Key stats
About Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF
Expense ratio
0.90%
Home page
Inception date
Oct 2, 2023
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
Government
Cash
Mutual fund
Bonds, Cash & Other100.00%
Government58.53%
Cash25.49%
Mutual fund15.98%
Top 10 holdings
Dividends
Dividend payout history