Bitwise 10-Crypto ETF Plunges $500M as Bitcoin Dominates Portfolio

The Bitwise 10-Crypto Index ETF suffered significant losses in the first half of 2026, with its net assets declining by nearly $500 million. The fund's net assets fell from $1.03 billion on December 31 to $532.8 million on June 30, a decrease of 48.27%. This contraction was due to both market performance and net redemptions.

The fund reported a negative 36.16% Principal Market NAV total return per share for the six months, while its outstanding share count declined by 18.97%. The losses were attributed to $430.7 million of unrealized depreciation and a $2.8 million net investment loss, partly offset by $94.1 million of realized gains.

The fund's investment schedule showed that Bitcoin rose from 75.11% of shareholders' equity in December to 77.81% in June, while Ethereum fell from 15.41% to 12.59%. The constituents also changed, with Hyperliquid and Stellar appearing in the June schedule, while Avalanche and Polkadot were absent.