# Bitwise Core Bitcoin ETP (BTC3)

**Page:** https://fundology.uk/fund/btc3 · ISIN DE000A4AER62

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, BTC3 (Bitwise Core Bitcoin ETP, ISIN DE000A4AER62) closed at £5.17 on the London Stock Exchange. Its ongoing charge is 0.05% a year (about £5 on £10,000). Over the year to 13/11/2026 its total return was −29.7%, or −32.2% after UK CPIH inflation.

## Summary

Bitwise Core Bitcoin ETP is an exchange-traded product from Bitwise, launched in 2024. It tracks the CME CF Bitcoin Reference Rate - USD - Benchmark Price Return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.05% a year — about £5 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

> **Crypto:** Cryptoassets are high-risk and largely unregulated in the UK. Prices can rise and fall very sharply, and you could lose all the money you put in.

Latest close: **£5.17** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | BTC3 |
| ISIN | DE000A4AER62 |
| Also listed as | BTC1 (London Stock Exchange, US dollars), BTC2 (Xetra, US dollars) |
| Category | Crypto |
| Type | ETN / ETP |
| Provider | Bitwise |
| Tracks | CME CF Bitcoin Reference Rate - USD - Benchmark Price Return |
| Income | Accumulating |
| Ongoing charge | 0.05% a year (£5 per £10,000) |
| Fund size | £137m |
| Launched | 2024 |
| Domicile | Germany |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2024 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -29.68% | -32.17% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Bitwise Core Bitcoin ETP in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −22.3%. Returns of Bitwise Core Bitcoin ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −29.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2026 to 13/11/2026 | -22.3% | -24.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 44.39% | -41.07% |

## Largest fall

Volatility of Bitwise Core Bitcoin ETP in pounds, annualised from weekly returns to 13/11/2026: 44.4% over 1 year. Largest fall in the price of Bitwise Core Bitcoin ETP since April 2025, in pounds: −49.6% from 03/10/2025 to 05/06/2026. On 13/11/2026 the price of Bitwise Core Bitcoin ETP was 42.4% below its highest weekly close since April 2025 (03/10/2025), in pounds.

## Charges compared with similar funds

Ongoing charge of Bitwise Core Bitcoin ETP 0.05% a year. Compared on 14/11/2026, 19 of the 19 other crypto products charge more, 0 the same and 0 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.05%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: no (crypto ETN). Since 06/04/2026 crypto ETNs cannot be added to a stocks and shares ISA (or a Junior ISA). HMRC rules allow them in an Innovative Finance ISA, where a provider offers one, and in a SIPP. Crypto ETNs bought into a stocks and shares ISA before that date may stay there.
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of BTC3?**

The ongoing charge of BTC3 is 0.05% a year — about £5 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Bitwise Core Bitcoin ETP 0.05% a year. Compared on 14/11/2026, 19 of the 19 other crypto products charge more, 0 the same and 0 less (share classes counted once).

**What does BTC3 track?**

BTC3 tracks the CME CF Bitcoin Reference Rate - USD - Benchmark Price Return.

**Is BTC3 accumulating or distributing?**

BTC3 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of BTC3?**

The ISIN of BTC3 is DE000A4AER62. An ISIN identifies one exact share class of a fund; BTC3 is its ticker on the London Stock Exchange. The same share class is also listed as BTC1 (London Stock Exchange, US dollars) and BTC2 (Xetra, US dollars).

**What were BTC3’s returns in each of the last five years?**

Calendar-year returns of BTC3 in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 −22.3%. Past performance is not a guide to future returns.

**How has BTC3 done after inflation?**

Over the year to 13/11/2026 BTC3’s total return was −29.7%, or −32.2% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.