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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.
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Returns By Period
Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) has returned -1.53% so far this year and 12.77% over the past 12 months.
Bitwise Bitcoin And Ether Equal Weight Strategy ETF
- 1D
- -0.02%
- 1M
- 1.80%
- YTD
- -1.53%
- 6M
- -18.59%
- 1Y
- 12.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Oct 2, 2023, BTOP's average daily return is +0.15%, while the average monthly return is +3.25%. At this rate, your investment would double in approximately 1.8 years.
Historically, 53% of months were positive and 47% were negative. The best month was Feb 2024 with a return of +45.7%, while the worst month was Apr 2024 at -18.6%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BTOP closed higher 51% of trading days. The best single day was Nov 11, 2024 with a return of +13.7%, while the worst single day was Aug 5, 2024 at -17.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.32% | 0.05% | 1.80% | -1.53% | |||||||||
| 2025 | -10.78% | -9.04% | -9.47% | 2.51% | 26.09% | -8.90% | 27.35% | -0.93% | -6.76% | -11.13% | 0.14% | -7.11% | -15.87% |
| 2024 | -0.97% | 45.65% | 7.44% | -18.64% | 21.90% | -11.68% | 2.07% | -16.64% | 5.52% | 3.14% | 39.93% | -7.74% | 62.27% |
| 2023 | 16.06% | 9.75% | 11.26% | 41.71% |
Benchmark Metrics
Bitwise Bitcoin And Ether Equal Weight Strategy ETF has an annualized alpha of 22.81%, beta of 0.91, and R² of 0.09 versus S&P 500 Index. Calculated based on daily prices since October 03, 2023.
- This ETF captured 163.01% of S&P 500 Index gains and 129.96% of its losses — amplifying both gains and losses, but participating more in upside than downside.
- R² of 0.09 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
- 22.81%
- Beta
- 0.91
- R²
- 0.09
- Upside Capture
- 163.01%
- Downside Capture
- 129.96%
Expense Ratio
BTOP has an expense ratio of 0.90%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BTOP ranks 22 for risk / return — below 22% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and compare them to a chosen benchmark (S&P 500 Index).
| BTOP | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.35 | 0.90 | -0.54 |
Sortino ratioReturn per unit of downside risk | 0.80 | 1.39 | -0.59 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.21 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 0.34 | 1.40 | -1.06 |
Martin ratioReturn relative to average drawdown | 0.56 | 6.61 | -6.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore BTOP risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Bitwise Bitcoin And Ether Equal Weight Strategy ETF provided a 2.42% dividend yield over the last twelve months, with an annual payout of $0.69 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.69 | $0.69 | $20.82 | $1.99 |
Dividend yield | 2.42% | 2.38% | 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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.69 | $0.69 |
| 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.
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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 43.37%, occurring on Apr 17, 2025. The portfolio has not yet recovered.
The current Bitwise Bitcoin And Ether Equal Weight Strategy ETF drawdown is 30.53%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -43.37% | Dec 17, 2024 | 83 | Apr 17, 2025 | — | — | — |
| -38.51% | Mar 14, 2024 | 122 | Sep 6, 2024 | 54 | Nov 21, 2024 | 176 |
| -15.62% | Jan 12, 2024 | 7 | Jan 23, 2024 | 14 | Feb 12, 2024 | 21 |
| -8.1% | Dec 11, 2023 | 1 | Dec 11, 2023 | 18 | Jan 8, 2024 | 19 |
| -7.85% | Dec 9, 2024 | 2 | Dec 10, 2024 | 4 | Dec 16, 2024 | 6 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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