$BITB

Bitwise Bitcoin ETF

CIK:0001763415|SEC Filings

Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Statements of Operations - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Investment income
Investment income	$ 0	$ 0	$ 1	$ 0
Expenses
Sponsor Fee	1,339	1,888	2,806	3,748
Total expenses	1,339	1,888	2,806	3,748
Less: waivers and reimbursements	0	0	0	0
Net expenses	1,339	1,888	2,806	3,748
Net investment loss	(1,339)	(1,888)	(2,805)	(3,748)
Net realized and change in unrealized gain (loss) on investments
Net realized gain (loss) from investment in bitcoin transferred to pay Sponsor Fee	643	1,032	1,455	2,183
Net realized gain (loss) from In-Kind Redemptions of bitcoin	36,526	0	45,336	0
Net realized gain (loss) from investment in bitcoin sold for redemptions	(3,801)	21,271	(35,191)	45,121
Net change in unrealized appreciation (depreciation) from investment in bitcoin	(360,422)	940,462	(1,105,844)	464,101
Net realized and unrealized gain (loss)	(327,054)	962,765	(1,094,244)	511,405
Net increase (decrease) in net assets resulting from operations	$ (328,393)	$ 960,877	$ (1,097,049)	$ 507,657

Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities
Net increase (decrease) in net assets resulting from operations			$ (1,097,049)	$ 507,657
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of bitcoin			(613,156)	(1,203,179)
Proceeds from bitcoin sold			796,129	1,215,220
Transfer of bitcoin to pay for Sponsor Fee			3,025	3,764
Net realized (gain) loss from investment in bitcoin transferred to pay Sponsor Fee	$ (643)	$ (1,032)	(1,455)	(2,183)	$ (5,019)
Net realized (gain) loss from In-Kind Redemptions of bitcoin	(36,526)	0	(45,336)	0
Net realized (gain) loss from investment in bitcoin sold for redemptions	3,801	(21,271)	35,191	(45,121)	42,062
Net change in unrealized (appreciation) depreciation from investment in bitcoin	360,422	(940,462)	1,105,844	(464,101)	299,207
Changes in operating assets and liabilities:
Increase (decrease) in Sponsor Fee payable			(219)	(15)
Net cash provided by (used in) operating activities			182,974	12,042
Cash flows from financing activities
Creations for Shares issued			627,916	1,299,155
Redemptions for Shares redeemed			(810,890)	(1,311,197)
Net cash provided by (used in) financing activities			(182,974)	(12,042)
Net increase (decrease) in cash			0	0
Cash, beginning of period			0	0	0
Cash, end of period	$ 0	$ 0	0	0	$ 0
Supplemental disclosure of noncash financing activities
In-Kind Creations of bitcoin			127,362	0
In-Kind Redemptions of bitcoin			$ (102,536)	$ 0