WisdomTree Bitcoin Fund (BTCW) Launches in Historic First Wave of Bitcoin ETFs
January 11 2024 - 7:00AM
Business Wire
WisdomTree unlocks Bitcoin exposure within the
ETF wrapper in the U.S., in line with the firm’s leadership in
“Responsible DeFi”
WisdomTree, Inc. (NYSE: WT), a global financial innovator, today
announced the launch of the WisdomTree Bitcoin Fund (BTCW). The
historic leading wave of spot Bitcoin ETFs marks the first time
U.S. investors have access to exposure to the price of spot bitcoin
within the ETF wrapper.
The WisdomTree Bitcoin Fund (BTCW) is listed on the Cboe BZX
Exchange with an expense ratio of 0.30%, although for a six-month
period commencing today, the entire 0.30% will be waived (which
represents the sponsor’s fee) for the first $1.0 billion of the
Fund’s assets. The WisdomTree Bitcoin Fund’s investment objective
is to gain exposure to the price of bitcoin, less expenses and
liabilities of the Fund’s operations.
For more information on the WisdomTree Bitcoin Fund (BTCW),
please review yesterday’s press release announcing that the fund
was declared effective by the U.S. Securities and Exchange
Commission (SEC).
Engagement with regulators is at the center of WisdomTree’s
“responsible DeFi” ethos, which prioritizes innovation and
exploration within the digital assets ecosystem while upholding the
foundational principles of transparency, integrity and protection
of customer assets. The WisdomTree Bitcoin Fund is not endorsed,
indemnified or guaranteed by any regulatory agency.
The WisdomTree Bitcoin Fund has filed a registration statement
(including a prospectus) with the SEC for the offering to which
this communication relates. Before you invest, you should read the
prospectus in that registration statement and other documents the
WisdomTree Bitcoin Fund has filed with the SEC for more complete
information about the WisdomTree Bitcoin Fund and this offering.
You may get these documents for free by visiting EDGAR on the SEC
Web site at www.sec.gov or by visiting the fund detail page.
Alternatively, the WisdomTree Bitcoin Fund will arrange to send you
the prospectus if you request it by calling toll free at
1-866-909-9473.
This material must be preceded or accompanied by a
prospectus. You should read the prospectus before investing.
Bitcoin and, accordingly, the WisdomTree Bitcoin Fund which holds
bitcoin, are highly speculative and involve a high degree of risk,
including the potential for loss of the entire investment. An
investment in the WisdomTree Bitcoin Fund involves significant
risks (including the potential for quick, large losses) and may not
be suitable for all shareholders. You should carefully consider
whether your financial condition permits you to invest in the
WisdomTree Bitcoin Fund and you should be willing to accept more
risk than may be involved with other exchange traded products or
ETFs that do not hold bitcoin.
Extreme volatility of trading prices that many digital
assets, including bitcoin, have experienced in recent periods and
may continue to experience, could have a material adverse effect on
the value of the Shares and the Shares could lose all or
substantially all of their value. The value of the Shares is
dependent on the acceptance of digital assets, such as bitcoin,
which represent a new and rapidly evolving industry. Digital assets
such as bitcoin were only introduced within the past two decades,
and the medium-to-long term value of the Shares is subject to a
number of factors relating to the capabilities and development of
blockchain technologies and to the fundamental investment
characteristics of digital assets. Regulatory changes or actions
may affect the value of the Shares or restrict the use of Bitcoin,
mining activity or the operation of the Bitcoin Network or the
Digital Asset Markets in a manner that adversely affects the value
of the Shares. Digital Asset Markets may experience fraud, business
failures, security failures or operational problems, which may
adversely affect the value of Bitcoin and, consequently, the value
of the Shares.
The WisdomTree Bitcoin Fund is not a fund registered under the
Investment Company Act of 1940, as amended (“1940 Act”), and is not
subject to regulation under the 1940 Act, unlike most exchange
traded products or ETFs. The WisdomTree Bitcoin Fund is also not a
commodity pool for purposes of the Commodity Exchange Act of 1936,
as amended, and the sponsor is not subject to regulations by the
Commodity Futures Trading Commission as a commodity pool operator
or commodity trading advisor. The WisdomTree Bitcoin Fund’s shares
are neither interests in nor obligations of the sponsor or the
trustee or any of their affiliates.
About WisdomTree
WisdomTree is a global financial innovator, offering a
well-diversified suite of exchange-traded products (ETPs), models,
solutions and products leveraging blockchain-enabled technology. We
empower investors and consumers to shape their future and support
financial professionals to better serve their clients and grow
their businesses. WisdomTree is leveraging the latest financial
infrastructure to create products that provide access, transparency
and an enhanced user experience.
As of January 10, 2024, WisdomTree currently has approximately
$99.5 billion in assets under management globally.
For more information about WisdomTree, visit:
https://www.wisdomtree.com.
Please visit us on X, formerly known as Twitter, at
@WisdomTreeNews.
WisdomTree® is the marketing name for WisdomTree, Inc. and its
subsidiaries worldwide.
Important Information
Carefully consider the investment objectives, risks, charges,
and expenses of the Funds before investing. To obtain a prospectus
containing this and other important information, please visit
https://www.wisdomtree.com/investments. Read the prospectus
carefully before investing.
Foreside Fund Services, LLC, serves as the marketing agent
for the WisdomTree Bitcoin Fund (BTCW). Foreside Fund Services,
LLC, is not affiliated with WisdomTree.
Category: Business Update
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Media Relations WisdomTree, Inc. Jessica Zaloom +1.917.267.3735
jzaloom@wisdomtree.com / wisdomtree@fullyvested.com
Investor Relations WisdomTree, Inc. Jeremy Campbell
+1.646.522.2602 Jeremy.campbell@wisdomtree.com
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