Bitwise Physical Bitcoin ETP

This website is operated by Bitwise Europe GmbH (“Bitwise”, “we”, “us”). The information on this website is intended for UK retail clients and other visitors in the United Kingdom. If you are not in the UK, local laws and rules may differ and the materials here may not be appropriate for you.

All content is provided for general information only. It does not constitute investment advice, tax or legal advice, an offer, or a solicitation to buy or sell any investment and must not be relied upon to make an investment decision. You should consider whether an investment is suitable for your circumstances and, where appropriate, seek independent professional advice.

Cryptoassets and crypto-linked products are high-risk. The FCA categorises retail crypto promotions as Restricted Mass Market Investments (RMMI). As such, additional prominence, risk-warning and risk-summary requirements apply to retail communications. You could lose all the money you invest.

Investments in cryptoassets or many crypto-linked products are generally not covered by the UK Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS). You should not expect to be protected if something goes wrong.

Access to certain pages, features, or transactions may be subject to client categorisation and appropriateness assessments required by FCA rules. We may ask you to complete checks or declarations before you can proceed.

Where this website contains a retail financial promotion for crypto or other RMMIs, you will see the FCA-prescribed risk warning and a link (“Take 2 mins to learn more”) to the FCA risk summary presented in a pop-up or dedicated page. For convenience, you can access that summary here at any time.

Where performance is shown, past performance is not a reliable indicator of future results. Any projections, targets, or forward-looking statements are inherently uncertain and may not be realised. Fees and expenses reduce returns.

Returns may be reduced by fees, charges, spreads, and taxes. Tax treatment depends on individual circumstances and may change. Seek professional advice if unsure.

Where a prospectus (including any base or supplemental prospectus) or KID/PRIIPs KIID or equivalent is provided, it is regulatory disclosure, not marketing. Those documents are generally outside the UK financial-promotion restriction.

In line with FCA rules for high-risk investments, we do not offer incentives to invest (e.g., refer-a-friend bonuses, monetary/non-monetary perks) in relation to retail crypto promotions.

External links are provided for convenience only. We do not control and are not responsible for third-party websites or their content. We take reasonable care to ensure accuracy but do not guarantee completeness, timeliness, or availability of the website or its contents; information may change without notice.

Our products or services may not be available in all jurisdictions or to all investors. Access may be restricted by law. You are responsible for understanding and complying with applicable laws and regulations.

For queries or complaints, contact: clients@bitwiseinvestments.com | Additional contact and legal information is available in our Terms of Website Use and Privacy Policy.

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The selected location is intended only for people resident in that country. If you are accessing from the UK, you should not use this version of the website or access the products and services shown here, as they are not available in your country and may not be suitable for you.

We recommend switching to your local version of our website to view information relevant to your jurisdiction.

The information provided in this advertising material is for informative purposes only and does not constitute investment advice, a recommendation or solicitation to conclude a transaction.

This website and all documentation and other information provided on or via it (all together this “website”) is issued by Bitwise Europe GmbH (“BEU” or the “Issuer”). This website is provided for illustrative, educational and information purposes only and may be subject to change.

Where this website constitutes an advertisement within the meaning of Article 22 of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”) or Regulation 3 of the Public Offers and Admissions to Trading Regulations 2024, and the relevant offer or admission to trading is subject to an obligation to draw up a prospectus, the applicable prospectus has been or will be published and is or will be available in the Resources section of the Bitwise Europe website at bitwiseinvestments.eu/resources/.

Bitwise Europe GmbH, Thurn- und Taxis-Platz 6, 60313 Frankfurt am Main, Germany, registered with the commercial register of the local court of Frankfurt am Main under HRB 116604, is the issuer of Exchange Traded Products (“ETPs”) described in this website under an applicable base prospectus approved by BaFin, or, where applicable, another competent authority, as supplemented from time to time, and the applicable final terms. Final terms are published and filed with the relevant competent authority in accordance with applicable law and are not subject to approval. The relevant product documentation identifies the competent authority that approved the applicable prospectus.

Approval of a prospectus means that the competent authority has scrutinised it against the applicable standards of completeness, comprehensibility and consistency, and it does not constitute an endorsement or recommendation of the Issuer or the ETPs. If you are considering investing in products issued by BEU you should check with your broker or bank that such products are available in your jurisdiction and suitable for your investment profile. A decision to invest any amount in an ETP offered by BEU should take into consideration your specific circumstances after seeking independent investment, tax and legal advice.

You should read the relevant base prospectus, any supplements and the applicable final terms before investing and, in particular, the section entitled “Risk Factors” for further details of the risks associated with an investment. Where required, you should also read the key information document under Regulation (EU) No 1286/2014 (PRIIPs), the product summary under the Consumer Composite Investments (Designated Activities) Regulations 2024 or the equivalent product disclosure applicable in your jurisdiction. The prospectuses, supplements, final terms, key information documents and other regulatory documents relevant to BEU’s ETPs are available electronically and free of charge in the “Resources” section of the Bitwise Europe website at bitwiseinvestments.eu/resources/.

Access to those documents is not conditional on completion of a registration process, on any country or investor-type selection, on acceptance of the Terms of Website Use or of any disclaimer limiting legal liability, or on payment of a fee, in accordance with Article 21(4) of the Prospectus Regulation or the FCA Handbook, Prospectus Rules. Warnings specifying the jurisdictions in which an offer or an admission to trading is being made may be displayed in connection with certain content and are not disclaimers limiting legal liability.

Any country or investor-type selection used on this website determines which marketing content may be displayed. It does not itself constitute a formal regulatory client classification, an assessment of appropriateness or suitability, confirmation of legal eligibility to invest, or investment advice.

If You Are in the UK, US, or Canada

Information contained in this website does not constitute, and under no circumstances is to be construed as, an offer to sell or a solicitation of an offer to buy securities, or any other step in furtherance of a public offering, in the United States or Canada, or any state, province or territory thereof, where neither the Issuer nor its products are authorised or registered for distribution or sale and where no prospectus of the Issuer has been filed with any securities regulator. Neither this website nor information in it should be taken, transmitted or distributed (directly or indirectly) into the United States.

In the UK, this website is provided for information purposes only, and is in any event provided in accordance with the exemption to the requirement, set out under section 21 of the Financial Services and Markets Act 2000, that communications relating to invitations or inducements to engage in investment activity be approved by a person authorized by the Financial Conduct Authority. As such, this website is directed only at persons who fall within a relevant exemption to the restriction on financial promotions as set out in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, such as investment professionals (Article 19); high net worth individuals (Article 48); high net worth companies, unincorporated associations etc. (Article 49); sophisticated investors (Article 50); self-certified sophisticated investors (Article 50A); and associations of high net worth or sophisticated investors (Article 51). Persons who do not fall within a relevant exemption should not access, or otherwise rely or act on this website, rather they should instead proceed to the Private Investor version of the website.  Neither the Issuer nor its products are authorised or regulated by the UK Financial Conduct Authority, and the content of this website has not been approved by an authorized person within the meaning of the Financial Services and Markets Act 2000.

Publications & Social Media Disclosure

Social media communications, including posts on LinkedIn and X, (all together “Social Media”) may constitute advertisements, financial promotions, investment recommendations within the meaning of Regulation (EU) No 596/2014, the Financial Services and Markets Act 2000 or other regulated communications depending on their content and the jurisdiction in which they are communicated. Unless expressly stated otherwise, they are not intended to constitute investment advice or a personal recommendation.

BEU makes all reasonable efforts to ensure that the information contained in documents and on Social Media is accurate and reliable; however, errors may occur. To the extent permitted by applicable law, documents and materials available on Social Media are provided without any express or implied warranties as to accuracy, validity, timeliness or completeness. Nothing in this paragraph excludes or limits any statutory or regulatory responsibility or liability that cannot lawfully be excluded or limited, including obligations applicable to advertisements or financial promotions and liability relating to a prospectus or other regulatory disclosure.

Unless expressly endorsed or adopted by Bitwise Europe, comments expressed by members of the online community represent those persons’ own views and are not endorsed by Bitwise Europe.

Risks of ETPs & Cryptocurrencies

An investment in an ETP backed by one or more cryptocurrencies, such as those issued by BEU, is dependent on the performance of the underlying cryptocurrency, less costs, but it is not expected to match the performance of the underlying asset precisely. Investing in ETPs also involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks and investors should be prepared to lose some or all of the amount invested.

ETPs backed by cryptocurrencies are highly volatile assets and performance is unpredictable. Past performance is not a reliable indicator of future performance. The market price of ETPs will vary and they do not offer a fixed income. The value of any ETP may be affected by exchange rates and the price movement of its underlying cryptocurrency(ies). This website may contain forward looking statements including statements regarding Bitwise Europe’s belief or current expectations with regards to the performance of certain asset classes. Forward looking statements are subject to certain risks, uncertainties and assumptions, and there can be no assurance that such statements will be accurate and actual results could differ materially from those indicated. You must not place reliance on forward-looking statements or any other similar information contained in this website.

Cryptocurrencies are highly volatile and are known for their extreme and rapid fluctuations in prices. While there may be potential for significant gains, you are at risk of losing part or all of your entire capital invested. The price of cryptocurrencies can fluctuate widely and, for example, may be impacted by global and regional political, economic or financial events, regulatory events or statements by regulators, investment trading, hedging or other activities by a wide range of market participants, forks in underlying protocols, disruptions to the infrastructure or means by which crypto assets are produced, distributed, stored and traded. Characteristics of cryptocurrencies and divergence of applicable regulatory standards create the potential for market abuse. The price of cryptocurrencies may also change due to shifting investor confidence in future outlook of the asset class.

For a detailed overview of risks associated with cryptocurrencies and specifically associated with BEU’s products, please refer to the prospectus and final terms, which are available in the “Resources” section of the Bitwise Europe website at bitwiseinvestments.eu/resources/. You should only invest if you are capable of understanding and evaluating the risks involved. If you are in doubt as to whether an investment is appropriate for you, you should consult an authorised person who specialises in advising on investments including crypto-backed ETPs.