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Launched · SEC filings

WisdomTree Bitcoin Fund

BTCWCboeWisdomTreeC

$78.95−1.03 (−1.29%)

At close: Nov 9, 2026, 4:00 PM ET

C53/ 100

Rank 11 of 13 in Spot Bitcoin

C53/100Rank 11 of 13inSpot Bitcoin
Intraday session: down, 79 prints from 79.98 to 78.95. Range 78.39 to 79.69. Use the arrow keys to read each point.78.5078.7579.2579.5079.7510 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$156M
1Y total return
−25.2%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
18.7K sh
52W range
low $61.45high $112.61
Launched
Filings
SEC EDGAR

The ETF.net BTCW Grade

C

Score 53 out of 100

Category
Spot Bitcoin⁠
Rank
11 of 13
Six-pillar profile for BTCW. Scores out of 100: Cost 35, Risk 52, Mission 100, Tradability 19, Holdings 100, Durability 42. Strongest: Mission (100). Weakest: Tradability (19). Leans toward Mission and Holdings.

Score 53 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.
    D35 out of 100
    Rank 7 of 13

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 12

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C52 out of 100
    Rank 3 of 13

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F19 out of 100
    Rank 11 of 13

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A100 out of 100
    Rank 1 of 2

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C42 out of 100
    Rank 10 of 13

Our read on BTCW

ETF.net Research

In short

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

  • Simple 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
  • One 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.
  • The 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

  • Thinly traded next to the category's giants, so spreads and limit orders carry more weight here.
  • Cheaper shelf-mates exist for the same underlying asset, including Grayscale's Mini Trust (BTC), Franklin's EZBC and VanEck's HODL.
  • Not 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 Performance

Launched Jan 11, 2024

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.Not enough history yet.
BTCW$7,485
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,088
Nov 6, 2025 to Nov 6, 2026. BTCW $7,485. SPY $11,088. Use the arrow keys to read each point.$6,000$8,000$10,000$12,000Nov 2025May 2026Nov 2026

Nov 6, 2025 – Nov 6, 2026

Returns run to the Nov 6, 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−13.7%
1 month−11.6%
3 months+17.5%
1 year−25.2%
3 yearsFund is under 3 years oldper yearNo data
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 BTCW
YearReturn barBTCW
2026 YTD−13.7%
2025−6.1%
2024+100.0%

Since listing, Jan 11, 2024

BTCW in the news

BTCW Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

BTCW Risk

Risk pillarC52 out of 100Rank 3 of 13 in Spot Bitcoin
How much the fund’s monthly returns vary, scaled to a year.
53.6%
Annualised · 33 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.
0.56
vs 3-month T-bills · 33 months 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.
−53.4%
33 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.

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

BTCW Cost

Compare BTCW and MSBT

Overpaying vs MSBT, cheapest in Spot Bitcoin

$2,227

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

  • BTCW 0.25%

    $5,159

  • MSBT 0.14% Cheapest

    $2,932

$10,000
30 years

Cost over time

  • BTCW 0.25%
  • MSBT 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530BTCW $5,159MSBT $2,932

Year by year

YearBTCWMSBTOverpaying
10$455$256$199
20$1,769$1,000$769
30$5,159$2,932$2,227

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