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WisdomTree Bitcoin Fund Financials

BTCW
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

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

Financial health score pending refresh

We are recalculating WisdomTree Bitcoin Fund's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Earnings Quality Mixed
-5.02x

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

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
-$36.7M
YoY-128.5%

WisdomTree Bitcoin Fund reported -$36.7M in net income in fiscal year 2025. This represents a decrease of 128.5% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
N/A
Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
-26.3%
YoY-61.9pp

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

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

BTCW Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue N/A 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 N/A
Gross Profit N/A 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 N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income -$33.9M+23.2% -$44.2M-512.8% $10.7M-71.2% $37.2M+192.1% -$40.3M-136.6% $110.0M+998.3% $10.0M+199.7% -$10.0M
Interest Expense N/A 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 N/A
Net Income -$33.9M N/A N/A N/A -$40.3M N/A N/A N/A
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

BTCW Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $147.3M+5.4% $139.7M-23.2% $182.0M+9.7% $165.9M-10.4% $185.2M-48.7% $360.6M+52.8% $236.0M+188.5% $81.8M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents N/A N/A N/A N/A $32.5M N/A N/A N/A
Inventory N/A 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 N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $31K+4.6% $30K-18.7% $37K+10.0% $34K-99.9% $32.6M+41028.2% $79K+75.0% $45K N/A
Current Liabilities N/A 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 N/A
Total Equity $147.3M+5.4% $139.7M-23.2% $182.0M+9.7% $165.9M+8.7% $152.6M-57.7% $360.5M+52.8% $235.9M N/A
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

BTCW Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$41.5M-2085.3% -$1.9M+64.9% -$5.4M-122.7% $23.9M-85.8% $167.6M+1250.8% -$14.6M+89.9% -$144.1M-1229.0% -$10.8M
Capital Expenditures N/A 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 N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow $41.5M+2085.3% $1.9M-64.9% $5.4M+109.6% -$56.4M+58.3% -$135.1M-1027.4% $14.6M-89.9% $144.1M+1229.4% $10.8M
Dividends Paid N/A 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 N/A

BTCW Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A 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 N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity -23.1% N/A N/A N/A -26.4% N/A N/A N/A
Return on Assets -23.1% N/A N/A N/A -21.8% N/A N/A N/A
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.000.0 0.000.0 0.000.0 0.00-0.2 0.21+0.2 0.000.0 0.00 N/A
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

No, WisdomTree Bitcoin Fund (BTCW) reported a net income of -$36.7M in fiscal year 2025.

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.

WisdomTree Bitcoin Fund (BTCW) generated $184.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

WisdomTree Bitcoin Fund (BTCW) had $139.7M in total assets as of fiscal year 2025, including both current and long-term assets.

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.

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.

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.

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