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Launched · SEC filings

CoinShares Bitcoin and Ether ETF

BTFNasdaqCoinSharesDThis fund gets its cryptocurrency exposure through futures contracts rather than holding coins directly. Futures-based returns can differ from the spot price of the coin.

$21.97+0.35 (+1.62%) past 5 days

At close: Oct 21, 2026, 4:00 PM ET

D36/ 100

Rank 9 of 11 in Crypto Derivatives

D36/100Rank 9 of 11inCrypto Derivatives
5D price: up, 5 points from 21.62 to 21.97. Range 21.59 to 22.08. Use the arrow keys to read each point.21.6021.7021.8021.9022.10
Market opens at 9:30 AM ET.
Expense ratio
1.27%
Fund size
$16M
1Y total return
−34.6%
Yield · Last 12 months
170.76%
Holdings
5
Avg volume · 30D
5.06K sh
52W range
low $15.00high $87.65
Launched
Filings
SEC EDGAR

The ETF.net BTF Grade

As of · Based on 4 of 6 pillars

D

Score 36 out of 100

Category
Crypto Derivatives⁠
Rank
9 of 11
Six-pillar profile for BTF. Scores out of 100: Cost 30, Risk 43, Mission not scored, Tradability 36, Holdings not scored, Durability 61. Strongest: Durability (61). Weakest: Cost (30). Based on 4 of 6 pillars.

Score 36 of 100 falls in the D 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.
    D30 out of 100
    Rank 8 of 11

  • 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.
    C43 out of 100
    Rank 6 of 11

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 7 of 11

  • 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.
    B61 out of 100
    Rank 7 of 11

Our read on BTF

ETF.net Research

In short

DBitcoin and ether in one ticker, the futures way: BTF takes its exposure through futures held in a subsidiary rather than owning the coins. Trading since 2021, and it charges a premium for the convenience.

Stated mandate

The Fund seeks exposure to bitcoin and ether futures markets through an investment in a subsidiary rather than by directly investing in bitcoin or ether.

Why people hold it

  • Two majors, one line item: the fund seeks bitcoin and ether futures exposure, so you skip wallets, keys and crypto exchange accounts.
  • Gets there through an investment in a subsidiary instead of buying coins directly, a structure spelled out in the fund's own registration filings.
  • Launched in October 2021, so it carries a multi-year operating record in a cohort where many products are far newer.
  • Distributions run on a quarterly cadence, and the fund comes from a crypto-native issuer rather than a generalist shop.

Worth knowing

  • Fee is 1.27% a year, above the median for futures-based crypto funds. ProShares' bitcoin and ether futures products (BETE, BETH, EETH) sit at the cheaper end of the same cohort.
  • Futures, not spot: pricing follows the futures market, which can sit above or below the coin price, so results can diverge from bitcoin and ether themselves.
  • A small fund that trades lightly, so spreads can be wider than at the bigger names in the category. Limit orders matter more here.

BTF Holdings

As of
Asset class
Other
Holdings
5
Top-10 weight
100%
Largest holding
First American Treasury Obligations Fund 01/01/204053.1%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataFirst American Treasury Obligations Fund 01/01/204053.12%8,478,052$8.48MNo data
2No dataUnited States Treasury Bill 10/29/202646.95%7,500,000$7.49MNo data

Showing 1–2 of 2 holdings

BTF Performance

Launched Oct 21, 2021

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.
BTF$6,543
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,641
Oct 21, 2025 to Oct 21, 2026. BTF $6,543. SPY $11,641. Use the arrow keys to read each point.$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 21, 2025 – Oct 21, 2026

Returns run to the Oct 21, 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.

As of
Trailing total return for BTF. Periods over one year show the average yearly return.
PeriodBTF
Year to date−15.0%
1 month−9.0%
3 months+22.8%
1 year−34.6%
3 yearsper year+15.0%
5 yearsHistory unavailableper 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 BTF
YearReturn barBTF
2026 YTD−15.0%
2025−10.8%

BTF in the news

BTF 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 21, 2026.
170.76%Last 12 months
Payout per share
$37.52Last 12 months
Last payment
$0.03 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

Through Oct 21, 2026

One bar per payment. 10 payments from 2024 to 2026 YTD. Sep 19, 2024 $0.60; Dec 24, 2024 $37.15; Mar 19, 2025 $0.25; Jun 17, 2025 $0.25; Sep 18, 2025 $0.30; Dec 17, 2025 $37.32; Mar 19, 2026 $0.06; Jun 17, 2026 $0.06; Sep 17, 2026 $0.05; Oct 20, 2026 $0.03. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Oct 20, 2026Oct 21, 2026$0.03
Sep 17, 2026Sep 18, 2026$0.05
Jun 17, 2026Jun 18, 2026$0.06
Mar 19, 2026Mar 20, 2026$0.06
Dec 17, 2025Dec 18, 2025$37.32
Sep 18, 2025Sep 19, 2025$0.30
Jun 17, 2025Jun 18, 2025$0.25
Mar 19, 2025Mar 20, 2025$0.25
Dec 24, 2024Dec 31, 2024$37.15
Sep 19, 2024Sep 26, 2024$0.60
Jun 20, 2024Jun 27, 2024No data
Mar 20, 2024Mar 27, 2024No data

See all 15 payments⁠

BTF Risk

Risk pillarC43 out of 100Rank 6 of 11 in Crypto Derivatives
How much the fund’s monthly returns vary, scaled to a year.
60.4%
Annualised · 36 months to Sep 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.
0.52
vs 3-month T-bills · to Sep 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.
−77.5%
59 months · trough Nov 2022
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.
2.02
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.

BTF Cost

BTF cost

$22,918

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

  • BTF 1.27%

    $22,918

$10,000
30 years

Cost over time

  • BTF 1.27%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530BTF $22,918

Year by year

YearBTF
10$2,214
20$8,220
30$22,918