Overview
- TickerBTCW on CBOE2
- IndustryCommodity Contracts Brokers & Dealers2
- HeadquartersWilmington, United States2
- Business address250 West 34Th Street, 3Rd Floor, New York, Ny 101193
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
- Legal formFUND2
- Kind of organizationFund2
- LEI254900NN3LI24CJWGU482
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O DELAWARE TRUST COMPANY, 19808 Wilmington, United States2
- Registered withSecurities and Exchange Commission, 00018503912
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Bitcoin Gold (October 24, 2017) and Bitcoin SegWit2X (December 28, 2017), among others.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Sponsor Fee (Note 3) | $515.4K | $366.4K |
| Total expenses | $515.4K | $366.4K |
| Expense waiver (Note 3) | -$75.7K | |
| Net expenses | $515.4K | $290.6K |
| Net investment loss | -$515.4K | -$290.6K |
| Net realized gain from investment in bitcoin sold to pay Sponsor Fee | $203.7K | $35.0K |
| Net realized gain from investment in bitcoin sold for redemption of Shares | $58.1M | $1.2M |
| Net increase (decrease) in unrealized appreciation (depreciation) on investment in bitcoin | -$94.4M | $127.6M |
| Net realized and unrealized gain (loss) on investment in bitcoin | -$36.2M | $128.8M |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | -$36.7M | $128.5M |
| Period ending | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 |
|---|---|---|---|---|
| Sponsor Fee (Note 3) | $101.7K | $113.4K | $95.9K | $204.4K |
| Total expenses | $101.7K | $113.4K | $95.9K | $204.4K |
| Net investment loss | -$101.7K | -$113.4K | -$95.9K | -$204.4K |
| Net realized gain from investment in bitcoin sold to pay Sponsor Fee | -$39.3K | -$47.0K | -$35.3K | -$82.2K |
| Net realized gain from investment in bitcoin sold for redemption of Shares | $1.8M | $5.5M | $50.8M | |
| Net increase (decrease) in unrealized appreciation (depreciation) on investment in bitcoin | -$46.0M | $10.8M | $31.7M | -$91.0M |
| Net realized and unrealized gain (loss) on investment in bitcoin | -$44.1M | $10.8M | $37.3M | -$40.1M |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | -$44.2M | $10.7M | $37.2M | -$40.3M |
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Investment in bitcoin, at fair value (Note 2) | $139.7M | $360.6M | |
| Total Assets | $139.7M | $360.6M | |
| Sponsor Fee payable (Note 3) | $30.0K | $79.2K | |
| Total Liabilities | $30.0K | $79.2K | |
| NET ASSETS | $139.7M | $360.5M | $50.0K |
| Capital Stock | $47.9M | $232.0M | |
| Total earnings (loss) | $91.8M | $128.5M | |
| NET ASSETS | $139.7M | $360.5M | |
| Outstanding beneficial interest shares of $0.0001 par value (unlimited number of shares authorized) | 1.5M shares | 3.6M shares | 1.0K shares |
| Net Asset Value Per Share | $92.51 | $99.04 | $50.00 |
| Investment in Bitcoin, at cost | $106.6M | $233.0M | |
| Common stock, par value | $0.00 |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Investment in bitcoin, at fair value (Note 2) | $139.7M | $360.6M | |
| Total Assets | $139.7M | $360.6M | |
| Sponsor Fee payable (Note 3) | $30.0K | $79.2K | |
| Total Liabilities | $30.0K | $79.2K | |
| NET ASSETS | $139.7M | $360.5M | $50.0K |
| Capital Stock | $47.9M | $232.0M | |
| Total earnings (loss) | $91.8M | $128.5M | |
| NET ASSETS | $139.7M | $360.5M | |
| Outstanding beneficial interest shares of $0.0001 par value (unlimited number of shares authorized) | 1.5M shares | 3.6M shares | 1.0K shares |
| Net Asset Value Per Share | $92.51 | $99.04 | $50.00 |
| Investment in Bitcoin, at cost | $106.6M | $233.0M | |
| Common stock, par value | $0.00 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net increase (decrease) in net assets resulting from operations | -$36.7M | $128.5M |
| Purchases of bitcoin | -$42.3M | -$241.8M |
| Proceeds from sales of bitcoin sold for net redemption of Shares | $226.4M | $9.7M |
| Proceeds from sales of bitcoin sold to pay Sponsor Fee | $564.6K | $211.4K |
| Net realized gain on investment in bitcoin | -$58.3M | -$1.2M |
| Net change in unrealized appreciation from investment in bitcoin | $94.4M | -$127.6M |
| Increase (decrease) in Sponsor Fee payable, net | -$49.2K | $79.2K |
| Net cash provided by (used for) operating activities | $184.2M | -$232.0M |
| Net proceeds from the sale of Shares | $42.3M | $245.6M |
| Cost of Shares redeemed | -$226.4M | -$13.6M |
| Net cash provided by (used for) financing activities | -$184.2M | $232.0M |
| Net increase (decrease) in cash | -$50.0K |
No quarter-by-quarter statement was filed.
Corporate structure
WisdomTree Bitcoin Fund sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of WisdomTree Bitcoin Fund
- The Bank of New York Mellon Filed SCHEDULE 13G/A on WisdomTree Bitcoin Fund, latest Jul 29, 2026 (9 filings since May 10, 2024)
- WisdomTree Bitcoin Fund Wilmington, Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
Former names
- WisdomTree Bitcoin TrustMar 11, 2021 to Nov 16, 20233
Timeline
Filings
84 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 1 major events, 9 large holders, 63 other. The latest 20:
- Aug 12, 202610-Q EDGAR
- Jul 29, 2026SCHEDULE 13G/A EDGAR
- May 13, 202610-Q EDGAR
- May 5, 2026SCHEDULE 13G/A EDGAR
- Apr 28, 2026SCHEDULE 13G/A EDGAR
- Mar 27, 2026424I EDGAR
- Mar 27, 202610-K EDGAR
- Mar 6, 2026SCHEDULE 13G/A EDGAR
- Jan 29, 2026SCHEDULE 13G/A EDGAR
- Nov 12, 202510-Q EDGAR
- Oct 28, 2025SCHEDULE 13G/A EDGAR
- Aug 13, 202510-Q EDGAR
- Jul 18, 2025SCHEDULE 13G EDGAR
- May 16, 2025FWP EDGAR
- May 15, 2025FWP EDGAR
- May 15, 202510-Q EDGAR
- Apr 2, 2025424B3 EDGAR
- Apr 1, 2025EFFECT EDGAR
- Mar 31, 2025POS AM AMENDMENT NO. 1 EDGAR
- Mar 28, 2025424I EDGAR
The 84 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- The Bank of New York MellonSCHEDULE 13G/A, 9 filings May 10, 2024 to Jul 29, 202611
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 26. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How WisdomTree Bitcoin Fund is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWisdomTree Bitcoin Fund1
- CIK0001850391
- Employer ID (EIN)99-61197264
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address250 West 34Th Street, 3Rd Floor, New York, NY 101191
- Phone1-866-909-94731
- Shares outstanding2,185,000 as of Jun 30, 20268
- Public float$153.0M as of Jun 30, 20254
- AuditorErnst & Young LLP, New York, New York PCAOB ID 42; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceMar 11, 20211
- Filings85 in all: FWP (29), 10-Q (8), 424B3 (7), S-1/A (7), CORRESP (6), SCHEDULE 13G/A (6), UPLOAD (5), 10-K (3)1
All 18 form types
CERT (3), 424I (2), EFFECT (2), 8-A12B (1), 8-K (1), POS AM (1), S-1 (1), SC 13G (1), SC 13G/A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Mar 27, 2026
Quarterly report (10-Q) Aug 12, 2026
Latest 8-K (8-K) Nov 26, 2024
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Shares of Beneficial Interest of WisdomTree Bitcoin Fund | BTCW | Cboe BZX Exchange, Inc. |
From the cover page of the 10-K filed Mar 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks WisdomTree Bitcoin Fund names in Item 1A of its 10-K filed Mar 27, 2026: 80 risks under these headings, as written.4
- Digital assets such as bitcoin are relatively new, and the value of the Shares is subject to a number of factors relating to the capabilities and development of blockchain technologies and to the fundamental investment characteristics of digital assets that are uncertain and difficult to evaluate.
- The value of the Shares relates directly to the value of bitcoin, the value of which may be highly volatile and subject to fluctuations due to a number of factors.
- Due to the nature of private keys, bitcoin transactions are irrevocable and stolen or incorrectly transferred bitcoin may be irretrievable. As a result, any incorrectly executed bitcoin transactions could adversely affect an investment in the Trust.
- Security threats to the Trust’s account with the Bitcoin Custodian or Prime Execution Agent could result in the halting of Trust operations and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the price of the Shares.
- The value of the Shares depends on the development and acceptance of the Bitcoin network. The slowing or stopping of the development or acceptance of the Bitcoin network may adversely affect an investment in the Trust.
- A disruption of the Internet may affect the operation of the Bitcoin network, which may adversely affect the bitcoin industry and an investment in the Trust.
- Potential amendments to the Bitcoin network’s protocols and software could, if accepted and authorized by the Bitcoin network community, adversely affect an investment in the Trust.
- The open-source structure of the Bitcoin network protocol means that the core developers and other contributors are generally not directly compensated for their contributions in maintaining and developing the Bitcoin network protocol. A failure to properly monitor and upgrade the Bitcoin network protocol could damage the Bitcoin network and an investment in the Trust.
- A temporary or permanent “fork” of the Bitcoin Blockchain could adversely affect an investment in the Trust.
- In the event of a hard fork of the Bitcoin network, the Sponsor will use its discretion to determine which network should be considered the appropriate network for the Trust’s purposes, and in doing so may adversely affect the value of the Shares.
- The Bitcoin Blockchain could be vulnerable to a “51% attack,” which could adversely affect an investment in the Trust or the ability of the Trust to operate.
- Transacting in bitcoin is subject to illicit financing risk.
The other 68 risks
- If miners expend less processing power on the Bitcoin network, it could increase the likelihood of a malicious actor obtaining control.
- Blockchain technologies are based on the theoretical conjectures as to the impossibility of solving certain cryptographical puzzles quickly. These premises may be incorrect or may become incorrect due to technological advances.
- The price of bitcoin on the bitcoin market has exhibited periods of extreme volatility, which could have a negative impact on the performance of the Trust.
- The price of bitcoin may become closely correlated with other asset classes
- Prices of bitcoin may be affected due to stablecoins, the activities of stablecoin issuers and their regulatory treatment
- Currently, there is relatively small use of bitcoin in the retail and commercial marketplace in comparison to relatively large use by speculators and those perceiving bitcoin as a store of value, thus contributing to price volatility that could adversely affect an investment in the Trust.
- Bitcoin platforms on which bitcoin trades are relatively new and, in some cases, unregulated, and, therefore, may be more exposed to fraud, manipulation and security breaches than established, regulated platforms for other financial assets or instruments, which could have a negative impact on the performance of the Trust.
- Risk of Fraud and Market Manipulation.
- Spot markets may be exposed to wash trading.
- Price Volatility.
- Sales of new bitcoin may cause the price of bitcoin to decline, which could negatively affect an investment in the Trust.
- Digital asset networks face significant scaling challenges and efforts to increase the volume of transactions may not be successful.
- The Bitcoin network’s decentralized governance structure may negatively affect its ability to grow and respond to challenges.
- New competing digital assets may pose a challenge to bitcoin’s current market position, resulting in a reduction in demand for bitcoin, which could have a negative impact on the price of bitcoin and may have a negative impact on the performance of the Trust.
- The Trust and the Sponsor face competition from competing products.
- Competition from central bank digital currencies (“CBDCs”) and other initiatives could adversely affect the value of bitcoin and other digital assets.
- The scheduled mining of additional bitcoin and their subsequent sale may cause the price of bitcoin to decline, which could negatively affect an investment in the Trust.
- Miners could act in collusion to raise transaction fees, which may adversely affect the usage of the Bitcoin network.
- As technology advances, miners may be unable to acquire the digital asset mining hardware necessary to develop and launch their operations. A decline in the bitcoin mining population could adversely affect the Bitcoin network and an investment in the Trust.
- If profit margins of bitcoin mining operations are not high, miners may elect to immediately sell bitcoin earned by mining, resulting in a reduction in the price of bitcoin that could adversely affect an investment in the Trust.
- Congestion or delay in the Bitcoin network may delay purchases or sales of bitcoin by the Trust.
- Bitcoin mining is energy intensive and concerns about climate change may raise the economic and societal costs of bitcoin mining.
- The value of the Shares relates directly to the value of the bitcoin held by the Trust and fluctuations in the price of bitcoin could materially and adversely affect an investment in the Shares.
- Due to the unregulated nature and lack of transparency surrounding the operations of bitcoin platforms, the marketplace may lose confidence in bitcoin platforms, upon which the Trust is dependent.
- Since there is no limit on the number of bitcoin that the Trust may acquire, the Trust itself, as it grows, may have an impact on the supply and demand of bitcoin that ultimately may affect the price of the Shares in a manner unrelated to other factors affecting the global market for bitcoin.
- The Shares may trade at a discount or premium in the trading price relative to the Trust’s bitcoin holdings per Share as a result of non-concurrent trading hours between the Exchange and the bitcoin platform market.
- Investors in Shares in the secondary market may be subject to brokerage commissions, over which the Trust has no control.
- If bitcoin prices on the bitcoin platform market move negatively during hours when the Exchange is closed, trading prices on the Exchange may “gap” down at market open.
- A possible “short squeeze” due to a sudden increase in demand for the Shares that largely exceeds supply may lead to price volatility in the Shares.
- Purchasing activity in the bitcoin platform market associated with Basket creations or selling activity following Basket redemptions may affect the Reference Rate and Share trading prices, adversely affecting an investment in the Shares.
- The Reference Rate may be affected by the sale of other digital currency financial vehicles that invest in and track the price of bitcoin.
- The impact of geopolitical or economic events on the supply and demand for bitcoin is uncertain, but could motivate large-scale sales of bitcoin, which could result in a reduction in the Reference Rate and adversely affect an investment in the Shares.
- Demand for bitcoin is driven, in part, by its perceived status as a prominent and secure digital asset. It is possible that a digital asset other than bitcoin could have features that make it more desirable to a material portion of the digital asset user base, resulting in a reduction in demand for bitcoin, which could have a negative impact on the price of bitcoin and adversely affect an investment in the Shares.
- The Reference Rate has a limited history and there are limitations with the price of bitcoin reflected there.
- The value of bitcoin as reflected by the Reference Rate may be subject to momentum pricing due to speculation regarding future appreciation in value, leading to greater volatility which could adversely affect an investment in the Shares.
- The Benchmark Administrator could experience system failures or errors.
- The Reference Rate could fail to track the global bitcoin price
- The Sponsor can discontinue using the Reference Rate and use a different pricing or valuation methodology instead.
- As the Sponsor and its management have no meaningful history of operating an investment vehicle like the Trust within the United States, their experience may be inadequate or unsuitable to manage the Trust.
- The Trust is a passive investment vehicle that does not seek to generate returns beyond tracking the price of bitcoin. The Trust is not actively managed and will be affected by a general decline in the price of bitcoin.
- The value of the Shares may be influenced by a variety of factors unrelated to the value of bitcoin.
- The Shares are a relatively new securities product.
- The Trust is subject to market risk.
- Investors should not rely on past performance in deciding whether to buy Shares.
- The NAV may not always correspond to the market price of bitcoin and, as a result, Baskets 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 Baskets may adversely affect an investment in the Shares of the Trust.
- The inability of Authorized Participants and market makers to hedge their bitcoin exposure may adversely affect the liquidity of Shares and the value of an investment in the Shares.
- Arbitrage transactions intended to keep the price of Shares closely linked to the price of bitcoin may be problematic if the process for the creation and redemption of Baskets becomes more difficult, or if Authorized Participants or market makers encounter difficulties, which may adversely affect an investment in the Shares.
- The use of cash creations and redemptions, as opposed to in-kind creations and redemptions, may adversely affect the arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of bitcoin and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
- The Trust is subject to risks due to its concentration of investments in a single asset class.
- The lack of full insurance and Shareholders’ limited rights of legal recourse against the Trust, Trustee, Sponsor, Trust Administrator, Cash Custodian, Bitcoin Custodian and Prime Execution Agent expose the Trust and its Shareholders to the risk of loss of the Trust’s bitcoins for which no person or entity is liable.
- If the Trade Credits are not available or become exhausted, the Trust may face delays in buying or selling bitcoin that may adversely impact Shareholders; if the Trust does not repay the Trade Credits on time, its assets may be liquidated by the Trade Credit Lender and its affiliates.
- Loss of a critical banking relationship for, or the failure of a bank used by, the Trust could adversely impact the Trust’s ability to create or redeem Creation Baskets, or could cause losses to the Trust.
- The Prime Execution Agent routes orders through Connected Trading Venues in connection with trading services under the Prime Execution Agent Agreement. The loss or failure of any such Connected Trading Venues may adversely affect the Prime Execution Agent’s business and cause losses for the Trust.
- The lack of active trading markets for the Shares of the Trust may result in losses on Shareholders’ investments at the time of disposition of Shares.
- Possible illiquid markets may exacerbate losses or increase the variability between the Trust’s NAV and its market price.
- Several factors may affect the Trust’s ability to achieve its investment objective on a consistent basis.
- The amount of bitcoin represented by the Shares will decline over time.
- The development and commercialization of the Trust is subject to competitive pressures.
- The Trust is an emerging growth company, and the Trust cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make the Shares less attractive to investors.
- If the Trust issues all Shares registered or such registration expires, it could have to cease creating new Baskets until additional shares are registered for sale.
- Future and current regulations by a United States or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Trust.
- The Trust is not an investment company registered under the 1940 Act or the Commodity Exchange Act.
- Future regulations may require the Trust or the Sponsor to become registered, which may cause the Trust to liquidate.
- Regulatory changes or interpretations of an Authorized Participant’s, the Trust’s or the Sponsor’s activities could result in extraordinary, recurring and/or nonrecurring expenses to the Authorized Participant, Trust or Sponsor or increased commissions for the Authorized Participant’s clients, thereby reducing the liquidity of the Shares.
- Trading on bitcoin platforms outside the United States is not subject to U.S. regulation, and may be less reliable than U.S. exchanges, and regulatory changes or actions in foreign jurisdictions may impact the value of Shares.
- The Sponsor may need to find and appoint a replacement custodian or execution agent quickly, which could pose a challenge to the safekeeping of the Trust’s bitcoin and the Trust’s ability to continue to operate may be adversely affected.
- The Trust Administrator calculates the NAV using the value of the bitcoin holdings and bitcoin holdings per Share, and any errors, discontinuance or changes in such valuation calculations may have an adverse effect on the value of the Shares.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 10SEC EDGAREntered a material agreement
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