Bitwise Bitcoin ETF (BITB) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BITB SEC filings page.
This page shows Bitwise Bitcoin ETF (BITB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The reported business is dominated by asset and financing movements, while operating revenue and margins remain unreported.
FY2024 combined a42.2% return on assets with operating cash flow of-$2.17B , an unusually wide disconnect between accounting returns and cash generation. FY2025 paired a-10.2% return on assets with operating cash flow of$39.1M , showing that reported earnings do not provide a stable proxy for cash economics.
Assets declined
Reported financing cash flow exactly offset operating cash flow in both reported years, making financing activity central to the cash pattern rather than a secondary funding source. Reported share buybacks increased from
Financial Health Signals
Bitwise Bitcoin ETF does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Bitwise Bitcoin ETF passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Bitwise Bitcoin ETF reported a net loss of $344.4M while generating $39.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Bitwise Bitcoin ETF reported -$328.4M in net income in Q2 2026. This represents a decrease of 134.2% from the same quarter a year earlier. Against the prior quarter it is up 57.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Bitwise Bitcoin ETF's ROE was -15.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 38.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 14.7 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Bitwise Bitcoin ETF spent $195.4M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 57.9% from the same quarter a year earlier. Against the prior quarter it is down 68.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
BITB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BITB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.1B-50.1% | $2.6B-19.1% | $3.4B-10.3% | $4.8B+89.9% | $4.3B+89.3% | $3.2B+36.4% | $3.8B | $2.5B |
| Cash & Equivalents | N/A | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $0 |
| Short-Term Investments | N/A | N/A | N/A | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | N/A | N/A | N/A | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $378K-43.5% | $2.3M-88.7% | $14.4M+53.4% | $70.9M+605.5% | $669K+177.6% | $20.4M-69.7% | $9.4M | $10.0M |
| Total Equity | $2.1B-50.1% | $2.5B-18.6% | $3.4B-10.5% | $4.7B+87.8% | $4.3B+89.3% | $3.1B+39.6% | $3.8B | $2.5B |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
BITB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $70.0M+148.5% | $113.0M-27.7% | $151.7M+727.7% | -$124.7M-5.1% | -$144.2M+64.3% | $156.3M+109.7% | -$24.2M | -$118.6M |
| Financing Cash Flow | -$70.0M-148.5% | -$113.0M+27.7% | -$151.7M-727.7% | $124.7M+5.1% | $144.2M-64.3% | -$156.3M-109.7% | $24.2M+12081400.0% | $118.6M |
| Share Buybacks | $195.4M-57.9% | $615.4M-27.3% | $577.3M-43.7% | $568.2M+15.8% | $464.3M+122.7% | $846.9M+37825.5% | $1.0B | $490.5M |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid.
BITB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -15.4%-38.0pp | -30.1%-15.7pp | N/A | 5.4%+0.1pp | 22.6%+40.3pp | -14.5%-42.3pp | N/A | 5.4% |
| Return on Assets | -15.4%-38.0pp | -30.1%-15.8pp | N/A | 5.3%0.0pp | 22.6%+40.3pp | -14.4%-41.4pp | N/A | 5.3% |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.020.0x | 0.000.0x | 0.010.0x | 0.00 | 0.00 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Where Bitwise Bitcoin ETF Ranks
Frequently Asked Questions
Is Bitwise Bitcoin ETF profitable?
No, Bitwise Bitcoin ETF (BITB) reported a net income of -$344.4M in fiscal year 2025.
What is Bitwise Bitcoin ETF's return on equity (ROE)?
Bitwise Bitcoin ETF (BITB) has a return on equity of -10.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Bitwise Bitcoin ETF's operating cash flow?
Bitwise Bitcoin ETF (BITB) generated $39.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Bitwise Bitcoin ETF's total assets?
Bitwise Bitcoin ETF (BITB) had $3.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Bitwise Bitcoin ETF's debt-to-equity ratio?
Bitwise Bitcoin ETF (BITB) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bitwise Bitcoin ETF's return on assets (ROA)?
Bitwise Bitcoin ETF (BITB) had a return on assets of -10.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Bitwise Bitcoin ETF's Piotroski F-Score?
Bitwise Bitcoin ETF (BITB) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Bitwise Bitcoin ETF's earnings high quality?
Bitwise Bitcoin ETF (BITB) reported a net loss of $344.4M while generating $39.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.