The Bitwise Bitcoin ETF (BITB) is a U.S. spot Bitcoin exchange-traded product listed on NYSE Arca. Sponsored by Bitwise Investment Advisers, LLC, the fund holds Bitcoin directly and offers exposure through shares bought and sold in a brokerage account.
Fees and Custody
Bitwise lists a 0.20% annual sponsor fee. Coinbase Custody Trust Company is the digital asset custodian, and Bank of New York Mellon is the administrator and trust custodian. Those roles support fund operations without giving shareholders control of the Bitcoin's private keys.
The sponsor fee reduces the assets backing the shares over time. Brokerage charges and the bid-ask spread are separate costs when trading.
Ownership and Risks
BITB shares provide an interest in the trust rather than spendable Bitcoin. Their market price can trade at a premium or discount to net asset value, and investors remain exposed to Bitcoin price volatility and custody failures.
BITB is not registered under the Investment Company Act of 1940 and is not afforded that Act's protections. See our BITB review for the detailed assessment.
