Bitwise Announces Updates to ETF Lineup

Rhea-AI Summary

Bitwise (BTOP, BWEB) will close and liquidate two ETFs: Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) and Bitwise Web3 ETF (BWEB). The company reports $11 billion in client assets as of April 1, 2026.

Key dates: last day to purchase creation units and last trading day are May 21, 2026; final NAV calculation is May 28, 2026; liquidation and expected cash redemptions to shareholders are on or around May 29, 2026. Shareholders who retain shares past May 21 will be automatically redeemed for cash via brokers.

Positive

• Orderly wind-down with set trading, NAV, and liquidation dates (May 21–29, 2026)
• Cash redemption via brokers on or around May 29, 2026

Negative

• Fund closures — BTOP and BWEB will permanently liquidate
• Trading cessation — last day of trading for both ETFs is May 21, 2026
• Shareholder impact — investors holding shares after May 21 will be auto-redeemed for cash

SAN FRANCISCO, May 1, 2026 /PRNewswire/ -- Bitwise Asset Management, the global crypto asset manager with $11 billion in client assets (as of April 1, 2026), plans to close and liquidate the Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) and the Bitwise Web3 ETF (BWEB).

Ticker	ETF Name	Listing Exchange	Last Day to Purchase Creation Units	Last Day of Trading	Final NAV Calculation Date	Liquidation Date
BTOP	Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF	NYSE Arca	21-May-2026	21-May-2026	28-May-2026	29-May-2026
BWEB	Bitwise Web3 ETF	NYSE Arca	21-May-2026	21-May-2026	28-May-2026	29-May-2026

Shareholders who do not sell their shares of the ETFs by May 21, 2026, will have their shares automatically redeemed for cash based on each ETF's net asset value (NAV). The redemption is expected to be provided to shareholders through their brokers or other financial intermediaries on or around Friday, May 29, 2026.

About Bitwise
Bitwise Asset Management is a global crypto asset manager with $11 billion in client assets and a suite of over 70 investment products spanning ETFs, separately managed accounts, private funds, hedge fund strategies, and staking. The firm has an eight-year track record and today serves more than 5,000 private wealth teams, RIAs, family offices, and institutional investors, as well as 21 banks and broker-dealers. The Bitwise team of over 200 technology and investment professionals is backed by leading institutional investors and has offices in San Francisco, New York, and London.

Risks and Important Information

Carefully consider a Fund's investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in each Fund's full or summary prospectus, which may be obtained by visiting: for BWEB, bwebetf.com/materials; for BTOP, btopetf.com/materials. Investors should read it carefully before investing.

Investing involves risk, including the possible loss of principal. There is no guarantee or assurance that a Fund's methodology will result in the Fund achieving positive investment returns or outperforming other investment products.

The technology relating to crypto assets and blockchain is new and developing. Trading in crypto assets or crypto asset derivatives comes with significant risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks and risk of losing principal or all of your investment. In addition, crypto asset markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing.

BTOP and BWEB are distributed by Foreside Fund Services, LLC, which is not affiliated with Bitwise or its affiliates.

Media Contact
Tova Kaufmann
pr@bitwiseinvestments.com

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SOURCE Bitwise Asset Management

FAQ

What is happening to Bitwise ETF BTOP and when will it liquidate?

Both BTOP and BWEB will close and liquidate, with liquidation dated May 29, 2026. According to the company, last trading and last purchase of creation units is May 21, 2026, and final NAV will be calculated on May 28, 2026.

If I hold BTOP shares after May 21, 2026 what happens to my investment?

Shares retained after May 21, 2026 will be automatically redeemed for cash based on NAV. According to the company, cash redemption is expected to be provided through brokers on or around May 29, 2026.

When will I receive cash for BTOP or BWEB redemptions and how will it be delivered?

Redemptions are expected on or around May 29, 2026 and delivered through brokers or intermediaries. According to the company, the final NAV calculation date for both ETFs is May 28, 2026.

What are the important dates for BWEB liquidation and final NAV?

Last day to purchase creation units and last trading day are May 21, 2026; final NAV is May 28, 2026. According to the company, liquidation and expected cash payments occur on or around May 29, 2026.

How does Bitwise's reported assets under management relate to these ETF closures?

Bitwise reports $11 billion in client assets as of April 1, 2026 while closing BTOP and BWEB. According to the company, the liquidation applies only to these two ETFs with the stated wind-down timeline.