Bitwise Is Shutting Down Six Crypto Option ETFs
Investors holding these option funds face automatic cash redemptions this August after SEC yields hit zero.
Advertising disclosure: we may earn a commission when you join an operator via links on this page, at no cost to you. This never dictates our ratings. How we make money
Key takeaways
- Bitwise is liquidating six crypto option exchange-traded funds.
- All six funds reported a 0% 30-day SEC yield prior to the liquidation announcement.
- Investors still holding shares will receive automatic cash redemptions in August.
Bitwise is liquidating six of its crypto option ETFs. The underlying strategy failed to generate real income, so remaining investors face automatic cash redemptions this August.
These funds grabbed attention early on by pitching payouts as high as 25%. In reality, those distributions were mostly funded by handing investors back their own principal capital, not from net trading profits. Right now, all six products report a 0% 30-day SEC yield.
Holding shares through the shutdown? You won't need to file a manual transfer. Bitwise will automatically convert remaining holdings into cash during the August payout process.
Why it matters
Double-digit yield numbers look great on paper, but big headline figures lie. When a fund pays you using your original deposit instead of actual market profit, you aren't earning income. You're getting paid back in pieces. Fund managers keep launching complex derivative products for crypto assets, so traders need to check where a yield actually comes from before buying in.
Source: CryptoSlate
Top Crypto Casinos Right Now
🇺🇸 Showing sites that accept players from United States Change country
Advertising disclosure: we may earn a commission when you join an operator via links on this page, at no cost to you. This never dictates our ratings. How we make money
SIGN UP BONUS 150%
- Taking bets since 1996, same owners the whole way
- Sportsbook, casino and poker on one balance
- Bitcoin out in 1–24 hours
Why we chose it: Thirty years of paying people, no ownership shuffles, no mass-confiscation scandal. You trade crypto choice and a modern interface for that.
More info Less info
- Online since
- 2011
- Licence
- Curaçao
- Min deposit
- $25
- Payout time
- 1–24 hours (crypto)
- KYC
- Required
Restricted countries: Australia, Austria, Germany, United Kingdom, France, Slovakia.
100% Welcome Bonus up to 5BTC
- Taking US action since 1994
- 200% crypto welcome bonus
- Sportsbook, racebook and casino on one balance
Why we chose it: Built for American bettors, priced accordingly. Biggest welcome bonus of the five, attached to the heaviest rollover of the five.
More info Less info
- Online since
- 1994
- Licence
- Curaçao
- Payout time
- 24–48 hours (crypto)
- Wagering
- 18x sportsbook / 30x casino
- KYC
- Required
Restricted countries: Belgium, Costa Rica, Croatia, Curaçao, Aruba, Sint Maarten, Caribbean Netherlands, France and 11 more.
20% Cashback up to 10,000 USDT
- 17 coins, the widest cashier of the US-facing books
- $10 crypto minimum against $50 for cards
- Welcome free bet carries no rollover
Why we chose it: Widest coin support of anything that still takes Americans, with poker and esports on the same balance. The complaint record is why it is not higher.
More info Less info
- Online since
- 2004
- Licence
- Panama
- Min deposit
- $10
- Payout time
- Within 24 hours (crypto)
- Wagering
- None on the free bet, 10x on the crypto boost
- KYC
- Required
Restricted countries: Australia, United Kingdom, France, Netherlands, Malta, Slovenia, Panama, North Korea and 19 more.
Priya Nair
Priya covers the AI side of crypto — agent tokens, decentralised compute and where the two industries actually meet.
