Alternative
Bitwise 10 Crypto Index Fund Alternative: Build Your Own Custom Crypto Index
BITW is a legitimate and convenient product. It was the first and largest crypto index fund, it trades as a single ticker on NYSE Arca, and it holds the coins for you so you never touch a wallet or an exchange. For a hands-off investor who wants broad crypto exposure in one line item, that convenience is the whole point, and the 0.75% expense ratio buys it. The limitation is customization. BITW weights its basket by market cap, which in crypto means Bitcoin carries the largest share, so the fund often behaves a lot like holding BTC with a tail of altcoin exposure. You cannot drop a coin, add one that is not in the index, cap the largest holding, or switch to equal weight. Indexes solves a different problem. It is analyze-only, educational and informational, not a place to trade or custody assets. You use it to design the crypto index you actually want, test how it would have behaved against real history, and compare it to Bitcoin as a benchmark before you commit real money anywhere. Many people use both: the design and backtest happen here, and the funding, if any, happens at a brokerage or exchange afterward. Crypto is highly volatile and nothing here is investment advice.
Last updated July 2026
In short
The Bitwise 10 Crypto Index Fund (BITW) is a single exchange-traded product that holds a market-cap-weighted basket of roughly the ten largest crypto assets for a 0.75% annual expense ratio, with Bitcoin as the dominant weight. It converted to an exchange-traded product on NYSE Arca in December 2025. The tradeoff is that you take the basket exactly as built: you cannot pick the coins, cap Bitcoin, or equal-weight the holdings. Indexes is a different kind of tool. It is not a fund or a brokerage and never holds coins or places a trade. It lets you design your own weighted crypto index, choose the coins and the weighting, backtest it against real market history, and track it against BTC, for a flat software fee with no expense ratio.
Side by side
Indexes vs Bitwise (BITW)
| Capability | Indexes | Bitwise (BITW) |
|---|---|---|
| Design a custom weighted index yourself | Fixed basket of about 10 assets | |
| Choose the coins and the weighting | ||
| Cap or equal-weight so Bitcoin cannot dominate | ||
| Backtest against real market history | ||
| Stocks and crypto in one index | Crypto only | |
| Holds the assets and trades as one ticker | ||
| Annual cost | Flat software fee from $12/mo | 0.75% expense ratio |
| Analyze-only, never places trades |
Comparison reflects general product positioning and is provided in good faith. Verify current capabilities with each vendor.
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Build, backtest, and track, self-serve
Educational only · Never places a trade
Questions
Bitwise and building your own crypto index, answered, answered
What is the Bitwise 10 Crypto Index Fund?
The Bitwise 10 Crypto Index Fund (ticker BITW) is an exchange-traded product that holds a market-cap-weighted basket of roughly the ten largest crypto assets, so a single purchase gives diversified crypto exposure. It converted to an exchange-traded product on NYSE Arca in December 2025 and charges a 0.75% annual expense ratio. Bitcoin is its largest holding.
How much does BITW cost?
BITW carries a 0.75% annual expense ratio as of July 2026, charged on the whole balance every year. There is no separate minimum beyond the price of one share since it trades on an exchange. Building and tracking your own crypto index avoids the expense ratio, though you handle the rebalancing yourself. Confirm the current fee on the fund page before buying.
Can I customize the coins or weighting in BITW?
No. BITW holds a fixed, rules-based basket weighted by market cap, so you take it exactly as built. You cannot remove a coin, add one that is not included, cap Bitcoin so it stops dominating, or switch to equal weight. If you want that control, you need to build your own index, which is what Indexes is for.
What is a good Bitwise alternative?
If you want a hands-off fund, the closest alternative is Grayscale's CoinDesk Crypto 5 (GDLC) at a 0.59% expense ratio, though it is more concentrated in Bitcoin. If you want to choose the coins and the weighting yourself and test the basket before committing, Indexes lets you design, backtest and track a custom crypto index without holding any assets.
Is Indexes a crypto fund like Bitwise?
No. Indexes is not a fund or a brokerage. It never custodies coins, connects to a wallet, or places a trade. It is a design-and-analysis tool: you build a weighted crypto index, backtest it against real market history, and track it against BTC. Any actual buying happens elsewhere, after you have decided what you want.
New to the strategy? Start with our guide to direct indexing, what it costs and who it suits, or see how much direct indexing costs across providers.
Build your index and see how it backtests
Bundle stocks or crypto into your own weighted index, backtest it against real market history, and track it against the S&P 500 or BTC. Prosumer pricing, no brokerage account. Indexes is educational and informational only, and it never places a trade. Decide for yourself.