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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CBOE GLOBAL MARKETS, INC.</counterpartyName>
              <counterpartyLei>529900RLNSGA90UPEH54</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>17.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-54057.36000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOE GLOBAL MARKETS, INC.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MARA 10 C21"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01WPZQ166"/>
        </identifiers>
        <balance>-700.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-38500.00000000</valUSD>
        <pctVal>-0.67968327818</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CBOE GLOBAL MARKETS, INC.</counterpartyName>
              <counterpartyLei>529900RLNSGA90UPEH54</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>21.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6126.08000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JSCT, LLC</name>
        <lei>5493000CIOWPGHX4AH71</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="AJL5P161Z"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-38.98000000</valUSD>
        <pctVal>-0.00068815725</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JSCT, LLC</counterpartyName>
              <counterpartyLei>5493000CIOWPGHX4AH71</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>16.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>85.47000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JSCT, LLC</name>
        <lei>5493000CIOWPGHX4AH71</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="AJL5C161Z"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>267.18000000</valUSD>
        <pctVal>0.004716825409</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JSCT, LLC</counterpartyName>
              <counterpartyLei>5493000CIOWPGHX4AH71</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>16.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>123.63000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOE GLOBAL MARKETS, INC.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MARA 10 C18.5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01WVRZPP3"/>
        </identifiers>
        <balance>-121.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5929.00000000</valUSD>
        <pctVal>-0.10467122484</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CBOE GLOBAL MARKETS, INC.</counterpartyName>
              <counterpartyLei>529900RLNSGA90UPEH54</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>18.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2955.84000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOE GLOBAL MARKETS, INC.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MARA 10 C20"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01WPZPFF6"/>
        </identifiers>
        <balance>-775.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-57350.00000000</valUSD>
        <pctVal>-1.01246327282</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CBOE GLOBAL MARKETS, INC.</counterpartyName>
              <counterpartyLei>529900RLNSGA90UPEH54</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>20.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6782.45000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAREX CAPITAL MARKETS INC.</name>
        <lei>5493006BWPDUCYG6EQ34</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="AJL5C161Z"/>
        </identifiers>
        <balance>3071.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>820509.78000000</valUSD>
        <pctVal>14.48537083254</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>MAREX CAPITAL MARKETS INC.</counterpartyName>
              <counterpartyLei>5493006BWPDUCYG6EQ34</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>16.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>413096.01000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOE GLOBAL MARKETS, INC.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>MARA HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MARA 10 C18.5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01WVRZPP3"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-49.00000000</valUSD>
        <pctVal>-0.00086505144</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CBOE GLOBAL MARKETS, INC.</counterpartyName>
              <counterpartyLei>529900RLNSGA90UPEH54</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MARA Holdings Inc</issuerName>
                <issueTitle>MARA Holdings Inc</issueTitle>
                <identifiers>
                  <cusip value="565788106"/>
                  <isin value="US5657881067"/>
                  <ticker value="MARA"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>18.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-24.55000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </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>2025-11-18</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>
  <documents>XXXX</documents>
</edgarSubmission>
