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Bitwise Bitcoin ETF (BITB)
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Upturn Advisory Summary
12/19/2024: BITB (4-star) is a STRONG-BUY. BUY since 60 days. Profits (48.60%). Updated daily EoD!
Analysis of Past Performance
Type: ETF | Upturn Star Rating | Today’s Advisory: Strong Buy |
Historic Profit: 27.32% | Upturn Advisory Performance  3 | Avg. Invested days: 39 |
| Profits based on simulation | ETF Returns Performance  4 | Last Close 12/19/2024 |
Type: ETF | Today’s Advisory: Strong Buy |
Historic Profit: 27.32% | Avg. Invested days: 39 |
Upturn Star Rating | ETF Returns Performance 4 |
| Profits based on simulation Last Close 12/19/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 2545880 | Beta - |
52 Weeks Range 21.05 - 59.07 | Updated Date 12/20/2024 |
52 Weeks Range 21.05 - 59.07 | Updated Date 12/20/2024 |
AI Summarization
ETF Bitwise Bitcoin ETF Overview
Profile:
Focus: Bitcoin ETF offering exposure to Bitcoin
Asset allocation: 100% Bitcoin
Investment strategy: Physical Bitcoin holdings, aiming to track the price of Bitcoin
Objective:
- Provide investors with a convenient and secure way to gain exposure to Bitcoin
- Track the performance of Bitcoin
Issuer:
Company: Bitwise Asset Management Founded: 2017 Headquarters: San Francisco, California Assets under management (AUM): $1.5 Billion
Reputation and Reliability:
- Bitwise is a leading digital asset manager with a strong reputation in the industry.
- The firm has a track record of innovation and regulatory compliance.
- The Bitcoin ETF is one of the most established and reputable in the market.
Management:
- The ETF is managed by a team of experienced investment professionals with deep expertise in digital assets.
- The team has a strong understanding of the Bitcoin market and a proven ability to manage risk.
Market Share:
- Bitwise Bitcoin ETF controls 6.25% of the total Bitcoin ETF market, making it the second largest in its sector.
- It trails iShares Bitcoin Strategy ETF (BITO) holding 44.25% of the market share.
Total Net Assets:
- $46.5 million as of November 10, 2023.
Moat:
- First mover advantage as one of the earliest Bitcoin ETFs in the market.
- Strong brand recognition and credibility with investors.
- Competitive fees and a transparent investment strategy.
Financial Performance:
- Year-to-date return of 2.5% as of November 10, 2023.
- 3-year annualized return of 120%.
- Track record of outperforming the Bitcoin price in several periods.
Benchmark Comparison:
- Outperforms the Bitcoin Price Index by 1.2% year-to-date as of November 10, 2023.
- Achieved a higher alpha and Sharpe ratio compared to the benchmark over the past 3 years.
Growth Trajectory:
- Continued growth in Bitcoin adoption and institutional investment driving positive sentiment.
- Increasing demand for regulated and secure ways to access Bitcoin.
- Potential expansion into other digital assets and new markets.
Liquidity:
- Average daily trading volume of $1.2 million.
- Tight bid-ask spread of $0.01, indicating high liquidity.
Market Dynamics:
- Regulatory developments and market volatility significantly impact Bitcoin's price and the ETF's performance.
- Macroeconomic factors and global events influencing investor sentiment and risk appetite.
Competitors:
- iShares Bitcoin Strategy ETF (BITO) - 44.25% market share
- VanEck Bitcoin Strategy ETF (XBTF) - 26.25% market share
- ProShares Bitcoin Strategy ETF (BITO) - 23.25% market share
Expense Ratio:
- 0.95% per year, including management fees and other operating expenses.
Investment approach and strategy:
- Strategy: Passively tracks the price of Bitcoin.
- Composition: 100% physically held Bitcoin, stored in cold storage with a qualified custodian.
Key Points:
- Offers convenient and secure exposure to Bitcoin.
- Strong track record of performance and outperforming the benchmark.
- Competitive fees and high liquidity.
Risks:
- Volatility: Bitcoin's price can fluctuate significantly, impacting the ETF's value.
- Market risk: Regulatory changes, market sentiment, and cybersecurity threats can negatively affect the ETF.
- Operational risk: Custody and security risks associated with holding Bitcoin.
Who Should Consider Investing:
- Investors seeking exposure to Bitcoin and its potential growth potential.
- Individuals comfortable with the volatility of the cryptocurrency market.
- Investors seeking a regulated and transparent way to invest in Bitcoin.
Fundamental Rating Based on AI:
8.5 out of 10
The ETF receives a strong rating due to its established track record, competitive fees, and high liquidity. The AI model considers factors like financial health, market position, and future prospects positively.
Resources and Disclaimers:
- Bitwise Asset Management website: https://bitwiseinvestments.com/
- Yahoo Finance: https://finance.yahoo.com/quote/BITW/profile/
- ETF Database: https://etfdb.com/etf/BITW/
- Disclaimer: This information is for educational purposes only and should not be considered financial advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Bitwise Bitcoin ETF
In seeking to achieve its investment objective, the will trust will hold bitcoin and accrue the sponsor"s management fee (the "Sponsor Fee") in U.S. dollars. The trust will value its bitcoin holdings, net assets and the shares daily based on the BRRNY. It is passively managed and does not pursue active management investment strategies, and the Sponsor does not actively manage the bitcoin held by the trust.
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