Bitwise Funds Trust
IMST
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Cryptocurrency
- Address
- 250 Montgomery Street, Suite 200 San Francisco CA United States of America 94104
- IPO Date
- Apr 3, 2025
- Website
- imstetf.com
- Similar Companies
- Business
- Bitwise Funds Trust (IMST) is an open-ended exchange-traded fund that employs an actively managed synthetic covered call strategy to generate current monthly income while providing exposure to the price returns of MicroStrategy Incorporated (MSTR) common stock, subject to a cap on potential gains. The fund, domiciled in the United States with administrative operations in Wilmington, Delaware, and managed by Bitwise Investment Manager, LLC from its headquarters in San Francisco, California, was formed on April 1, 2025. Its strategy utilizes a combination of standardized exchange-traded options and FLEX options on MSTR, including synthetic long exposure achieved through the purchase of call options and sale of put options at the same strike price, covered call writing by selling out-of-the-money call options approximately 0%-15% above MSTR's current share price to generate option premiums, and collateral held in U.S. Treasurys and cash equivalents; the fund does not hold MSTR stock directly or entitle investors to MSTR dividends. It distributes income monthly, with recent distributions announced in November 2025 comprising ordinary dividends, capital gains, and return of capital, and maintains an expense ratio of 0.98%, assets under management of approximately $63.52 million, and 1.36 million shares outstanding as of late 2025. Bitwise Funds Trust operates within the information technology sector, specifically focusing on software and services through its targeted exposure to MSTR, a company known for its significant bitcoin treasury holdings, serving institutional and retail investors seeking income and capped equity participation in U.S. markets. The fund trades on NYSE Arca under the ticker IMST, with Foreside Fund Services, LLC as distributor and Bank of New York Mellon as custodian. In recent developments, Bitwise Investment Manager, LLC—the adviser for IMST and part of the broader Bitwise Asset Management platform—launched a suite of Option Income Strategy ETFs including IMST in mid-2025, announced monthly distributions for IMST and related funds through November 2025, crossed $5 billion in overall assets under management in early 2025 following the acquisition of London-based ETC Group and launches of spot Bitcoin and Ethereum ETPs, secured $70 million in new backing from financial institutions in February 2025, and surpassed $15 billion in client assets by August 2025. These expansions reflect Bitwise's strategic growth in crypto-related equity strategies amid surging investor interest in digital assets.