BTOP
·NYSE
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Key Stats
Assets Under Management
5.89MUSD
Fund Flows (1Y)
5.36MUSD
Dividend Yield
70.70%
Discount/Premium to NAV
-0.03%
Shares Outstanding
275.00K
Expense Ratio
0.89%
About Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF
Issuer
Bitwise Investment Advisers, LLC
Brand
Bitwise
Home Page
Inception Date
Sep 29, 2023
Structure
Open-Ended Fund
Index Tracked
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Management Style
Active
Dividend Treatment
Distributes
Distribution Tax Treatment
No distributions
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
Bitwise Investment Manager LLC
Distributor
Foreside Fund Services LLC
BTOP is designed to provide exposure to the two most well-known digital assets, bitcoin and ether. It does so by equally investing in cash-settled, front-month CME bitcoin and ether futures contracts while also considering back-month contracts. Both cryptocurrencies are split into a 50-50 allocation and will be rebalanced quarterly. The fund will roll the contracts monthly, as they near expiration, which may also lead to a higher-than-normal portfolio turnover. Note that this investment is exclusively through a wholly-owned subsidiary organized under the laws of the Cayman Islands and is capped at 25% at each quarter end. To provide liquidity and collateral, up to 75% of the remaining assets of the fund will be invested in money market instruments. It may also utilize reverse repurchase agreements in maintaining the desired level of exposure to assets. The bitcoin and ether future contracts are cash settled based upon the CME CF Bitcoin-Dollar Reference Rate and CME CF Ether-Dollar Reference Rate, respectively.
Classification
Asset Class
Asset Allocation
Category
Asset Allocation
Focus
Target Outcome
Niche
Capital Appreciation
Strategy
Active
Geography
Global
Weighting Scheme
Proprietary
Selection Criteria
Fixed
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | -7.33% | -21.85% | -16.24% | -52.40% | +12.24% | +12.24% |
NAV Total Return | +0.80% | -20.90% | -9.02% | -19.11% | +1.17% | +1.17% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
No data is currently available
Asset
No data is currently available
Region
No data is currently available
Investment Style
No data is currently available
Top 10 Holdings
No data is currently available
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2024-12-26 | 2024-12-26 | 2024-12-30 | 20.816 |
| 2023-12-22 | 2023-12-26 | 2023-12-28 | 1.988 |
Premium/Discount Chart
Premium/Discount to NAV
Price
1M
Assets Under Management
Assets Under Management
1M
Fund Flows
Inflows
Outflows
1M
