Bitwise' 10 Crypto Index ETF Loses Nearly Half Its Value as Bitcoin Dominance Grows

Bitwise's 10 Crypto Index ETF saw its net assets plummet by nearly half in the first six months of 2026, from $1.03 billion to just over $532.8 million.

The fund suffered a negative 36.16% Principal Market NAV total return per share during this period, with an outstanding share count decline of 18.97%.

BITW's portfolio became increasingly concentrated in Bitcoin, which rose from 75.11% to 77.81% of shareholders' equity between December and June.

The fund recorded $430.7 million of unrealized depreciation and a net investment loss of $2.8 million, partly offset by $94.1 million of realized gains.