PortfoliosLab logo
Bitwise Bitcoin And Ether Equal Weight Strategy ET...
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

Issuer

Bitwise

Inception Date

Sep 29, 2023

Region

Global (Broad)

Category

Blockchain

Leveraged

1x

Index Tracked

No Index (Active)

Asset Class

Cryptocurrency

Expense Ratio

BTOP has an expense ratio of 0.90%, placing it in the medium range.


Share Price Chart


Loading data...

Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Bitwise Bitcoin And Ether Equal Weight Strategy ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


0.00%50.00%100.00%150.00%December2025FebruaryMarchAprilMay
23.36%
32.08%
BTOP (Bitwise Bitcoin And Ether Equal Weight Strategy ETF)
Benchmark (^GSPC)

Returns By Period

Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) returned -15.13% year-to-date (YTD) and -33.66% over the past 12 months.


BTOP

YTD

-15.13%

1M

23.54%

6M

-38.18%

1Y

-33.66%

5Y*

N/A

10Y*

N/A

^GSPC (Benchmark)

YTD

-3.70%

1M

13.67%

6M

-5.18%

1Y

9.18%

5Y*

14.14%

10Y*

10.43%

*Annualized

Monthly Returns

The table below presents the monthly returns of BTOP, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025-10.78%-9.04%-9.47%2.51%12.71%-15.13%
2024-0.97%45.65%7.44%-18.64%21.90%-11.68%2.07%-16.64%5.52%3.14%39.93%-41.69%2.56%
202316.06%9.75%11.26%41.71%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of BTOP is 5, meaning it’s performing worse than 95% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of BTOP is 55
Overall Rank
The Sharpe Ratio Rank of BTOP is 55
Sharpe Ratio Rank
The Sortino Ratio Rank of BTOP is 77
Sortino Ratio Rank
The Omega Ratio Rank of BTOP is 55
Omega Ratio Rank
The Calmar Ratio Rank of BTOP is 22
Calmar Ratio Rank
The Martin Ratio Rank of BTOP is 77
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Bitwise Bitcoin And Ether Equal Weight Strategy ETF Sharpe ratios as of May 9, 2025 (values are recalculated daily):

  • 1-Year: -0.52
  • All Time: 0.23

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Bitwise Bitcoin And Ether Equal Weight Strategy ETF compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00December2025FebruaryMarchAprilMay
-0.52
0.48
BTOP (Bitwise Bitcoin And Ether Equal Weight Strategy ETF)
Benchmark (^GSPC)

Dividends

Dividend History

Bitwise Bitcoin And Ether Equal Weight Strategy ETF provided a 70.03% dividend yield over the last twelve months, with an annual payout of $20.82 per share.


10.00%20.00%30.00%40.00%50.00%60.00%$0.00$5.00$10.00$15.00$20.0020232024
Dividends
Dividend Yield
PeriodTTM20242023
Dividend$20.82$20.82$1.99

Dividend yield

70.03%59.44%5.82%

Monthly Dividends

The table displays the monthly dividend distributions for Bitwise Bitcoin And Ether Equal Weight Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.00$0.00$0.00$0.00
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$20.82$20.82
2023$1.99$1.99

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.


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%December2025FebruaryMarchAprilMay
-55.01%
-7.82%
BTOP (Bitwise Bitcoin And Ether Equal Weight Strategy ETF)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the Bitwise Bitcoin And Ether Equal Weight Strategy 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 Bitcoin And Ether Equal Weight Strategy ETF was 64.20%, occurring on Apr 17, 2025. The portfolio has not yet recovered.

The current Bitwise Bitcoin And Ether Equal Weight Strategy ETF drawdown is 55.01%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-64.2%Dec 17, 202483Apr 17, 2025
-38.51%Mar 14, 2024122Sep 6, 202454Nov 21, 2024176
-15.62%Jan 12, 20247Jan 23, 202414Feb 12, 202421
-8.1%Dec 11, 20231Dec 11, 202318Jan 8, 202419
-7.85%Dec 9, 20242Dec 10, 20244Dec 16, 20246

Volatility

Volatility Chart

The current Bitwise Bitcoin And Ether Equal Weight Strategy ETF volatility is 13.38%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%10.00%20.00%30.00%40.00%50.00%December2025FebruaryMarchAprilMay
13.38%
11.21%
BTOP (Bitwise Bitcoin And Ether Equal Weight Strategy ETF)
Benchmark (^GSPC)