AETH

Bitwise Ethereum Strategy ETF

Some of the largest companies in the world today are building projects on Ethereum. AETH provides Ethereum-linked exposure in a traditional, regulated ETF, backed by the specialized expertise and nationwide presence of the Bitwise team. The fund invests in CME Ethereum futures. The fund does not invest directly in Ethereum.

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Why Invest in AETH

Ethereum is the most popular platform in the world for building crypto applications. With AETH, investors gain exposure to Ethereum futures in the widely preferred ETF format while benefiting from the support and guidance of Bitwise’s industry-leading team of crypto experts.

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The Heart of Crypto Innovation

Bitwise CIO Matt Hougan calls Ethereum “the world’s most exciting crypto asset.” Today, a majority of the most popular crypto applications—from decentralized finance (DeFi) to stablecoins to non-fungible tokens (NFTs)—are built on Ethereum. These apps support millions of users and execute billions of annual transactions.

An Asset Driven by Revenue

Ethereum is unlike many other crypto assets in that its value is driven directly by the use of the Ethereum blockchain. Every time people use an application built on Ethereum, they have to pay a fee using the Ethereum asset. This fee is returned to Ethereum investors in a manner similar to stock buybacks and dividends, providing an important starting point for valuations.

An ETF Backed by Crypto Experts

Bitwise is the largest crypto index fund manager in America, with the largest suite of crypto-themed ETFs.* Bitwise’s nationwide team of more than 60 professionals provides AETH investors the tools, insights, and specialized experience to help them navigate the space with confidence.

* By fund AUM, based on company filings as of December 31, 2023.
Fund Summary

About the AETH Fund

Fund Details

Data as of 05/28/2024

Ticker

AETH

Net Assets (AUM)

$15,097,221

SEC Yield**

3.23%

Fund Type

ETF

Net Expense Ratio*

0.85%

Legal Counsel

Chapman and Cutler, LLP

CUSIP

091748301

Gross Expense Ratio*

0.92%

Administrator

Bank of New York Mellon

ISIN

US0917483010

Inception Date

September 29, 2023

Distributor

Foreside Fund Services, LLC

Exchange

NYSE Arca

Adviser

Bitwise Investment Manager, LLC

Custodian

Bank of New York Mellon

* The total annual fund operating expenses are 0.92%. The Fund's investment adviser has contractually agreed to waive its advisory fees and/or assume as its own expense certain expenses otherwise payable by the Fund to the extent necessary to ensure that total annual fund operating expenses do not exceed 0.85% of average net daily assets until October 2, 2025.

** 30-Day SEC Yield – Reflects the dividends and interest earned during the previous month, after the deduction of the fund’s expenses. This is also referred to as the “standardized yield.” Data as of previous month-end.

Fund Details

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Fact Sheet

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Prospectus

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Investment Case

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Summary Prospectus

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Bitwise Regional Contacts

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SAI

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ETF Holdings

Data as of 05/28/2024

Name
Security ID
Shares/Contracts
Notional Value
Market Value
Futures
Exposure Weight (%)
CME Ether Future Jun24
DCRM4 CUR
78
$15,094,950.00
100.00%
TREASURY BILL DN 7/24
912797KR7
4,200,000
$4,162,016.42
CASH
CASH
$10,935,205.00

Holdings are subject to change. Current and future holdings are subject to risk.

Premium / Discount

Data as of 05/28/2024

NAV
Market Price
Difference
Premium/ Discount
$50.41
$50.51
$0.10
0.21%
Q4 2023
2023
Q1 2024
Q2 2024
2024
Days Traded at NAV
Q4 202313
202313
Q1 20246
Q2 20246
202412
Days Traded at Premium
Q4 202331
202331
Q1 202440
Q2 202417
202457
Days Traded at Discount
Q4 202319
202319
Q1 202415
Q2 202418
202433

Net Asset Value (NAV) and Market Price

Data as of 05/28/2024

NAV: $50.41
Market Price: $50.51
NAV Change: $1.15 / 2.33%
Market Price Change: $1.21 / 2.45%
Median Bid-Ask Spread (30-Day): 0.22%
To

30 Day Median Bid-Ask Spread: The spread is calculated from (i) sampling the ETF's NBBO as of the end of each 10-second interval during each trading day of the last 30 calendar days; (ii) dividing the difference between each such bid and offer by the midpoint of the NBBO; and (iii) identifying the median of those values.

AETH Quarter-End Performance

Data as of 03/31/2024

3 Months
YTD
1 Year
Since Inception
NAV
3 Months47.68%
YTD47.68%
1 Year
Since Inception103.17%
Market Price
3 Months47.69%
YTD47.69%
1 Year
Since Inception103.19%

Performance data quoted represents past performance and is no guarantee of future results. Short-term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of one year or less are not annualized. For the most recent month-end performance, please call 1-866-880-7228.
 
Performance of one year or less is not annualized. NAV performance is calculated based on the official closing values as of 4:00 p.m. ET. Market Price performance reflects the midpoint of the bid-ask spread as of 4:00 p.m. ET, and does not represent the returns an investor would receive if shares were traded at other times. Fund returns are calculated net of expenses. Shares are subject to a 0.85% Expense Ratio that includes the management fee, custody charges for holding the fund’s assets charged by the custodian, and customary fees and expenses of the fund administrator and auditor.

Distributions

Month
Notice Date
Ex Date
Record Date
Pay Date
Ordinary Income
Long-term Capital Gains
Short-term Capital Gains
MonthDecember
Notice Date
Ex Date12/22/23
Record Date12/26/23
Pay Date12/28/23
Ordinary Income$2.144
Long-term Capital Gains
Short-term Capital Gains

Learn more about the Bitwise Ethereum Strategy ETF (AETH) today.

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