Bitwise Bitcoin ETF (BITB) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 6, 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 figures describe an asset pool whose results and cash movements are dominated by portfolio valuation and fund-share activity, not operating sales.
The reversal from net income of$1.59B in FY2024 to a net loss of$344M in FY2025, alongside assets declining10.3% , indicates earnings are driven by changes in underlying holdings rather than recurring sales or operating margins.
The balance sheet is lightly encumbered: liabilities were
FY2024 operating cash flow was
Financial Health Signals
We do not publish a peer-relative financial health score for Bitwise Bitcoin ETF, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. 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 $920.5M in net income in Q3 2026. This represents an increase of 260.6% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
Not reported for Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Bitwise Bitcoin ETF's quarterly ROE was 29.0% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 23.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 44.5 percentage points.
Not reported for Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
Bitwise Bitcoin ETF spent $130.6M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 77.0% from the same quarter a year earlier. Against the prior quarter it is down 33.2%.
Not reported for Q3 2026.
Not reported for Q3 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.2B-33.3% | $2.1B-50.1% | $2.6B-19.1% | $3.4B-10.3% | $4.8B+89.9% | $4.3B+89.3% | $3.2B+36.4% | $3.8Bn/m |
| Cash & Equivalents | N/A | N/A | N/A | N/A | $0n/m | $0n/m | $0n/m | $0-100.0% |
| Total Liabilities | $14.1M-80.1% | $378K-43.5% | $2.3M-88.7% | $14.4M+53.4% | $70.9M+605.5% | $669K+177.6% | $20.4M-69.7% | $9.4Mn/m |
| Total Equity | $3.2B-32.6% | $2.1B-50.1% | $2.5B-18.6% | $3.4B-10.5% | $4.7B+87.8% | $4.3B+89.3% | $3.1B+39.6% | $3.8Bn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$57.9Mn/m | $70.0Mn/m | $113.0M-27.7% | $151.7Mn/m | -$124.7Mn/m | -$144.2Mn/m | $156.3Mn/m | -$24.2Mn/m |
| Financing Cash Flow | $57.9M-53.6% | -$70.0M-148.5% | -$113.0Mn/m | -$151.7M-727.7% | $124.7M+5.1% | $144.2M-64.3% | -$156.3M-109.7% | $24.2M+12081400.0% |
| Share Buybacks | $130.6M-77.0% | $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 |
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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 29.0%+23.6pp | -15.4%-38.0pp | -30.1%-15.7pp | -32.9%-65.5pp | 5.4%+0.1pp | 22.6%+40.3pp | -14.5%-42.3pp | 32.6% |
| Return on Assets | 28.9%+23.6pp | -15.4%-38.0pp | -30.1%-15.8pp | -32.8%-65.3pp | 5.3%0.0pp | 22.6%+40.3pp | -14.4%-41.4pp | 32.5% |
| Liabilities-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.020.0x | 0.000.0x | 0.010.0x | 0.00 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Debt-to-Equity, Asset Turnover, FCF Margin.
Where Bitwise Bitcoin ETF Ranks
Frequently Asked Questions
No, Bitwise Bitcoin ETF (BITB) reported a net loss of $1.3B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net loss of $344.4M.
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.
Bitwise Bitcoin ETF (BITB) generated $39.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Bitwise Bitcoin ETF (BITB) had $3.4B in total assets as of fiscal year 2025, including both current and long-term assets.
Bitwise Bitcoin ETF (BITB) had a liabilities-to-equity ratio of 0.00 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
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.
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.
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.