Bitwise’s eighth publicly traded crypto fund, ETHW, has a
management fee of 0.20%, is publishing the fund’s public wallet
addresses for transparency, and will donate 10% of annual profits
to Ethereum open-source developers
Crypto specialist Bitwise Asset Management announced today the
launch of the Bitwise Ethereum ETF (ticker: ETHW) on the New York
Stock Exchange. ETHW has a low management fee of 0.20%, with the
fee set to 0% for the first six months on the first $500 million in
assets.1 The fund invests directly in ether (ETH), the world's
second-largest crypto asset2 and the driving force behind the
Ethereum blockchain.
Investors should note that, unlike many other exchange-traded
products, ETHW is not registered under the Investment Company Act
of 1940 and is not subject to its regulations.
“The World’s Most Interesting Crypto Asset”
“We believe Ethereum is the world's most interesting blockchain,
and an exchange-traded product gives investors much-awaited
exposure to its potential,” said Bitwise CIO Matt Hougan.
“Investing in ETH is like making a 'picks and shovels' investment
in the underlying infrastructure behind tokenization, stablecoins,
DeFi, NFTs, decentralized social media, and other killer apps in
the blockchain space. Ethereum is also the platform of choice for
big brands like Nike, JPMorgan, and others as they experiment with
public blockchains.3 And now, thanks to ETHW, investors can gain
exposure to Ethereum's growth potential and diversify their crypto
exposure with the ease and familiarity of buying a stock.”
Ethereum has become the primary platform for stablecoins and
DeFi, whose markets today are around $150 billion each.4 Growing
awareness of Ethereum’s potential has driven ETH, the asset that
powers it, to a market cap of more than $400 billion—second only to
bitcoin among digital assets.5
ETHW: Blockchain-Native Features, Managed by Veteran Crypto
Asset Manager
ETHW features several key characteristics:
- 10% of gross profits to be donated to Ethereum open-source
developers. Bitwise has committed to donating 10% of all ETHW
profits to two organizations: Protocol Guild, a grassroots funding
organization that supports more than 170 core contributors to
Ethereum Layer 1 protocol research and development, and PBS
Foundation, a non-profit that funds open-source Ethereum block
relays and surrounding research. “Ethereum, as an open-source
technology, is maintained by a dedicated community of open-source
developers,” said Hong Kim, Bitwise’s Chief Technology Officer.
“Every investor in ETHW wants Ethereum to continue to advance, and
this donation program contributes to that goal.”
- Builds on the historic success of Bitwise’s spot bitcoin
ETP. ETHW’s debut comes just over six months after the launch
of Bitwise’s first spot bitcoin ETP, BITB, which became one of the
top 25 fastest-growing exchange-traded products of all time.6
Today, BITB has more than $2.7 billion in assets and is one of the
most liquid bitcoin ETPs. BITB is not registered under the
Investment Company Act of 1940 and is not subject to its
regulations.
- Built by a crypto specialist firm. Investors in ETHW
gain access not only to a product built with Bitwise’s specialist
expertise, but high-quality insights, industry-leading research,
and a nationwide distribution team they can call on to understand
what’s happening in the industry.
- Becomes Bitwise’s 20th crypto product. Bitwise’s
comprehensive array of crypto products grows to 20 with the
addition of ETHW. It joins a suite that features seven other
publicly traded funds—including the world’s largest crypto index
fund—along with separately managed accounts, private placement
vehicles, and multi-strategy solutions.
“2024 has been a landmark year for crypto as it moves firmly
into the mainstream,” said Bitwise CEO Hunter Horsley. “The launch
of both spot Bitcoin and spot Ethereum ETPs has opened up crypto’s
groundbreaking potential to millions of people through one of the
most popular investment vehicles in the world.7 The debut of the
Bitwise Ethereum ETF reinforces the core mission that has driven us
since 2017: Day in and day out, we’re here to help people
understand and access the opportunities in crypto.”
Bitwise Offers Wide Range of Crypto Insights
In addition to its expansive product suite, Bitwise offers a
wide range of insights, including the Weekly CIO Memo, topical
white papers, interactive tools, and other key resources—including
an Ethereum library—available in the Bitwise Expert Portal.
ETHW and BITB are not suitable for all investors. An
investment in ETHW or BITB is subject to a high degree of risk, has
the potential for significant volatility, and could result in
significant or complete loss of investment.
To view the Fund's prospectus, click
here.
To learn more about ETHW, visit
ethwetf.com.
Risks and Important Information
This material must be preceded or accompanied by a
prospectus. Please read the prospectus carefully before investing.
To obtain a current prospectus visit
ETHWetf.com/prospectus.
The Bitwise Ethereum ETF (“ETHW” or the “Fund”) is not
suitable for all investors. An investment in ETHW is subject to a
high degree of risk, has the potential for significant volatility,
and could result in significant or complete loss of
investment.
ETHW is not an investment company registered under the
Investment Company Act of 1940 (the “1940 Act”) and is not afforded
its protections.
Shares of ETPs are bought and sold at market price (not NAV) and
are not individually redeemed from the Fund. Brokerage commissions
will reduce returns. The NAV may not always correspond to the
market price of ether and, as a result, Creation Units may be
created or redeemed at a value that is different from the market
price of the Shares. Authorized Participants’ buying and selling
activity associated with the creation and redemption of Creation
Units may adversely affect an investment in the Shares.
ETHW will not participate in the proof-of-stake validation
mechanism to earn additional ether or seek other means of
generating income from its ether holdings.
The amount of ether represented by a Share will continue to be
reduced during the life of the Fund due to the transfer of the
Fund’s ether to pay for the Sponsor’s management fee, and to pay
for litigation expenses or other extraordinary expenses. This
dynamic will occur irrespective of whether the trading price of the
Shares rises or falls in response to changes in the price of
ether.
There is no guarantee or assurance that the Fund’s methodology
will result in the Fund achieving positive investment returns or
outperforming other investment products.
Investors may choose to use the Fund as a means of investing
indirectly in ether. An investment in the Fund is not a direct
investment in ether. Because the value of the Shares is
correlated with the value of the ether held by the Fund, it is
important to understand the investment attributes of, and the
market for, ether.
Ether Risk. There are significant risks and hazards inherent in
the ether market that may cause the price of ether to fluctuate
widely. The Fund’s ether may be subject to loss, damage, theft or
restriction on access. Investors considering a purchase of Shares
should carefully consider how much of their total assets should be
exposed to the ether market, and should fully understand, be
willing to assume, and have the financial resources necessary to
withstand the risks involved in the Fund’s investment strategy.
Liquidity Risk. The market for ether is still developing and may
be subject to periods of illiquidity. During such times it may be
difficult or impossible to buy or sell a position at the desired
price. Possible illiquid markets may exacerbate losses or increase
the variability between the Fund’s NAV and its market price. The
lack of active trading markets for the Shares may result in losses
on investors’ investments at the time of disposition of Shares.
Regulatory Risk. Future and current regulations by a U.S. or
foreign government or quasi-governmental agency could have an
adverse effect on an investment in the Fund.
Blockchain Technology Risk. Certain of the Fund’s investments
may be subject to the risks associated with investing in blockchain
technology. The risks associated with blockchain technology may not
fully emerge until the technology is widely used. Blockchain
systems could be vulnerable to fraud, particularly if a significant
minority of participants colluded to defraud the rest. Because
blockchain technology systems may operate across many national
boundaries and regulatory jurisdictions, it is possible that
blockchain technology may be subject to widespread and inconsistent
regulation.
Nondiversification Risk. The Fund is nondiversified and will
hold a single issue. As a result, a decline in the market value of
a particular issue held by the Fund may affect the Fund’s value
more than if it invested in a larger number of issuers.
Recency Risk. The Fund is recently organized, giving prospective
investors a limited track record on which to base their investment
decision. If the Fund is not profitable, the Fund may terminate and
liquidate at a time that is disadvantageous to Shareholders.
Bitwise Investment Advisers, LLC serves as the sponsor of the
Fund. Foreside Fund Services, LLC serves as the Marketing Agent for
ETHW, and is not affiliated with Bitwise Investment Advisers, LLC,
Bitwise, or any of its affiliates.
BITB Risks and Important Information
This material must be preceded or accompanied by a
prospectus. Please read the prospectus carefully before investing.
To obtain a current prospectus visit
BITBetf.com/prospectus.
The Bitwise Bitcoin ETF (“BITB” or the “Fund”) is not
suitable for all investors. An investment in BITB is subject to a
high degree of risk, has the potential for significant volatility,
and could result in significant or complete loss of
investment.
BITB is not an investment company registered under the
Investment Company Act of 1940 (the “1940 Act”) and is not afforded
its protections.
Shares of ETFs are bought and sold at market price (not NAV) and
are not individually redeemed from the Fund. Brokerage commissions
will reduce returns. The NAV may not always correspond to the
market price of bitcoin and, as a result, Creation Units may be
created or redeemed at a value that is different from the market
price of the Shares. Authorized Participants’ buying and selling
activity associated with the creation and redemption of Creation
Units may adversely affect an investment in the Shares.
The amount of bitcoin represented by a Share will continue to be
reduced during the life of the Fund due to the transfer of the
Fund’s bitcoin to pay for the Sponsor’s management fee, and to pay
for litigation expenses or other extraordinary expenses. This
dynamic will occur irrespective of whether the trading price of the
Shares rises or falls in response to changes in the price of
bitcoin.
There is no guarantee or assurance that the Fund’s methodology
will result in the Fund achieving positive investment returns or
outperforming other investment products.
Investors may choose to use the Fund as a means of investing
indirectly in bitcoin. Because the value of the Shares is
correlated with the value of the bitcoin held by the Fund, it is
important to understand the investment attributes of, and the
market for, bitcoin.
Bitcoin Risk. There are significant risks and hazards inherent
in the bitcoin market that may cause the price of bitcoin to
fluctuate widely. The Fund’s bitcoin may be subject to loss,
damage, theft or restriction on access. Investors considering a
purchase of Shares should carefully consider how much of their
total assets should be exposed to the bitcoin market, and should
fully understand, be willing to assume, and have the financial
resources necessary to withstand the risks involved in the Fund’s
investment strategy.
Liquidity Risk. The market for bitcoin is still developing and
may be subject to periods of illiquidity. During such times it may
be difficult or impossible to buy or sell a position at the desired
price. Possible illiquid markets may exacerbate losses or increase
the variability between the Fund’s NAV and its market price. The
lack of active trading markets for the Shares may result in losses
on investors’ investments at the time of disposition of Shares.
Regulatory Risk. Future and current regulations by a U.S. or
foreign government or quasi-governmental agency could have an
adverse effect on an investment in the Fund.
Blockchain Technology Risk. Certain of the Fund’s investments
may be subject to the risks associated with investing in blockchain
technology. The risks associated with blockchain technology may not
fully emerge until the technology is widely used. Blockchain
systems could be vulnerable to fraud, particularly if a significant
minority of participants colluded to defraud the rest. Because
blockchain technology systems may operate across many national
boundaries and regulatory jurisdictions, it is possible that
blockchain technology may be subject to widespread and inconsistent
regulation.
Nondiversification Risk. The Fund is nondiversified and may hold
a smaller number of portfolio securities than many other products.
To the extent the Fund invests in a relatively small number of
issuers, a decline in the market value of a particular security
held by the Fund may affect its value more than if it invested in a
larger number of issuers.
Recency Risk. The Fund is recently organized, giving prospective
investors a limited track record on which to base their investment
decision. If the Fund is not profitable, the Fund may terminate and
liquidate at a time that is disadvantageous to Shareholders.
Bitwise Investment Advisers, LLC serves as the sponsor of the
Fund. Foreside Fund Services, LLC serves as the Marketing Agent for
BITB, and is not affiliated with Bitwise Investment Advisers, LLC,
Bitwise, or any of its affiliates.
_______________________ 1 Until January 22, 2025, the Sponsor
has waived its fee on the first $500 million in assets. Other fees
such as brokerage and commission expenses may apply. 2 Source:
CoinMarketCap.com as of June 30, 2024. 3 ETHW does not invest in
Nike or JPMorgan. 4 Source: The Block, DeFi Llama, and Coin Metrics
as of June 30, 2024. DeFi market size refers to total value locked
(TVL) on decentralized finance applications. 5 Source:
CoinMarketMap as of June 30, 2024. 6 Source: Bloomberg. 7 Source:
NYSE.
https://www.nyse.com/data-insights/2023-the-year-in-us-etps-part-1
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240723353039/en/
Media Frank Taylor/Stephanie Dressler Dukas Linden Public
Relations Bitwise@DLPR.com
Grafico Azioni Bitwise Ethereum (NYSE:ETHW)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Bitwise Ethereum (NYSE:ETHW)
Storico
Da Gen 2024 a Gen 2025
