Bitwise Trendwise Bitcoin and Treasuries… (BITC) Performance
BITC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.0% since Dec 31, 2025
- 1 year
- −7.7% total return
- 3 years
- +29.5% a year
- Since first price
- +26.1% a year since 2023
BITC trailing returns vs SPY, QQQ, AGG
| Period | BITC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.4% | −3.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.8% | +1.8% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.1% | −5.1% | +7.8% | +8.4% | −1.5% |
| YTD | +3.0% | +3.0% | +12.3% | +15.1% | −1.0% |
| 1 year | −7.7% | −10.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +117.3%+29.5%/yr | +99.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMar 21, 2023 | +129.9%+26.1%/yr | +111.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BITC vs SPY
From Mar 21, 2023: BITC grew to $22,989, SPY to $19,898.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BITC returns by calendar year
1 of 2 full years positive. Best 2024 (+102.8%), worst 2025 (−20.5%). 2026 is year to date.
BITC annual returns table
| Year | BITC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.0% | −14.8% | +12.3% | +15.1% | −1.0% |
| 2025 | −20.5% | −25.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +102.8% | −31.3% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BITC largest drawdowns
Now 29.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 17, 2024 | −33.2% | Jul 8, 2026 | not yet | 1.6 years | 1.8 years so far |
| Mar 13, 2024 | −31.3% | Sep 6, 2024 | Nov 11, 2024 | 6 months | 8 months |
| Jul 13, 2023 | −23.1% | Sep 11, 2023 | Oct 24, 2023 | 2 months | 3 months |
| Apr 13, 2023 | −17.3% | Jun 15, 2023 | Jun 23, 2023 | 2 months | 2 months |
| Jan 8, 2024 | −17.3% | Jan 23, 2024 | Feb 9, 2024 | 15 days | 32 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BITC risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +37.3% | +27.5% |
| Volatility (annualized) | 45.9% | 44.1% |
| Sharpe ratio | 0.80 | 0.65 |
| Sortino ratio | 1.96 | 1.48 |
| Best month | +46.1% | +46.1% |
| Worst month | −17.7% | −17.7% |
| Best 12 months | +136.0% | +136.0% |
| Worst 12 months | −24.6% | −24.6% |
| Positive months | 58% | 57% |
| Beta vs S&P 500 | 1.35 | — |
| Correlation with S&P 500 | 0.36 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BITC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 32 | −24.6% | +34.3% | +136.0% | 62% |
| 3-year (a year) | 8 | +25.5% | +31.4% | +41.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
BITC performance overview
Bitwise Trendwise Bitcoin and Treasuries… (BITC) returned −7.7% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +26.1% a year, turning $10,000 into about $22,989. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.2%, from Dec 17, 2024 to Jul 8, 2026; the fund has not yet regained that high. Volatility has been 44.1% a year.
Related: BITC chart, BITC dividends. See the BITC overview for the latest quote and fund facts.
BITC performance FAQ
What is the BITC return over the past year?
BITC returned −7.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 10.7%.
How much would $10,000 invested in BITC be worth?
$10,000 invested in BITC at its first recorded close on March 21, 2023 would be worth about $22,989 on October 23, 2026 with distributions reinvested.
What was the worst year for BITC?
The worst calendar year was 2025, with a total return of −20.5%. The best was 2024 at +102.8%.
What is the biggest drawdown of BITC?
The largest peak-to-trough decline was −33.2% between December 17, 2024 and July 8, 2026. It has not yet recovered to that high; it is 29.2% below its peak.
How volatile is BITC?
Over the past 3 years BITC had an annualized volatility of 45.9% and a Sharpe ratio of 0.80 (excess return over 1–3 month T-bills per unit of risk).