Bitwise Bitcoin ETF holdings and fund management
Bitwise Bitcoin ETF (BITB) holds 36,698.09 BTC valued at approximately $2.42 billion as of November 2026. Specialized vehicles like the Bitcoin Standard Corporations ETF (OWNB) track companies with large Bitcoin treasuries, including Strategy.
Bitwise Bitcoin ETF (BITB) Holdings
I find the Bitwise Bitcoin ETF (BITB) a reliable way to capture Bitcoin price movements through a regulated exchange. As of 13 November 2026, Bitwise holds 36,698.09 BTC in the fund, which equals about $2.42 billion. BITB manages $1.18 billion in assets. Bitwise charges 0.20% in fees. While heavy redemptions hit other funds on 14 October, BITB drew $2.2 million in inflows. On that same day, Fidelity’s FBTC and BlackRock’s IBIT lost $152.7 million and $110.9 million respectively, which accounted for more than the total net outflows of $261.4 million observed across the entire group of funds. BITB’s year-to-date return reaches -21.21%. I noticed that BITB listed on the NYSE Arca on 11 January 2024 following its inception on 10 January 2024. The fund’s 5-day volatility reached 112.24% and its 200-day volatility sits at 24.71%.
Specialized Bitwise Vehicles
Bitwise manages specialized products for those seeking more than simple Bitcoin exposure. The Bitcoin Standard Corporations ETF (OWNB) tracks over 70 companies that hold 1,000 or more BTC in their treasuries. This includes Strategy, which maintains 499,096 BTC, as well as Marathon Digital, CleanSpark, Riot Platforms, and Galaxy Digital. OWNB limits its largest holdings to 20% and gives a 1.5% weighting to companies with Bitcoin holdings between 1,000 BTC and one-third of their balance sheet. This fund shows a year-to-date return of -25.79%.
The Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC) uses a different approach. It follows a Long BTC and Short USD strategy with a single asset weighting scheme. This derivative fund holds 91.23% in United States Treasury Bills maturing 21 January 2027 and 8.67% in DWS Government Money Market Series. BITC also holds 0.09% in Bitwise Bitcoin Cayman and reports a 3.31% return this year alongside a 3-month return of 5.98%.
| Fund Name | Ticker | Expense Ratio | YTD Return |
|---|---|---|---|
| Bitwise Bitcoin ETF | BITB | 0.20% | -21.21% |
| Bitwise Trendwise | BITC | 0.88% | 3.31% |
| Bitcoin Standard Corp | OWNB | 0.85% | -25.79% |
| Bitwise Ethereum ETF | ETHW | 0.00% | -34.38% |
Institutional Liquidity and Management
Large institutions control much of the liquidity in these Bitcoin products. Millennium Management holds $1.9 billion in Bitcoin ETFs. This position includes $844.2 million in BlackRock’s IBIT, $806.7 million in Fidelity’s FBTC, $202 million in Grayscale’s GBTC, $45.0 million in Ark’s ARKB, and $44.7 million in Bitwise’s BITB. Schonfeld Strategic Advisors also holds $479 million in spot Bitcoin ETFs, with $248 million in IBIT and $231.8 million in FBTC. Boothbay Fund Management holds $377 million in exposure, and Pine Ridge Advisers holds $205.8 million. You should observe these large moves because when investors buy shares, the fund must buy Bitcoin to back them, whereas redemptions force the fund to sell holdings.
Professional firms drive the market; for instance, Bitwise’s chief investment officer predicted that close to 700 professional firms would invest $5 billion in the spot Bitcoin ETF by the 15 May deadline. As of 9 May, 563 professional investment firms held $3.5 billion worth of Bitcoin ETFs. These products gathered cumulative net inflows of more than $54 billion since January 2024. Morgan Stanley and JPMorgan also maintain positions in the space. I see that total Bitcoin ETF assets under management have passed $40 billion, with the total market cap exceeding $45 billion. How will these massive institutional positions affect price volatility during the next market cycle?
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