Key stats
About Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF
Home page
Inception date
Oct 2, 2023
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
No distributions
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Bitwise Investment Manager LLC
Distributor
Foreside Fund Services LLC
BTOP provides exposure to bitcoin, ether, and US Treasurys. It uses a long-flat trend-following investing strategy where the funds exposure is rotated between 100% bitcoin and ether futures contracts and 100% US Treasurys. This is based on a proprietary signal dependent on bitcoins 10-day and 20-day exponential moving average price. During upward trends, the fund will equally invest in cash-settled CME bitcoin and ether futures contracts. The contracts are rolled monthly as they near expiration which may also lead to a higher-than-normal portfolio turnover. This is exclusively through a wholly owned subsidiary organized under the laws of the Cayman Islands and is capped at 25% at each quarter end. During downward trends, it will move 100% of its position to US Treasurys. To provide liquidity and collateral, up to 75% of its remaining assets will be invested in money market instruments. Prior to December 3, 2024, the fund was named Bitwise Bitcoin and Ether Equal Weight Strategy ETF.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Mutual fund
Government
Bonds, Cash & Other100.00%
Mutual fund56.63%
Government43.37%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
BTOP last dividends amounted to 20.82 USD. The year before, the issuer paid 1.99 USD in dividends, which shows a 90.45% increase.
BTOP assets under management is 4.79 M USD. It's risen 14.45% over the last month.
BTOP fund flows account for −3.21 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, BTOP pays dividends to its holders with the dividend yield of 67.90%. The last dividend (Dec 30, 2024) amounted to 20.82 USD. The dividends are paid annually.
BTOP shares are issued by Bitwise Asset Management, Inc. under the brand Bitwise. The ETF was launched on Oct 2, 2023, and its management style is Active.
BTOP expense ratio is 0.89% meaning you'd have to pay 0.89% of your investment to help manage the fund.
BTOP follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
BTOP invests in funds.
BTOP price has fallen by −9.16% over the last month, and its yearly performance shows a −35.35% decrease. See more dynamics on BTOP price chart.
NAV returns, another gauge of an ETF dynamics, have fallen by −4.79% over the last month, showed a 7.74% increase in three-month performance and has decreased by −39.15% in a year.
NAV returns, another gauge of an ETF dynamics, have fallen by −4.79% over the last month, showed a 7.74% increase in three-month performance and has decreased by −39.15% in a year.
BTOP trades at a premium (0.01%) meaning the ETF is trading at a higher price than the calculated NAV.