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About Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF
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Inception date
Mar 21, 2023
Structure
Open-Ended Fund
Replication method
Synthetic
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
No distributions
Primary advisor
Bitwise Investment Advisers LLC
Distributor
Foreside Fund Services LLC
BITC provides an actively managed exposure to standardized bitcoin futures contracts and US Treasurys. It uses a long-flat trend-following investment strategy where the funds exposure is rotated between 100% bitcoin futures contracts and 100% US Treasurys. This is based on a proprietary signal dependent on bitcoin's 10-day and 20-day exponential moving average price. During upward trends, the fund will invest 100% in cash-settled CME bitcoin futures contracts. The contracts are rolled monthly as they near expiration which may also lead to a higher-than-normal portfolio turnover. This is through a wholly owned subsidiary organized under the laws of the Cayman Islands and is capped at 25% at each quarter end. During downward trends, it will move 100% of its position to US Treasurys. The remaining assets (up to 75%) are invested in short-term debt securities to provide liquidity and serve as collateral. Prior to December 3, 2024, the fund was named Bitwise Bitcoin Strategy Optimum Roll ETF.
Classification
What's in the fund
Exposure type
Mutual fund
Government
Bonds, Cash & Other100.00%
Mutual fund49.51%
Government47.20%
Miscellaneous3.28%
Cash0.01%
Displays a symbol's price movements over previous years to identify recurring trends.