WisdomTree Bitcoin Fund Financials
This page shows WisdomTree Bitcoin Fund (BTCW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
Financial Health Signals
WisdomTree Bitcoin Fund passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, WisdomTree Bitcoin Fund generates $-5.02 in operating cash flow ($184.2M OCF vs -$36.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
WisdomTree Bitcoin Fund reported -$36.7M in net income in fiscal year 2025. This represents a decrease of 128.5% from the prior year.
Cash & Balance Sheet
WisdomTree Bitcoin Fund held $50K in cash against $0 in long-term debt as of fiscal year 2025.
WisdomTree Bitcoin Fund had 2M shares outstanding in fiscal year 2025.
Margins & Returns
WisdomTree Bitcoin Fund's ROE was -26.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 61.9 percentage points from the prior year.
Capital Allocation
BTCW Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $10.7M-71.2% | $37.2M+192.1% | -$40.3M-136.6% | $110.0M+998.3% | $10.0M+199.7% | -$10.0M-154.4% | $18.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | -$40.3M | N/A | N/A | N/A | $18.5M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BTCW Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $182.0M+9.7% | $165.9M-10.4% | $185.2M-48.7% | $360.6M+52.8% | $236.0M+188.5% | $81.8M+1.0% | $81.0M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | N/A | N/A | $32.5M | N/A | N/A | N/A | $3K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $37K+10.0% | $34K-99.9% | $32.6M+41028.2% | $79K+75.0% | $45K | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $182.0M+9.7% | $165.9M+8.7% | $152.6M-57.7% | $360.5M+52.8% | $235.9M | N/A | N/A |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BTCW Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.4M-122.7% | $23.9M-85.8% | $167.6M+1250.8% | -$14.6M+89.9% | -$144.1M-1229.0% | -$10.8M+82.7% | -$62.5M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $5.4M+109.6% | -$56.4M+58.3% | -$135.1M-1027.4% | $14.6M-89.9% | $144.1M+1229.4% | $10.8M-82.6% | $62.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BTCW Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | -26.4% | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | -21.8% | N/A | N/A | N/A | 22.8% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.000.0 | 0.00-0.2 | 0.21+0.2 | 0.000.0 | 0.00 | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is WisdomTree Bitcoin Fund profitable?
No, WisdomTree Bitcoin Fund (BTCW) reported a net income of -$36.7M in fiscal year 2025.
What is WisdomTree Bitcoin Fund's return on equity (ROE)?
WisdomTree Bitcoin Fund (BTCW) has a return on equity of -26.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is WisdomTree Bitcoin Fund's operating cash flow?
WisdomTree Bitcoin Fund (BTCW) generated $184.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are WisdomTree Bitcoin Fund's total assets?
WisdomTree Bitcoin Fund (BTCW) had $139.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is WisdomTree Bitcoin Fund's debt-to-equity ratio?
WisdomTree Bitcoin Fund (BTCW) 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 WisdomTree Bitcoin Fund's return on assets (ROA)?
WisdomTree Bitcoin Fund (BTCW) had a return on assets of -26.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is WisdomTree Bitcoin Fund's Piotroski F-Score?
WisdomTree Bitcoin Fund (BTCW) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are WisdomTree Bitcoin Fund's earnings high quality?
WisdomTree Bitcoin Fund (BTCW) has an earnings quality ratio of -5.02x, considered mixed quality. 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.