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BTCW

GradeCChicago Board Options Exchange

WisdomTree Bitcoin Fund

Crypto · WisdomTree · Inception 2024-01-11 · SEC filings

$89.04−2.07 (−2.27%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Jan 11, 2024.
Intraday session: down, 68 prints from 91.11 to 89.04. Range 88.48 to 90.73. Use the arrow keys to read each point.$88.50$89.50$90.00$90.5010 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$171M
1Y return
−23.3%
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$85.73
52W range
low $61.45high $133.92

The ETF.net BTCW Grade

C

54/ 100

Rank 11 of 13 in Spot Bitcoin⁠

Confidence High

Six-pillar profile for BTCW. Scores out of 100: Cost 35, Risk 47, Mission 100, Tradability 27, Holdings 100, Durability 45. Strongest: Mission (100). Weakest: Tradability (27). Leans toward Mission and Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 54 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank9/13 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank6/12 · top 50%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 47
    Category rank10/13 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 27
    Category rank11/13 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 100
    Category rank1/2 · top 50%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 45
    Category rank10/13 · bottom quartile

Graded as of Sep 22, 2026

Our read on BTCW

ETF.net Research

CWisdomTree filed for a spot bitcoin ETF in 2021, absorbed an SEC rejection, refiled, and was in the first batch to list in January 2024. BTCW is the plain-vanilla version: real bitcoin in institutional custody, priced off the CME CF reference rate.

Stated mandate

The Fund seeks exposure to bitcoin’s price, net of the Trust’s expenses and liabilities. It holds bitcoin and values its shares using the CME CF Bitcoin Reference Rate – New York Variant.

Why people hold it

  1. 01Simple plumbing: the trust holds actual bitcoin at Coinbase Custody and values shares off the CME CF Bitcoin Reference Rate (New York Variant). No futures, no roll costs, no leverage.sec.gov
  2. 02One asset, one job. The portfolio is bitcoin and nothing else, tracking the reference rate net of expenses, so the mandate and the holdings say the same thing.
  3. 03The 0.25% sponsor fee is the trust's only expected recurring expense, and it sits right at the middle of the spot bitcoin field rather than the expensive end.sec.gov

Worth knowing

  1. 01Thinly traded next to the category's giants, so spreads and limit orders carry more weight here.
  2. 02Cheaper shelf-mates exist for the same underlying asset, including Grayscale's Mini Trust (BTC), Franklin's EZBC and VanEck's HODL.
  3. 03Not registered under the Investment Company Act of 1940, so the usual fund-style protections don't apply and bitcoin's full price swings pass through.wisdomtree.com

BTCW Holdings

As of Sep 22, 2026, 12:09 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
BTC100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001BTCBITCOIN100.01%2,102$171M6

Showing 1–1 of 1 holdings

BTCW Performance

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

BTCW$7,672
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BTCW $7,672. SPY $11,723. Use the arrow keys to read each point.$4,698$8,491$12,285Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 BTCW. Periods over one year show the average yearly return.
PeriodBTCW
Year to date−1.7%
1 month+11.9%
3 months+33.9%
1 year−23.3%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 BTCW
YearReturn barBTCW
2026 YTD−1.7%
2025−6.1%
2024+100.0%

Since listing, Jan 11, 2024

BTCW in the news

ETF.net Research hasn’t filed on BTCW yet — coverage lands here as it’s written.

BTCW Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

BTCW Risk

How much the fund’s monthly returns vary, scaled to a year.
54.8%
Annualised · 31 months to Aug 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.
0.60
vs 3-month T-bills · 31 months to Aug 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.
−53.4%
32 months · trough Jun 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.
2.19
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.

BTCW Cost

Expense ratio0.25%
  • The middle half of Spot Bitcoin funds
  • Median 0.23%

6 of the 12 Spot Bitcoin funds charge less.

BTCW costs $25.00 a year on $10,000. The median Spot Bitcoin fund costs $23.00.