{"id":11720,"date":"2026-08-10T16:27:08","date_gmt":"2026-08-10T16:27:08","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=11720"},"modified":"2026-08-10T16:27:08","modified_gmt":"2026-08-10T16:27:08","slug":"bitwise-pitched-a-diversified-10-crypto-fund-then-lost-500-million-as-bitcoin-swallowed-78-of-the-portfolio","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=11720","title":{"rendered":"Bitwise pitched a diversified 10-crypto fund, then lost $500 million as Bitcoin swallowed 78% of the portfolio"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Bitwise\u2019s 10 Crypto Index ETF ended the first half of 2026 with nearly half the net assets it started with, while its 10-asset basket became more concentrated in Bitcoin.<\/p>\n<p>Net assets at BITW fell 48.27%, from $1.03 billion on Dec. 31 to $532.8 million on June 30, according to the fund\u2019s quarterly filing. That contraction was not the return experienced by an investor: the fund reported a negative 36.16% Principal Market NAV total return per share for the six months, while its outstanding share count declined 18.97%.<\/p>\n<p>The net-asset change combined two forces. Market performance reduced the value of each share, while net redemptions reduced the number of shares outstanding.<\/p>\n<p><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-553494\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-b42068e6-32d8-4d41-b77e-8c295df0c8c3.png\" alt=\"Infographic showing BITW net assets falling from $1.03 billion to $532.8 million, split between a $339.4 million operational decrease and a $157.7 million capital-share transaction decrease, while Bitcoin weight rose and Ethereum weight fell.\" width=\"720\" height=\"900\"\/><\/p>\n<h2>Losses, redemptions and a heavier Bitcoin tilt<\/h2>\n<p>Operations reduced BITW\u2019s net assets by $339.4 million during the six-month period. The fund recorded $430.7 million of unrealized depreciation and a $2.8 million net investment loss, partly offset by $94.1 million of realized gains.<\/p>\n<p>Capital-share transactions accounted for another $157.7 million reduction. BITW recorded $161.2 million of redemptions against $3.5 million of creations, while shares outstanding fell from 17,451,947 to 14,141,947.<\/p>\n<p>Those redemptions occurred through authorized participants, the financial firms permitted to transact directly with the trust in 10,000-share blocks. The filing does not identify the ultimate investors behind those transactions, so the figures do not establish retail flight.<\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"538\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/03\/bitcoin-rain-puddle-1024x538.jpg\" alt=\"$19B could \u201cvanish\u201d from Bitcoin ETFs without a single Bitcoin being sold\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"538\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/03\/bitcoin-rain-puddle-1024x538.jpg\" alt=\"$19B could \u201cvanish\u201d from Bitcoin ETFs without a single Bitcoin being sold\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">$19B could \u201cvanish\u201d from Bitcoin ETFs without a single Bitcoin being sold<\/h3>\n<p>Bitcoin ETF outflows might look scary in dollars, but the story changes fast when you measure them in BTC.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Mar 7, 2026<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Andjela Radmilac<\/span><\/p>\n<\/div><\/div>\n<p>A separate cash-flow line shows $178.3 million paid for redemptions. The difference reflects timing: the cash figure includes the $161.2 million current-period redemptions plus settlement of a $17.1 million redemption payable outstanding at the end of 2025.<\/p>\n<div id=\"cs-inline-newsletter-6a79f9beb56ea\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\">CryptoSlate Daily Brief<\/span><\/p>\n<h3 class=\"cs-inline-newsletter__title\">Daily signals, zero noise.<\/h3>\n<p class=\"cs-inline-newsletter__copy\">Market-moving headlines and context delivered every morning in one tight read.<\/p>\n<p> <span><i class=\"fa-regular fa-bolt\" aria-hidden=\"true\"\/> 5-minute digest<\/span> <span><i class=\"fa-regular fa-star\" aria-hidden=\"true\"\/> 100k+ readers<\/span><\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__privacy\">Free. No spam. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span>You\u2019re subscribed. Welcome aboard.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>BITW\u2019s investment schedules show Bitcoin rising from 75.11% of shareholders\u2019 equity in December to 77.81% in June. Ethereum moved in the opposite direction, falling from 15.41% to 12.59%.<\/p>\n<p>The constituents changed as well. Hyperliquid and Stellar appeared in the June schedule, while Avalanche and Polkadot, which were present in December, were absent.<\/p>\n<div class=\"cs-article-embed\">\n<div class=\"cs-article-embed__media\"> <img loading=\"lazy\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/tknz-crypto-basket-t-rowe-price-distribution-1024x576.jpg\" alt=\"Investors rejected crypto basket ETFs and now this $1.9 trillion manager is putting the reason to the test\" loading=\"lazy\" decoding=\"async\"\/><img loading=\"lazy\" class=\"lazyload\" width=\"1024\" height=\"576\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/07\/tknz-crypto-basket-t-rowe-price-distribution-1024x576.jpg\" alt=\"Investors rejected crypto basket ETFs and now this $1.9 trillion manager is putting the reason to the test\" loading=\"lazy\" decoding=\"async\"\/><\/div>\n<div class=\"cs-article-embed__body\"> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Investors rejected crypto basket ETFs and now this $1.9 trillion manager is putting the reason to the test<\/h3>\n<p>T. Rowe Price\u2019s crypto debut tests if active management can revive demand for multi-asset funds after single-token ETFs drew $13.6 billion.<\/p>\n<p> <span class=\"cs-article-embed__meta-item\">Jul 17, 2026<\/span> <span class=\"cs-article-embed__meta-divider\">\u00b7<\/span> <span class=\"cs-article-embed__meta-item\">Gino Matos<\/span><\/p>\n<\/div><\/div>\n<p>The disclosures do not attribute those shifts to one cause. BITW says it rebalances monthly in line with an index governed by rules-based reconstitution and weighting. Relative asset prices, redemption-related sales and scheduled rebalancing are possible mechanisms, but the filing does not quantify their contributions.<\/p>\n<p>The filing also does not establish whether the basket cushioned losses relative to Bitcoin or another benchmark. It does show that BITW suffered a steep first-half drawdown and that the June portfolio ended with a larger share tied to Bitcoin.<\/p>\n<\/div>\n<p>Analysis,ETF,Featured,Investments,Market,Bitcoin,BTC,ETH,ethereum,HYPE,Hyperliquid,stellar,xlmBitcoin,BTC,ETH,ethereum,HYPE,Hyperliquid,stellar,xlm#Bitwise #pitched #diversified #10crypto #fund #lost #million #Bitcoin #swallowed #portfolio1786379228<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitwise\u2019s 10 Crypto Index ETF ended the first half of 2026 with nearly half the net assets it started with, while its 10-asset basket became more concentrated in Bitcoin. Net assets at BITW fell 48.27%, from $1.03 billion on Dec. 31 to $532.8 million on June 30, according to the fund\u2019s quarterly filing. That contraction<\/p>\n","protected":false},"author":1,"featured_media":11721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[6161,91,188,285,6160,601,31,489,1907,281,455,406,6159,1247,1371,6162,6158],"class_list":["post-11720","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-10crypto","tag-bitcoin","tag-bitwise","tag-btc","tag-diversified","tag-eth","tag-ethereum","tag-fund","tag-hype","tag-hyperliquid","tag-lost","tag-million","tag-pitched","tag-portfolio","tag-stellar","tag-swallowed","tag-xlm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitwise pitched a diversified 10-crypto fund, then lost $500 million as Bitcoin swallowed 78% of the portfolio - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Market losses and net redemptions cut the fund to $532.8 million while Bitcoin\u2019s portfolio share rose to 77.81%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=11720\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitwise pitched a diversified 10-crypto fund, then lost $500 million as Bitcoin swallowed 78% of the portfolio\" \/>\n<meta property=\"og:description\" content=\"Market losses and net redemptions cut the fund to $532.8 million while Bitcoin\u2019s portfolio share rose to 77.81%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=11720\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-10T16:27:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitcoin-piggy-bank-collapse.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11720\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=11720\",\"name\":\"Bitwise pitched a diversified 10-crypto fund, then lost $500 million as Bitcoin swallowed 78% of the portfolio - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11720#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11720#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitcoin-piggy-bank-collapse.jpg\",\"datePublished\":\"2026-08-10T16:27:08+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Market losses and net redemptions cut the fund to $532.8 million while Bitcoin\u2019s portfolio share rose to 77.81%.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11720#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=11720\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11720#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitcoin-piggy-bank-collapse.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/08\/bitcoin-piggy-bank-collapse.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=11720#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitwise pitched a diversified 10-crypto fund, then lost $500 million as Bitcoin swallowed 78% of the portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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