Bitwise 10 Crypto Index Fund (BITW) Quarterly 10-Q Report

The report was filed on November 8, 2024

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Bitwise 10 Crypto Index Fund (BITW+6.58%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.

The filing includes financial statements for the quarter, showing an increase in net assets to $934,032,471 from $701,106,140 at the end of 2023. This increase is attributed to the appreciation in the value of the Portfolio Crypto Assets.

Management fees for the quarter were $5,869,017, up from $2,927,022 in the same quarter the previous year, due to the rise in the Trust’s net asset value.

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The Trust reported a net decrease in net assets resulting from operations of $14,880,653 for the quarter, compared to a decrease of $70,236,718 in the previous year, primarily due to fluctuations in the value of the Portfolio Crypto Assets.

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Net realized gains from Crypto Assets for the quarter were $2,628,714, compared to a net realized loss of $4,074,541 in the previous year, reflecting changes in the market value of the assets.

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The Trust's investments in Crypto Assets were valued at $936,381,809 as of September 30, 2024, with Bitcoin and Ethereum being the largest components.

Cash held by the Trust was minimal, with a balance of $766 as of September 30, 2024, reflecting the Trust's strategy of being fully invested in Crypto Assets.

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The Trust continues to face risks associated with the volatility and regulation of Crypto Assets, which could impact the value of its investments.

The filing also notes that the Trust is classified as a partnership for U.S. federal income tax purposes, and no provision for income taxes is recorded.

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The Trust did not engage in any subscriptions or redemptions of shares during the quarter, maintaining 20,241,947 shares outstanding as of September 30, 2024.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bitwise 10 Crypto Index Fund Units - Units Beneficial Interest quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.