- ISIN
- US0917491013
- CUSIP
- 091749101
- Issuer
- Bitwise
- Inception Date
- Dec 9, 2025
- Region
- Global (Global)
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bitwise 10 Large Cap Crypto Index
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Cryptocurrency
- Assets Under Management
- $619M
Share Price Chart
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Performance
BITW Performance Chart
Bitwise 10 Crypto Index ETF (BITW) is down 30.1% since the beginning of the year. At $41 per share, BITW is trading 52.6% below its 52-week high of $87. Investors who bought $1,000 worth of BITW shares 5 years ago would now be looking at an investment worth $1,184.
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Returns By Period
Bitwise 10 Crypto Index ETF (BITW) has returned -30.09% so far this year and -33.61% over the past 12 months.
Bitwise 10 Crypto Index ETF
- 1D
- 1.83%
- 1M
- -15.18%
- YTD
- -30.09%
- 6M
- -31.04%
- 1Y
- -33.61%
- 3Y*
- 53.76%
- 5Y*
- 3.43%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BITW Monthly Returns History
Based on dividend-adjusted daily data since Oct 15, 2020, BITW's average daily return is +0.27%, while the average monthly return is +7.88%. At this rate, an investment would double in approximately 0.8 years.
Historically, 45% of months were positive and 55% were negative. The best month was Dec 2020 with a return of +403.3%, while the worst month was Jun 2022 at -44.7%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 5 months.
On a daily basis, BITW closed higher 47% of trading days. The best single day was Dec 2, 2020 with a return of +154.1%, while the worst single day was Dec 17, 2020 at -33.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -5.28% | -22.67% | 3.64% | 10.77% | -5.02% | -12.47% | -30.09% | ||||||
| 2025 | 11.52% | -27.79% | 2.72% | 9.25% | 10.56% | 9.09% | 12.30% | -1.80% | 8.57% | -4.94% | -19.73% | -2.23% | -2.63% |
| 2024 | -7.13% | 33.91% | 18.20% | -13.96% | 26.55% | -8.59% | 5.68% | -13.09% | -6.59% | 26.46% | 74.83% | -6.07% | 160.69% |
| 2023 | 80.26% | -9.89% | 25.53% | -1.74% | -2.86% | 8.50% | 11.22% | -1.28% | -4.24% | 48.88% | 25.92% | 3.58% | 331.10% |
| 2022 | -17.33% | 0.57% | 1.73% | -18.31% | -39.30% | -44.69% | 41.92% | -8.76% | -9.08% | 5.76% | -34.57% | -25.52% | -85.92% |
| 2021 | -8.93% | 78.36% | -15.04% | -2.82% | -20.37% | -38.53% | 5.07% | 18.82% | -15.17% | 21.46% | -2.16% | -23.55% | -36.83% |
Benchmark Metrics
Bitwise 10 Crypto Index ETF has an annualized alpha of 59.24%, beta of 1.45, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since October 15, 2020.
- This ETF captured 244.81% of S&P 500 Index gains and 171.58% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.05 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 59.24%
- Beta
- 1.45
- R²
- 0.05
- Upside Capture
- 244.81%
- Downside Capture
- 171.58%
Expense Ratio
BITW has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BITW ranks 4 for risk / return — in the bottom 4% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Bitwise 10 Crypto Index ETF (BITW) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BITW | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.71 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.37 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 2.78 | -3.39 |
| Martin ratioReturn relative to average drawdown | -1.04 | 12.44 | -13.48 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Bitwise 10 Crypto Index ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Bitwise 10 Crypto Index ETF was 96.46%, occurring on Dec 28, 2022. The portfolio has not yet recovered.
The current Bitwise 10 Crypto Index ETF drawdown is 70.45%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -96.46%Dec 2022 | 2y 11d | — | 5y 6moDec 2020 - now |
2020 bear market2020 | -29.06%Dec 2020 | 4d | 3d | 7dDec 2020 - Dec 2020 |
Drawdown Indicators
| BITW | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.46% | -56.78% | -39.68% |
Max Drawdown (1Y)Largest decline over 1 year | -55.51% | -9.10% | -46.41% |
Max Drawdown (3Y)Largest decline over 3 years | -55.51% | -18.90% | -36.61% |
Max Drawdown (5Y)Largest decline over 5 years | -91.93% | -25.43% | -66.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -70.45% | -1.80% | -68.65% |
Average DrawdownAverage peak-to-trough decline | -69.56% | -10.71% | -58.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.38% | 2.03% | +30.35% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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