PANews reported on May 1 that, according to PRNewswire, crypto asset management company Bitwise announced it will close and liquidate two of its crypto ETFs: Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) and Bitwise Web3 ETF (BWEB). The specific reasons for the closure have not yet been disclosed.

Bitwise reminds investors that their holdings will be automatically redeemed in cash based on the net asset value (NAV) of their respective ETFs after May 21, 2026. The funds are expected to be distributed through brokers or other financial intermediaries around May 29, 2026.