Wed, Aug 14, 8:47 PM (153 days ago)
For the quarter ending June 30, 2024, the WisdomTree Bitcoin Fund reported significant fluctuations in its financial performance, primarily driven by changes in bitcoin prices. The fund's net assets rose to $81,776,494 from $50,000 at the end of December 2023, reflecting a substantial increase due to capital share transactions. However, the fund experienced a net decrease of $10,047,960 in net assets resulting from operations for the quarter, largely due to a net unrealized loss of $10,216,376 as bitcoin prices fell from $70,596.99 to $63,369.30. Despite this quarterly decline, the fund achieved a net increase of $8,415,937 in net assets for the six-month period, attributed to realized gains and unrealized appreciation earlier in the year. The total return for the quarter was -10.24%, contrasting with a robust 34.62% for the six-month period. The Trust's cash flow was primarily negative due to significant bitcoin purchases, necessitating future sales of bitcoin to cover operational expenses, including the Sponsor Fee. The report also highlights the ongoing market uncertainties and the fund's concentrated risk in bitcoin, indicating potential impacts on future operations.