to achieve its investment objective, the Trust will hold Dogecoin and establish its net asset value ("NAV") by reference to the CF Dogecoin-Dollar US Settlement Price ("Pricing Benchmark"). The Trust is sponsored and managed by Bitwise Investment Advisers, LLC (the "Sponsor").

The Trust intends to provide direct exposure to the value of Dogecoin held by the Trust with Coinbase Custody Trust Company, LLC ("Coinbase Custody" or the "Dogecoin Custodian"). The Dogecoin Custodian is chartered as a New York State limited liability trust company that provides custody services for digital assets. The Dogecoin Custodian is not insured by the Federal Deposit Insurance Corporation (the "FDIC") but carries insurance provided by private insurance carriers. The net assets of the Trust and its Shares are valued on a daily basis with reference to the Pricing Benchmark, a standardized reference rate published by CF Benchmarks Ltd. (the "Benchmark Provider") that is designed to reflect the performance of Dogecoin in U.S. dollars. The Pricing Benchmark is calculated by the Benchmark Provider based on an aggregation of executed trade flow of major Dogecoin trading platforms ("Constituent Platforms"). The Pricing Benchmark is calculated as of 4:00 p.m. Eastern Standard Time ("EST").