Bitwise Asset Management is a specialized cryptocurrency asset management firm that offers investment products, including index funds and exchange-traded funds (ETFs), to financial advisors, institutions, and individual investors. The company focuses exclusively on the crypto asset class, offering a range of vehicles designed to provide exposure to various digital assets and industry themes. ^[1]

Overview

Bitwise Asset Management was established in 2017 with the stated goal of making the cryptocurrency market accessible through familiar and professionally managed investment structures. The firm positions itself as a specialist in the digital asset space, dedicating its resources to research, analysis, and product development within this sector. Headquartered in San Francisco, California, the company has grown to employ over 100 individuals with backgrounds in asset management, technology, and law. ^[1]

The firm's approach centers on creating regulated and transparent products that simplify the process of investing in a complex and rapidly evolving asset class. Since its inception, Bitwise has developed a suite of investment solutions that includes private funds, publicly traded trusts, separately managed accounts (SMAs), and a variety of ETFs. These products offer exposure to over 20 different crypto assets, as well as related equities and thematic strategies. The company also produces research and educational content, including market reviews and analysis on the role of digital assets in traditional investment portfolios, aimed at professional investors. ^[1]

History

Bitwise was founded in 2017, launching its first product, a crypto index fund, in the same year. This launch marked the beginning of the firm's focus on creating diversified, rules-based investment vehicles for the crypto market. This early entry allowed the company to establish a track record focused solely on digital assets.

Over the years, Bitwise has expanded its product lineup significantly, moving from private funds to publicly traded products to meet growing investor demand and adapt to the evolving regulatory landscape. The company is backed by a number of venture capital firms and institutional investors, including Highland Capital Partners, Khosla Ventures, General Catalyst, Blockchain Capital, and Coinbase. ^[1]

Products and Services

Bitwise offers a broad range of investment products designed to cater to different investor types and risk appetites. The offerings are structured in various formats, including publicly traded funds, private placements, and managed accounts. ^[1]

Publicly Traded Funds

The firm manages several publicly traded products, providing liquidity and accessibility for investors through traditional brokerage accounts.

Bitwise 10 Crypto Index Fund (BITW)

The Bitwise 10 Crypto Index Fund, which trades under the ticker BITW, was the first publicly traded crypto index fund. Launched in 2017, the fund is designed to track the performance of the 10 largest crypto assets, weighted by market capitalization.

The index is screened and rebalanced on a monthly basis to adapt to market changes. Assets within the fund are held with a qualified third-party custodian, providing a layer of security for investors. BITW offers diversified exposure to the crypto market without requiring investors to select individual assets. ^[1]

Exchange-Traded Funds (ETFs)

Bitwise has become a prominent issuer of crypto-focused ETFs, offering products that track single assets, industry equities, and specific themes within the digital asset ecosystem. Some of the firm's key ETF offerings include:

• Bitwise Bitcoin ETF (BITB): A spot Bitcoin ETF that directly holds bitcoin.
• Bitwise Ethereum ETF (ETHW): A spot Ethereum ETF that directly holds ether.
• Bitwise Crypto Industry Innovators ETF (BITQ): This fund invests in the stocks of public companies that are part of the growing crypto economy, such as crypto mining firms, exchanges, and other service providers, rather than directly in crypto assets.
• Bitwise Web3 ETF (BWEB): This ETF focuses on companies positioned to benefit from the growth of Web3 and the decentralized internet.
• Option Income Strategy ETFs: The firm offers several ETFs, such as the Bitwise COIN Option Income Strategy ETF (ICOI), that use options strategies on crypto-related stocks to generate income.
• Trend-Following Strategy ETFs: Products like the Bitwise Trendwise Bitcoin and Treasuries Rotation Strategy ETF (BITC) employ quantitative strategies that rotate between crypto assets and U.S. Treasuries based on market trends.

These ETFs provide investors with various ways to gain exposure to the crypto market, from direct asset holding to equity-based and strategy-driven approaches. ^[1]

Private Funds and SMAs

For accredited investors and institutions, Bitwise provides private funds that offer exposure to specific crypto assets or strategies not available in its public ETFs. The firm also offers Separately Managed Accounts (SMAs), which allow for more customized portfolio management tailored to the specific needs of high-net-worth individuals and institutions. ^[1]

Regulatory Filings and Developments

Bitwise is actively engaged with regulators in its efforts to launch new and innovative crypto investment products in the United States. The firm has filed numerous applications with the U.S. Securities and Exchange Commission (SEC) for various crypto-related ETFs.

S-1 Form Filing

On August 26, 2025, Bitwise filed a preliminary prospectus (S-1 form) with the SEC to launch the Bitwise Chainlink ETF. If approved, this would be one of the first spot ETFs in the U.S. to provide direct, regulated exposure to Chainlink's native token, LINK.

The proposed fund intends to hold LINK tokens directly, with Coinbase Custody Trust Company serving as the custodian. The ETF's performance would be benchmarked against the CME CF Chainlink-Dollar Reference Rate. This filing follows the SEC's earlier approvals of spot Bitcoin and Ethereum ETFs and signals growing interest in expanding ETF products to other major digital assets. ^[2]

In addition to the Chainlink ETF application, Bitwise has several other pending filings for single-token ETFs. These include proposed funds for other prominent crypto assets such as XRP, Solana, Dogecoin, and Aptos. These filings underscore the firm's strategy of broadening its suite of single-asset crypto ETFs to provide investors with a wider selection of regulated investment choices. ^[2]