# Bitwise 10 Crypto Index ETF: Form 10-Q for the period ended Sep 30, 2022

- Company: [Bitwise 10 Crypto Index ETF](/companies/bitw.md) (CIK 1723788)
- Form: 10-Q
- Filed: 2022-11-04
- Accepted by EDGAR: Nov 4, 2022, 13:56 ET
- Period: 2022-09-30
- Accession: 0000950170-22-022150
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1723788/000095017022022150/bitw-20220930.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1723788/000095017022022150/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2022-09-30.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Income tax | 9 months, 2022-01-01 to 2022-09-30 | $0 | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 3 months, 2022-07-01 to 2022-09-30 | $31.7m | us-gaap:NetIncomeLoss |
| Net income | 9 months, 2022-01-01 to 2022-09-30 | −$606.1m | us-gaap:NetIncomeLoss |
| Cash and equivalents | at 2022-09-30 | $1.3m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Total assets | at 2022-09-30 | $369.2m | us-gaap:Assets |
| Total liabilities | at 2022-09-30 | $780.4k | us-gaap:Liabilities |
| Shares outstanding | at 2022-09-30 | 20,241,947 shares | dei:EntityCommonStockSharesOutstanding |

## Management's discussion and analysis

As filed, 2,397 characters.

(a)

The Trust offers the Shares pursuant to Rule 506 of Regulation D under the Securities Act. The Shares offered by the Trust have not been registered under the Securities Act, or any state or other securities laws, and were offered and sold only to “accredited investors” within the meaning of Rule 501(a) of Regulation D under the Securities Act, and in compliance with any applicable state or other securities laws.

The table below describes the Shares offered, the Shares sold and the average and range of prices at which the Shares were offered and sold by the Trust. All Shares initially offered and sold by the Trust are restricted securities pursuant to Rule 144 under the Securities Act. Until the Shares sold by the Trust become unrestricted in accordance with Rule 144, the certificates or other documents evidencing the Shares will contain legends stating that the Shares have not been registered under the Securities Act and referring to the restrictions on transferability and sale of the Shares under the Securities Act. Such legends are removed upon Shares becoming unrestricted in accordance with Rule 144.

To date, no Shares, other securities of the Trust, or options to acquire such other securities were issued in exchange for services provided by any person or entity.

As of November 18, 2021, the Sponsor to the Trust has closed the acceptance of all subscriptions to the Bitwise 10 Crypto Index Fund, pursuant to its rights under Sections 5 and 6 of the Trust Agreement.

| Period | Shares Offered | Shares Sold1 | Number of Purchasers | Avg. Price Per Share1 | High Price Per Share1 | Date | Low Price Per Share1 | Date |
| --- | --- | ---: | ---: | ---: | ---: | --- | ---: | --- |
| January 1, 2021 to March 31, 2021 | Unlimited | 4,647,510 | 536 | $34.65 | $51.02 | 3/30/21 | $28.82 | 1/21/21 |
| April 1, 2021 to June 30, 2021 | Unlimited | 335,785 | 192 | $49.03 | $60.39 | 5/11/21 | $31.44 | 6/22/21 |
| July 1, 2021 to September 30, 2021 | Unlimited | 40,296 | 39 | $41.15 | $53.19 | 9/2/21 | $28.62 | 7/20/21 |
| October 1, 2021 to December 31, 2021 | Unlimited | 86,116 | 15 | $62.13 | $68.87 | 11/9/21 | $52.36 | 10/5/21 |
| January 1, 2022 to March 31, 2022 | Unlimited | — | — | — | — | — | — | — |
| April 1, 2022 to June 30, 2022 | Unlimited | — | — | — | — | — | — | — |
| July 1, 2022 to September 30, 2022 | Unlimited | — | — | — | — | — | — | — |

31

## Market risk

As filed, 388 characters.

The Trust Agreement does not authorize the Trustee to borrow for payment of the Trust’s ordinary expenses. The Trust does not engage in transactions in foreign currencies which could expose the Trust or holders of Shares to any foreign currency related market risk. The Trust does not invest in derivative financial instruments and has no foreign operations or long-term debt instruments.

## Controls and procedures

As filed, 1,465 characters.

### Conclusion Regarding the Effectiveness of Disclosure Controls and Procedures

The Trust maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in its Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Principal Executive Officer and Principal Financial and Accounting Officer of the Sponsor, and to the Board of Directors of the Sponsor, as appropriate, to allow timely decisions regarding required disclosure.

Under the supervision and with the participation of the Principal Executive Officer and the Principal Financial and Accounting Officer of the Sponsor, the Sponsor conducted an evaluation of the Trusts disclosure controls and procedures, as defined under Exchange Act Rule 13a-15(e). Based on this evaluation, the Principal Executive Officer and the Principal Financial and Accounting Officer of the Sponsor concluded that the Trust’s disclosure controls and procedures were effective as of the end of the period covered by this report.

### Changes in Internal Control Over Financial Reporting

There was no change in the Trust’s internal controls over financial reporting that occurred during the Trust’s most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, these internal controls.

## Risk factors

As filed, 251 characters.

There have been no material changes to the Risk Factors last reported under Item 1A of the registrant’s annual report on Form 10-K except as noted under Item 1A of the registrant's quarterly report for the period ended September 30, 2022 on Form 10-Q.

Filed Nov 4, 2022.
Source: SEC EDGAR, the filing index for accession 0000950170-22-022150. Last ingested by Listed: Oct 24, 2026, 15:15 ET. No prices; not investment advice.