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        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WISDOMTREE METAL SECURITIES LTD</name>
        <lei>213800QFA5KMBW5CVX71</lei>
        <title>WISDOMTREE METAL SECURITIES LTD PHYSICAL SILVER</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00B1VS3333"/>
          <ticker value="PHAG"/>
          <other otherDesc="SEDOL" value="B1VS333"/>
        </identifiers>
        <balance>106144.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5769987.84000000</valUSD>
        <pctVal>6.057059387035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMUNDI PHYSICAL METALS PLC</name>
        <lei>635400OKXTE2YQC92T76</lei>
        <title>AMUNDI PHYSICAL METALS PLC 0% NTS PERP USD100000</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013416716"/>
          <ticker value="GLDD"/>
          <other otherDesc="SEDOL" value="BM9TQ70"/>
        </identifiers>
        <balance>113247.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18076203.02000000</valUSD>
        <pctVal>18.97554002197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL X FUNDS</name>
        <lei>5493003RA4QUTSYF1N15</lei>
        <title>GLOBAL X FUNDS GLOBAL X SILVER</title>
        <cusip>37954Y848</cusip>
        <identifiers>
          <isin value="US37954Y8488"/>
          <ticker value="SIL"/>
        </identifiers>
        <balance>48903.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3788026.38000000</valUSD>
        <pctVal>3.976490311514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>21SHARES AG</name>
        <lei>254900UWHMJRRODS3Z64</lei>
        <title>21SHARES BITCOIN CORE ETP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1199067674"/>
          <ticker value="CBTC"/>
          <other otherDesc="SEDOL" value="BMWPSZ7"/>
        </identifiers>
        <balance>138491.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1924747.92000000</valUSD>
        <pctVal>2.020509016620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2500-12-31</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bitwise Core Bitcoin ETP</name>
        <lei>N/A</lei>
        <title>Bitwise Core Bitcoin ETP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A4AER62"/>
          <ticker value="BTC1"/>
          <other otherDesc="SEDOL" value="BS6ZTV8"/>
        </identifiers>
        <balance>140440.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>815429.75000000</valUSD>
        <pctVal>0.855999450720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES INC</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>ISHARES INC MSCI GBL GOLD MN</title>
        <cusip>46434G855</cusip>
        <identifiers>
          <isin value="US46434G8556"/>
          <ticker value="RING"/>
        </identifiers>
        <balance>79426.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5130919.60000000</valUSD>
        <pctVal>5.386195879280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS Government Money Market Series</name>
        <lei>549300CN99USSS74NL68</lei>
        <title>DWS Government Money Market Series</title>
        <cusip>25160K207</cusip>
        <identifiers>
          <isin value="US25160K2078"/>
          <ticker value="ICAXX"/>
        </identifiers>
        <balance>130309.75000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>130309.75000000</valUSD>
        <pctVal>0.136792990964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COINSHARES DIGITAL SECURITIES LTD</name>
        <lei>549300DR7967WVLR3P83</lei>
        <title>COINSHARES DIGITAL SECURITIES LTD 0% ETC PERP BITCOIN USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BLD4ZL17"/>
          <ticker value="BITC"/>
          <other otherDesc="SEDOL" value="BLD4ZL1"/>
        </identifiers>
        <balance>32635.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1836697.80000000</valUSD>
        <pctVal>1.928078179561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES PHYSICAL METALS PLC</name>
        <lei>549300T2ISPWHQ8IPF83</lei>
        <title>ISHARES PHYSICAL METALS PLC I SHARES PHYSICAL GOLD ETC USD ACC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4ND3602"/>
          <ticker value="IGLN"/>
          <other otherDesc="SEDOL" value="B4ND360"/>
        </identifiers>
        <balance>59141.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4623939.09000000</valUSD>
        <pctVal>4.853991801508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET INSTL US GOVT MMKT</name>
        <lei>N/A</lei>
        <title>STATE STREET INSTL US GOVT MMKT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="OPGXX"/>
          <other otherDesc="INTERNAL" value="BYM6XMB76"/>
        </identifiers>
        <balance>645150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>645150.00000000</valUSD>
        <pctVal>0.677247850759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="645150.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMPLIFY ETF TRUST</name>
        <lei>5493006EMX6222CPWJ71</lei>
        <title>AMPLIFY ETF TRUST AMPLIFY JUNIOR SILVER MINERS ETF</title>
        <cusip>032108649</cusip>
        <identifiers>
          <isin value="US0321086490"/>
          <ticker value="SILJ"/>
        </identifiers>
        <balance>147223.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3816020.16000000</valUSD>
        <pctVal>4.005876853155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR SERIES TRUST</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR SERIES TRUST STATE STREET SPDR BLOOMBERG 1-3 MONTH TBILL ETF</title>
        <cusip>78468R663</cusip>
        <identifiers>
          <isin value="US78468R6633"/>
          <ticker value="BIL"/>
        </identifiers>
        <balance>247238.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22656890.32000000</valUSD>
        <pctVal>23.78412814710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="13929280.00000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Bitwise Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>James H Bebrin III</ncom:signature>
      <ncom:signerName>James H Bebrin III</ncom:signerName>
      <ncom:title>Assistant Treasurer of Bitwise Funds Trust</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
