**Bitwise 10 Crypto Index ETF Reports Financial Results for Fiscal Year 2025**
Bitwise 10 Crypto Index ETF (BITW), a Delaware Statutory Trust, has released its financial results for the fiscal year ended December 31, 2025. The fund, designed to track the performance of the top 10 crypto assets, reported a net decrease in net assets resulting from operations of $165.86 million, compared to a net increase of $664.63 million in the previous fiscal year. This shift was primarily attributed to a net change in unrealized depreciation from crypto assets of $270.94 million, contrasting with a net change in unrealized appreciation of $680.19 million in 2024. Management fees for the year totaled $33.48 million, up from $25.81 million in 2024, reflecting an increase in the average net assets of the Trust.
The fund's net realized gain from investment in crypto assets amounted to $138.56 million, a significant increase from $10.25 million in the prior year. As of December 31, 2025, the fund's net assets stood at $1.03 billion, with a Principal Market NAV per share of $59.01, compared to $1.37 billion and $67.47 per share at the end of 2024. The fund's investment strategy focuses on passively tracking the Bitwise 10 Large Cap Crypto Index, with the sponsor having discretion to pursue incidental opportunities to generate additional returns through activities such as airdrops, staking, and emissions.
During the fiscal year, the Trust engaged in capital share transactions, redeeming 2,810,000 shares and issuing 20,000 shares, resulting in a net decrease in shares outstanding of 2,790,000. The fund's holdings are concentrated in Bitcoin and Ethereum, representing 75.11% and 15.41% of the portfolio, respectively, as of December 31, 2025. The remaining assets are allocated among XRP, Solana, Cardano, Chainlink, Litecoin, Avalanche, SUI, and Polkadot. The fund's management fee is calculated daily at an annualized rate of 0.75% of the Trust Estate and is paid monthly in cash or crypto assets.
Looking ahead, the fund acknowledges the inherent risks associated with crypto assets, including price volatility, regulatory uncertainty, and cybersecurity threats. The fund's performance is closely tied to the acceptance and adoption of crypto assets and blockchain technology, which face ongoing challenges. The sponsor continues to monitor market conditions and regulatory developments to ensure the fund's operations remain compliant and aligned with its investment objective. The fund's financial statements and related disclosures are available on the SEC's EDGAR database and the sponsor's website.
About Bitwise 10 Crypto Index Fund
Bitwise 10 Crypto Index Fund is a Delaware statutory trust offering shares that represent ownership in a portfolio of the top 10 large-cap crypto assets by market capitalization. The fund passively tracks the Bitwise 10 Large Cap Crypto Index, providing investors with diversified exposure to major cryptocurrencies through a professionally managed, cost-effective vehicle. It serves investors seeking indirect participation in the crypto market without direct asset management or custody.
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