- Issuer
- Bitwise
- Inception Date
- Sep 29, 2023
- Region
- Global (Broad)
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $6M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
BTOP Performance Chart
Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) is down 0.2% since the beginning of the year. BTOP is currently trading at $29 per share.
Loading charts...
Returns By Period
Bitwise Bitcoin And Ether Equal Weight Strategy ETF (BTOP) has returned -0.19% so far this year and -10.61% over the past 12 months.
Bitwise Bitcoin And Ether Equal Weight Strategy ETF
- 1D
- 0.00%
- 1M
- -7.75%
- YTD
- -0.19%
- 6M
- -3.62%
- 1Y
- -10.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTOP Monthly Returns History
Based on dividend-adjusted daily data since Oct 2, 2023, BTOP's average daily return is +0.14%, while the average monthly return is +3.09%. At this rate, an investment would double in approximately 1.9 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% | 4.40% | -2.92% | -0.19% | |||||||
| 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 -26.26%, beta of 0.98, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since October 03, 2023.
- This ETF participated in 91.02% of S&P 500 Index downside but only -15.23% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.13 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
- -26.26%
- Beta
- 0.98
- R²
- 0.13
- Upside Capture
- -15.23%
- Downside Capture
- 91.02%
Expense Ratio
BTOP has an expense ratio of 0.90%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BTOP ranks 6 for risk / return — in the bottom 6% 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 Bitcoin And Ether Equal Weight Strategy ETF (BTOP) and compare them to S&P 500 Index.
| BTOP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.94 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | — | — |
| Martin ratioReturn relative to average drawdown | -0.63 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Bitwise Bitcoin And Ether Equal Weight Strategy ETF provided a 2.39% 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 | 2.39% | 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 | $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.
Loading charts...
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 29.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -43.37%Apr 2025 | 4mo 1d | — | 1y 5moDec 2024 - now |
2024 bear market2024 | -38.51%Sep 2024 | 5mo 26d | 2mo 16d | 8mo 12dMar 2024 - Nov 2024 |
2024 correction2024 | -15.62%Jan 2024 | 11d | 20d | 1mo 1dJan 2024 - Feb 2024 |
2023 pullback2023 | -8.10%Dec 2023 | 0s | 28d | 28dDec 2023 - Jan 2024 |
2024 pullback2024 | -7.85%Dec 2024 | 1d | 6d | 7dDec 2024 - Dec 2024 |
Drawdown Indicators
| BTOP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.37% | -9.10% | -34.27% |
Max Drawdown (1Y)Largest decline over 1 year | -31.35% | — | — |
Current DrawdownCurrent decline from peak | -29.59% | -2.97% | -26.62% |
Average DrawdownAverage peak-to-trough decline | -19.28% | -1.13% | -18.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.91% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with BTOP
Add Bitwise Bitcoin And Ether Equal Weight Strategy ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with BTOP