Bitwise
US crypto asset manager · ETP assets backing shares · @BitwiseInvest
This $3.92B stack is Bitwise's product backing — the assets held against its exchange-traded products and trusts, not a trading book. Read it as fund AUM across four chains: units get created against these coins, so the balance moves with creations and redemptions, not with a manager's conviction. BTC is ~79% of it; SOL, ETH, plus small HYPE and LINK sleeves make up the rest.
The desk's read
The $3.92B breaks down as BTC ~$3.08B, SOL ~$578M, ETH ~$196M, HYPE ~$37M and LINK ~$24M, spread across bitcoin, solana, ethereum and hyperevm. These are custody assets sitting behind Bitwise's wrapped products, not a directional bet the firm is running with its own capital. The coins are here because shares and units were issued against them, so the right frame is product AUM: the address grows when allocators put money in and shrinks when they pull it out.
That makes this a flow gauge, not a sentiment read. Net growth in the balance is creations — fresh institutional money entering the regulated wrapper — and net shrinkage is redemptions. BTC dominance at roughly four-fifths tells you where the demand still concentrates, but the second leg matters: SOL near $578M is a real, standalone allocation, not a rounding error, and it signals that flows into Bitwise's lineup have broadened past the two majors.
The tell is the tail. Standalone HYPE ($37M on hyperevm) and LINK ($24M) sleeves put Bitwise further out the risk curve than the pure spot-BTC issuers — it runs single-asset and thematic products, not just a Bitcoin fund. For a trader watching these addresses, moves in the smaller sleeves carry the higher signal: creations there mean allocators are paying up for altcoin beta through a compliant vehicle, and that is the earlier, cleaner read on institutional risk appetite than another BTC inflow.
What they hold
Largest token positions on-chain data maps to this entity, by USD value.
| Asset? | Chain? | Value? |
|---|---|---|
| BTC | bitcoin | $3.11B |
| SOL | solana | $594.3M |
| ETH | ethereum | $199.7M |
| HYPE | hyperevm | $38.1M |
| LINK | ethereum | $24.3M |
| UNI | ethereum | $426K |
| ONDO | ethereum | $326K |
| SKY | ethereum | $262K |
How to read a row → BTC · bitcoin · $3.11B: this entity's largest position is $3.11B of BTC held on bitcoin. Rows are sorted by USD value, so the top row is the biggest bet.
By chain
| Network? | Value? |
|---|---|
| bitcoin | $3.11B |
| solana | $594.3M |
| ethereum | $225.5M |
| hyperevm | $38.1M |
How to read a row → bitcoin · $3.11B: $3.11B of the holdings live on bitcoin. Chains are ranked by value, so the top row is where most of the money sits.
Source: aggregated on-chain entity data, cross-checked against Etherscan. Balances are USD-denominated and move with price. Updated 20 Jul 2026.
Not investment advice. Entity labels are on-chain attribution and can be imperfect; a labelled balance may mix personal, treasury and custody wallets. Large balances do not imply intent — some never move.