BITW's net assets halve to $533M as crypto rout triggers $431M in unrealized losses
Summary
The Bitwise 10 Crypto Index ETF saw net assets tumble 48% to $532.8 million in the first half of 2026, battered by $430.7 million in unrealized losses and $161.2 million in redemptions as crypto prices plunged.
Key Events · Earnings and Guidance · BITW
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Net Assets Halved
Net assets fell to $532.8 million from $1.03 billion at year-end 2025, a 48% decline, driven by crypto price depreciation and redemptions.
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$430.7M Unrealized Loss
Unrealized depreciation on crypto holdings totaled $430.7 million for H1 2026, reflecting the broad market downturn, with Bitcoin alone accounting for $319.8 million of the decline.
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Heavy Redemptions
Shareholders redeemed $161.2 million worth of shares, reducing shares outstanding by 19% to 14.14 million, as investors exited the fund.
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Fee Cut Softens Blow
The management fee reduction to 0.75% from 2.5% helped narrow the net investment loss to $2.8 million from $16.3 million a year earlier.
Analysis · BITW · Crypto Assets
A punishing first half of 2026 erased 48% of the trust's net assets, fueled by $430.7 million in unrealized depreciation across its crypto holdings. Bitcoin, which represents 78% of the portfolio, suffered a sharp decline, and the trust faced $161.2 million in redemptions. While the management fee cut to 0.75% from 2.5% helped narrow the net investment loss, the overall return remained deeply negative. This marks a material deterioration in the trust's financial position, mirroring the broad crypto market downturn.
At the time of this filing, BITW was trading at $61.85 on OTC in the Crypto Assets sector. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.