BITB holds approximately $2.58 billion in AUM and 39,157 BTC with a 0.20% management fee.
ETHW launched July 2024 on NYSE Arca with a 0.20% fee and six-month waiver on first $500 million.
BITW completed its conversion to an exchange-traded product on December 9, 2025 with $1.25 billion in AUM.
Bitwise Hyperliquid ETF (BHYP) began trading May 15, 2026 on the NYSE.
Stablecoin & Tokenization ETF filing targets onchain finance infrastructure rather than spot price exposure.
As of mid-July 2026, the Bitwise Bitcoin ETF (BITB) was listed with about $2.58 billion in assets under management and roughly 39,157 BTC in holdings, with a 0.20% expense ratio shown in public fund trackers. The trust began trading on January 11, 2024 on NYSE Arca.
BITB's fee structure has been central to its positioning since launch. Bitwise set a 0.20% management fee and advertised a temporary waiver to 0% for the first six months on the first $1 billion in assets—an early-land-grab tactic that has largely normalized across the post-launch cohort now that introductory waivers have rolled off.
The vehicle remains a mid-pack player by assets under management in the U.S. spot bitcoin market, competing with larger issuers while maintaining a lower fee point than some peers. Flows, fee schedules, and SEC status changes can move liquidity and spreads across the firm's listed vehicles.
On the ether side, the Bitwise Ethereum ETF (ETHW) has been live since July 23, 2024 on NYSE Arca, and it carries a 0.20% management fee. At launch, Bitwise disclosed a 0% fee for the first six months on the first $500 million in assets.
This structure was designed to compete for early creation activity as U.S. spot ether products opened the gate for regulated access without onchain staking rewards. The practical read-through for traders is that cost and creation/redemption mechanics remain recurring watch items.
For broad market beta, Bitwise's flagship index exposure shifted venues in late 2025. The Bitwise 10 Crypto Index ETF (BITW) completed its conversion and began trading on NYSE Arca as an exchange-traded product on December 9, 2025.
Bitwise reported $1.25 billion in AUM as of December 9, 2025. The vehicle tracks a market-cap-weighted basket of large-cap crypto assets and is designed to rebalance periodically as leadership rotates within the index.
As the market matures, the edge often shifts from headline approvals to microstructure—daily liquidity, bid-ask compression, and whether fee drag is meaningfully different once waivers expire and funds settle into steady-state operations.
New product filings target infrastructure plays and niche exposure outside the duopoly
The newest U.S.-listed addition in the Bitwise lineup is outside the BTC/ETH duopoly. Bitwise launched the Bitwise Hyperliquid ETF (BHYP), which the firm said began trading on May 15, 2026 on the NYSE. In the company's launch materials, Bitwise described itself as managing $11 billion in client assets as of April 1, 2026, underscoring a smaller scale than the mega-issuers while still operating with a multi-product footprint. Alongside listed products, Bitwise has also pushed filings that aim to capture the infrastructure trade around onchain finance rather than price exposure alone. A preliminary SEC filing dated September 16, 2025 describes a planned Bitwise Stablecoin & Tokenization ETF, structured as a 1940 Act fund intended to track the Bitwise Stablecoin and Tokenization Index. The filing is explicitly subject to completion, leaving the listing exchange and ticker blank. That proposed fund is framed around the plumbing: payments rails, settlement, and tokenization stacks where stablecoin usage is a key throughput metric. For traders, the practical read-through is that the product would likely behave more like a thematic basket than a spot-asset proxy, with returns tied to adoption cycles and regulatory milestones that influence the addressable market for a stablecoin issuer ecosystem.
Internationally, Bitwise has continued to expand its exchange-traded product suite in Europe. In a May 26, 2026 press release, the firm announced the launch of the Bitwise Canton ETP (ticker BWCC) on Deutsche Börse Xetra, positioning it as exposure to an institutional blockchain network aimed at capital-markets use cases.
Creation mechanics and cost structures remain the recurring variables as products mature
Across Bitwise ETFs, two operational details remain the recurring watch items: creation/redemption mechanics and cost. These elements determine how efficiently the product tracks its underlying asset or index and how much friction exists for market makers and authorized participants.
Daily liquidity is a microstructure factor that can influence bid-ask spreads, especially during periods of market stress or low volume. Funds with smoother creation/redemption processes tend to see tighter spreads and better price discovery.
Bid-ask compression is a signal of maturing market infrastructure. As more participants engage with a product and operational friction declines, the gap between buy and sell prices narrows, reducing trading costs for end investors.
Fee drag becomes more visible once introductory waivers expire and funds settle into steady-state operations. The 0.20% management fee on BITB and ETHW is competitive but not the lowest in the cohort; long-term holders will feel the cumulative impact.
One recurring point of confusion among newer allocators is whether there is a bitwise stock to trade. Bitwise Asset Management is a privately held manager; in practice, market access to the firm's strategies comes through its listed products.
Examples of listed access include BITB, ETHW, and BITW, along with ongoing SEC filings that can expand the investable menu as approvals, effectiveness dates, and exchange listings finalize. The firm does not have publicly traded equity.
The stablecoin and tokenization filing represents a different kind of bet: not on asset prices but on the adoption of blockchain infrastructure. Returns would likely correlate with regulatory clarity, issuer volume, and transaction throughput rather than BTC or ETH spot moves.
For investors evaluating Bitwise products, the key variables are fee competitiveness after waivers roll off, liquidity in secondary markets, and whether the fund's structure aligns with the intended exposure—spot price, index basket, or infrastructure theme.
Marcus Chen is a financial journalist specializing in cryptocurrency markets and blockchain regulation with over eight years of experience covering digital assets. He leads CryptoWire's editorial team, ensuring accurate, data-driven reporting for professional traders and institutional investors.
