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Launched

Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF

BITCNYSE ArcaBitwiseC

$37.65+0.01 (+0.04%)

As of Nov 2, 2026, 3:55 PM ET

C44/ 100

Rank 33 of 46 in Tactical Allocation

C44/100Rank 33 of 46inTactical Allocation
Intraday session: up, 72 prints from 37.63 to 37.65. Range 37.58 to 37.66. Use the arrow keys to read each point.37.5837.6037.6237.6610 AM12 PM2 PM4 PM
Expense ratio
0.88%*
Fund size
$14M
1Y total return
−4.6%
Yield · Last 12 months
3.26%
Holdings
2
Avg volume · 30D
3.98K sh
52W range
low $35.09high $42.28
Launched

*After a fee waiver that ends May 1, 2027. Without it: 1.12%.

The ETF.net BITC Grade

Based on 4 of 6 pillars

C

Score 44 out of 100

Category
Tactical Allocation⁠
Rank
33 of 46
Six-pillar profile for BITC. Scores out of 100: Cost 59, Risk 13, Mission not scored, Tradability 44, Holdings not scored, Durability 51. Strongest: Cost (59). Weakest: Risk (13). Based on 4 of 6 pillars.

Score 44 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B59 out of 100
    Rank 19 of 46

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F13 out of 100
    Rank 45 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C44 out of 100
    Rank 29 of 46

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C51 out of 100
    Rank 29 of 46

Our read on BITC

ETF.net Research

In short

CNot a bitcoin fund, not a bond fund. BITC flips between bitcoin futures and Treasuries on a rules-based trend signal, holding one or the other rather than blending them. A momentum switch in an ordinary ETF wrapper, live since 2023.

Stated mandate

The Fund seeks capital appreciation through a rules-based rotation between bitcoin futures and U.S. Treasuries based on market momentum.

Why people hold it

  • Binary by design: a rules-based momentum signal decides whether the fund sits in bitcoin futures or in U.S. Treasuries, so the switch is mechanical rather than a judgment call.
  • Crypto-linked exposure via bitcoin futures inside a 1940 Act ETF, so it lives in a normal brokerage account with no wallets or private keys.
  • Running since March 2023, so the rotation rules have been through real bitcoin swings rather than just a backtest.sec.gov

Worth knowing

  • Fee is 0.88% net of a waiver through May 1, 2027 (1.12% gross), near the category median but above cheaper tactical peers like ENDW at 0.22% and PBL at 0.45%.
  • Trend signals react after a move, not before, so choppy markets can mean stepping out following a drop and back in after a bounce.
  • Small and lightly traded, so spreads can run wider than in mainstream multi-asset funds.

BITC Holdings

Asset class
Other
Holdings
2
Top-10 weight
100%
Largest holding
Treasury Bill 0 1/21/202791.1%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTreasury Bill 0 1/21/202791.14%13,000,000$12.9M23
2No dataCash8.86%0$1.25M422

Showing 1–2 of 2 holdings

BITC Performance

Launched Mar 20, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
BITC$9,542
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. BITC $9,542. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BITC. Periods over one year show the average yearly return.
PeriodBITC
Year to date+3.1%
1 month−2.3%
3 months+4.9%
1 year−4.6%
3 yearsper year+25.6%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BITC
YearReturn barBITC
2026 YTD+3.1%
2025−20.4%
2024+102.8%
2023+38.3%

History from Mar 21, 2023

BITC in the news

BITC Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.26%Last 12 months
Payout per share
$1.23Last 12 months
Last payment
$1.23 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 22, 2023 $1.88; Dec 26, 2024 $20.22; Dec 26, 2025 $1.23. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 26, 2025Dec 30, 2025$1.23
Dec 26, 2024Dec 30, 2024$20.22
Dec 22, 2023Dec 28, 2023$1.88

$10,000 in BITC 3 years ago paid $7,901 in dividends.

BITC Risk

Risk pillarF13 out of 100Rank 45 of 46 in Tactical Allocation
How much the fund’s monthly returns vary, scaled to a year.
43.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.61
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−33.2%
43 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.53
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BITC Cost

Compare BITC and ENDW

Overpaying vs ENDW, cheapest in Tactical Allocation

$12,147

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BITC 0.88%

    $16,705

  • ENDW 0.22% Cheapest

    $4,558

$10,000
30 years

Cost over time

  • BITC 0.88%
  • ENDW 0.22%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BITC $16,705ENDW $4,558

Year by year

YearBITCENDWOverpaying
10$1,559$401$1,158
20$5,891$1,561$4,330
30$16,705$4,558$12,147
How the 0.88% is worked out

Full fee 1.12%− waiver 0.24%= you pay 0.88%

The waiver ends May 1, 2027. After that the fee is 1.12% unless Bitwise renews it. Source: prospectus, Apr 2026.

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