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        <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>Xtrackers ETC PLC</name>
        <lei>549300FXP9JMVJDIO346</lei>
        <title>Xtrackers ETC PLC PHYSICAL GOLD ETC USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A2T0VU5"/>
          <ticker value="XGDU"/>
          <other otherDesc="SEDOL" value="BLQ0NB2"/>
        </identifiers>
        <balance>51330.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3647253.15000000</valUSD>
        <pctVal>3.796001705856</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>20947.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1886905.76000000</valUSD>
        <pctVal>1.963860798571</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>Ishares Physical Metals PLC</name>
        <lei>549300T2ISPWHQ8IPF83</lei>
        <title>Ishares Physical Metals PLC I SHARES PHYSICAL SILVER ETC USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4NCWG09"/>
          <ticker value="ISLN"/>
          <other otherDesc="SEDOL" value="B4NCWG0"/>
        </identifiers>
        <balance>58567.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4113013.99000000</valUSD>
        <pctVal>4.280758006131</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>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>187389.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1249181.92000000</valUSD>
        <pctVal>1.300128207235</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 Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>iShares Trust 3YRTB ETF</title>
        <cusip>464288125</cusip>
        <identifiers>
          <isin value="US4642881258"/>
          <ticker value="ISHG"/>
        </identifiers>
        <balance>63038.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4676423.60000000</valUSD>
        <pctVal>4.867145556624</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>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>122523.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9676866.54000000</valUSD>
        <pctVal>10.07152516769</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>97511.90000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97511.90000000</valUSD>
        <pctVal>0.101488798149</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>Ishares Physical Metals PLC</name>
        <lei>549300T2ISPWHQ8IPF83</lei>
        <title>Ishares Physical Metals PLC PHYSICAL PLATINUM ETC GBP ACC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4LHWP62"/>
          <ticker value="IPLT"/>
          <other otherDesc="SEDOL" value="B4LHWP6"/>
        </identifiers>
        <balance>153186.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4226018.78000000</valUSD>
        <pctVal>4.398371551988</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>WisdomTree Metal Securities Limited</name>
        <lei>213800QFA5KMBW5CVX71</lei>
        <title>WisdomTree Metal Securities Limited PHYSICAL PLATINUM</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00B1VS2W53"/>
          <ticker value="PHPT"/>
          <other otherDesc="SEDOL" value="B1VS2W5"/>
        </identifiers>
        <balance>23911.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4208814.22000000</valUSD>
        <pctVal>4.380465326008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>JE</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 AG USD (Unsec)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1199067674"/>
          <ticker value="CBTC"/>
          <other otherDesc="SEDOL" value="BMWPSZ7"/>
        </identifiers>
        <balance>138848.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2216847.17000000</valUSD>
        <pctVal>2.307258447070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</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>iShares Bitcoin ETP</name>
        <lei>N/A</lei>
        <title>iShares Bitcoin ETP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2940466316"/>
          <ticker value="IB1T"/>
          <other otherDesc="SEDOL" value="BNM8PJ6"/>
        </identifiers>
        <balance>224286.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1498679.05000000</valUSD>
        <pctVal>1.559800758642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <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>45949.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4115077.57000000</valUSD>
        <pctVal>4.282905746602</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>Amundi Physical Metals Plc</name>
        <lei>635400OKXTE2YQC92T76</lei>
        <title>Amundi Physical Metals Plc 0% PERP NTS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0013416716"/>
          <ticker value="GLDD"/>
          <other otherDesc="SEDOL" value="BM9TQ70"/>
        </identifiers>
        <balance>75158.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13734278.97000000</valUSD>
        <pctVal>14.29441397530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</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>VanEck ETF Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VanEck ETF Trust VANECK JUNIOR GOLD MINERS ETF</title>
        <cusip>92189F791</cusip>
        <identifiers>
          <isin value="US92189F7915"/>
          <ticker value="GDXJ"/>
        </identifiers>
        <balance>39756.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4772310.24000000</valUSD>
        <pctVal>4.966942810623</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>WISDOMTREE METAL SECURITIES LTD</name>
        <lei>213800QFA5KMBW5CVX71</lei>
        <title>WisdomTree Metal Securities Limited PHYSICAL GOLD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00B1VS3770"/>
          <ticker value="PHAU"/>
          <other otherDesc="SEDOL" value="B1VS377"/>
        </identifiers>
        <balance>23678.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10154073.52000000</valUSD>
        <pctVal>10.56819442415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>JE</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>114247.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10469595.08000000</valUSD>
        <pctVal>10.89658412751</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees. The fund's inception date is 01/21/2026. The performance return presented is for a partial month." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-21</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>
  <documents>XXXX</documents>
</edgarSubmission>
