Here are the 10-K annual reports from Bitwise Ethereum ETF (ETHW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow ETHW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ETHW filings page.
Bitwise Ethereum ETF is a Delaware statutory trust that offers exchange-traded shares giving investors exposure to the value of ether, less expenses. The Shares trade on NYSE Arca under the symbol ETHW and are issued and redeemed in blocks of 10,000 Shares called Baskets.
The Trust is passively managed and holds ether directly, valuing its portfolio using the CME CF Ether–Dollar Reference Rate – New York Variant (ETHUSD_NY). On December 31, 2025, this reference price was $2,964.79. The Trust conducts cash creations and redemptions and then buys or sells ether through approved trading counterparties or via Coinbase Prime.
Coinbase Custody Trust Company safeguards ether in segregated cold-storage accounts with multilayer security, while BNY Mellon holds cash and serves as administrator and transfer agent. The Trust’s NAV is calculated once each trading day at 4:00 p.m. ET by multiplying ether holdings by the Pricing Index and subtracting accrued expenses, then dividing by Shares outstanding. As of March 3, 2026, the Trust had 15,280,000 Shares outstanding and non‑affiliate equity market value of $269,274,600.