As of September 30, 2024, the WisdomTree Bitcoin Fund reported a total investment in Bitcoin valued at $235.96 million, a significant increase from $50,000 as of December 31, 2023, indicating a robust growth in assets. The net assets of the fund stood at $235.91 million, with a net asset value (NAV) per share of $67.60, up from $50.00 per share at the end of the previous fiscal year.
The fund's performance for the three months ended September 30, 2024, included a net realized and unrealized gain on investment in Bitcoin of $10.11 million, contributing to a net increase in net assets from operations of $10.02 million. For the nine-month period, the net increase in net assets resulting from operations was $18.44 million, with total returns based on NAV per share of 35.20% for the nine months and 0.43% for the three months.
The fund's investment strategy is concentrated solely in Bitcoin, exposing it to significant market risks and price volatility. As of September 30, 2024, the Trust held a net closing balance of 3,705.4872 bitcoins, valued at approximately $235.96 million based on the market price of $63,677.63 per bitcoin. The Trust's principal market for valuation is the platform operated by Coinbase, Inc.
The Sponsor, WisdomTree Digital Commodity Services, LLC, waived $5,700 of its fee for the three months and $75,748 for the nine months ended September 30, 2024. The Sponsor Fee is set at 0.25% per annum of the Trust’s daily net asset value. Notably, the Sponsor waived the fee entirely on the first $1.0 billion of Trust assets from January 11, 2024, to July 11, 2024, but this waiver expired and was not renewed thereafter.
The Trust does not generate income and relies on selling Bitcoin to cover the Sponsor’s Fee and other expenses. As of September 30, 2024, the Trust's only ordinary recurring expense is the Sponsor Fee, and it may incur additional liabilities that would also necessitate the sale of Bitcoin to cover.
Overall, the WisdomTree Bitcoin Fund has demonstrated significant growth in assets and performance metrics over the past fiscal period, reflecting the volatility and potential of the Bitcoin market.
About WisdomTree Bitcoin Fund
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