$BITW

BlackRock reduced the minimum Bitcoin conversion to shares of its iShares Bitcoin Trust (IBIT) from $25 million to $1 million, expanding access to smaller institutional investors. The change allows for in-kind conversions, reducing transaction friction and potentially offering tax benefits. BlackRock's move follows increased institutional interest and competition among Bitcoin ETF issuers, with Bitwise also lowering its conversion threshold.

Bitwise Asset Management reported $1.8 billion in net inflows for H1 2026, despite a declining crypto market. CEO Hunter Horsley attributed this to demand for yield over price growth, with four funds attracting over $100 million each. The Bitwise 10 Crypto Index ETF (BITW) declined 34% in Q1 2026 due to market downturns and investor withdrawals, despite a fee reduction.

Bitwise 10 Crypto Index ETF (BITW) filed a Form 10-Q for the period ended June 30, 2026. The fund, trading on NYSE Arca under BITW, holds BTC, ETH, XRP, SOL, HYPE, ADA, SUI, LTC, LINK, and XLM, covering about $1.6T of a $2.2T crypto market cap. As of Aug. 2, 2026, it had 14,141,947 shares outstanding, and the filing highlights volatility and other fund risks.

Bitwise Investment Advisers filed a Form 10-Q for the Bitwise 10 Crypto Index ETF (BITW) for the period ended June 30, 2026. The filing says BITW trades on NYSE Arca and had 14,141,947 shares outstanding as of Aug. 2, 2026. It lists major holdings (BTC, ETH, XRP, SOL, etc.) and outlines index methodology and risk disclosures.

Bitwise cut about 14% of staff, reducing headcount from roughly 180 to 155, according to a Bitwise spokesperson. CEO Hunter Horsley told Bloomberg the firm still expects growth and noted its February acquisition of Chorus One to expand staking. The article also cites similar crypto-industry layoffs at Coinbase, BitGo, Robinhood and others, and notes BITW shares down over 30% since January.