Bitwise Bitcoin Beneficial Interest 

The trust aims to achieve its investment goal by maintaining direct holdings in bitcoin. A "Sponsor Fee," representing the sponsor's management charge, will be assessed and collected in U.S. dollars. Each day, the trust's bitcoin assets, its overall net assets, and its shares will be valued, with these determinations based on the BRRNY benchmark. This fund operates under a passive management approach, explicitly refraining from active investment strategies, and the Sponsor will not actively trade or manage the bitcoin held within the trust.