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Effective Date: June 7, 2022 12:00 AM UTC

Disclosures

General

Bitwise Asset Management, Inc. and its affiliates (collectively, the “Manager”) are furnishing this website presentation (this “Website”) to sophisticated prospective investors for informational purposes only in relation to a potential opportunity to subscribe for Units (“Units”) or Shares (“Shares”) in the Bitwise 10 Crypto Index Fund, Bitwise 10 ex Bitcoin Crypto Index Fund, Bitwise 10 Crypto Index Fund (non-OTC Trust), Bitwise Blue-Chip NFT Index Fund, Bitwise DeFi Crypto Index Fund, Bitwise 10 Index Offshore Fund, Ltd., Ball Multicoin Bitwise Metaverse Index Fund, Bitwise Aave Fund, Bitwise Bitcoin Fund, Bitwise Compound Fund, Bitwise Ethereum Fund, LLC, Bitwise Polygon Fund, and Bitwise Uniswap Fund (collectively the “Funds”). This is neither an offer to sell nor a solicitation of an offer to buy Units or Shares in any Fund. Any such offer or solicitation will be made solely through definitive offering documents, identified as such, which will contain information about each fund's investment objectives and terms and conditions of an investment and may also describe risks and tax information related to an investment therein and which qualify in their entirety the information set forth on this Website. The Units and the Shares have not been registered under the Securities Act of 1933, the securities laws of any state, or the securities laws of any other jurisdiction, nor is such registration contemplated. The Interests will be offered and sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made. The offer and sale of the Interests have not been registered with or approved or disapproved by the Securities and Exchange Commission (the “SEC”) or the securities commission or regulatory authority of any state or foreign jurisdiction.

The Units or Shares have not been recommended, approved or disapproved by the U.S. Securities and Exchange Commission (the “SEC”) or by the securities regulatory authority of any state or of any other U.S. or non-U.S. jurisdiction, nor has the SEC or any such securities regulatory authority passed judgment upon the accuracy or adequacy of this Website. The Units or Shares have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), the securities laws of any state of the United States or the securities laws of any other jurisdiction, nor is such registration contemplated. The Units or Shares will be offered and sold under the exemption provided by Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made. There are substantial restrictions on the transfer of Units or Shares.

No Advice on Investment; Risk of Loss

Prior to making any investment decision in respect of the Fund, each investor must undertake its own independent examination and investigation of the Fund, including the merits and risks involved in an investment in the Interests, and must base its investment decision – including a determination whether Interests would be a suitable investment for the investor – on such examination and investigation and must not rely on the Manager or the Fund in making such investment decision. Prospective investors must not construe the contents of this Website as legal, tax, investment, or other advice. Each prospective investor is urged to consult with its own advisors with respect to legal, tax, regulatory, financial, accounting and similar consequences of investing in the Fund, the suitability of the investment for such investor and other relevant matters concerning an investment in the Fund. This Website contains an overview summary of the terms of the Fund. The summary set forth in this Website does not purport to be complete, and is qualified in its entirety by reference to the definitive offering documents relating to the Fund. Do not place undue reliance on this Website.

None of the Manager, the Fund, its affiliates, or any of their respective directors, officers, employees, agents, affiliates or advisers (collectively, the “Related Persons”) will, to the maximum extent permitted by law, be responsible or liable for this Website (or the information contained in it), and none of the Related Persons makes any warranties or representations, express or implied, as to the accuracy, suitability, fairness, completeness or otherwise of such information including where such information contains errors or misstatements. The recipient acknowledges that, to the maximum extent permitted by law, each Related Person excludes and disclaims all liability to the recipient or to any other person for any expense, cost, loss or damage of any kind including direct, indirect or consequential loss or damage incurred by any person arising from or relating to any information included or omitted from this Website, whether by reason of such information being inaccurate or incomplete or for any other reason.

Information May Change and Be Inaccurate, Incomplete or Outdated

The information on this Website is for discussion purposes only and no representations or warranties are given or implied. The information contained on this Website is subject to further discussion, completion and amendment. All of the information presented herein is subject to change without notice. This Website may be updated to provide additional information on Bitwise funds, Bitwise index products, and/or their respective methodologies. Any use of this Website is on an “as is” and “as available” basis and is at the user’s sole risk.

Certain information contained in this Website may have been obtained from sources prepared by other parties, which in certain cases may not have been updated through the date hereof. While such information is believed to be reliable for the purpose used on this Website, none of the Manager, the Fund or any of its Related Persons makes any representation or warranty (express or implied), nor shall they have any responsibility or liability in respect of any information contained on this Website or for its accuracy, adequacy, timeliness or completeness, and no representation is made or is to be implied that the information will remain unchanged. The Manager is under no obligation to update the material on this Website.

This Website does not contain all the information necessary to fully evaluate any transaction or investment, and no investor should rely on the contents of this Website. Any investment decision should be made based solely upon appropriate due diligence and, if applicable, upon receipt and careful review of any definitive offering documents, identified as such, in respect of the Fund.

No Investment in Index

It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. The Manager makes no assurance that investment in cryptocurrencies based on the index will accurately track index performance or provide positive investment returns. The Manager does not sponsor, endorse or otherwise promote any cryptocurrency, financial product, security or transaction referencing the Index. The Manager does not have any obligation to take the needs of any investor, cryptocurrency company or holder or any other person into consideration in determining, composing or calculating the Index.

Intellectual Property

The Index is the exclusive property of the Manager and the Manager retains all proprietary rights therein. Any user of this Website agrees to not, and will not assist any third party to, assert any rights in the Index or any component thereof or challenge the Manager’s rights therein.

The trademarks and service marks used on this Website (collectively, the "Marks") are trademarks (whether registered or unregistered) and/or service marks owned by the Manager or by third-party licensors. Nothing contained on this Website should be construed as granting any license or right to use any of the Marks for any purpose whatsoever without the written permission or applicable license terms of the lawful owner. Unauthorized use of the Marks or any information is strictly prohibited and may violate trademark, copyright, or other applicable laws.

Management History

The business and investment history of the management team of the Manager and other background information presented on this Website is not comprehensive. In particular, the information set forth on this website should not be interpreted as an exhaustive presentation of businesses with which the senior executives of the Fund have been involved, their professional and other accomplishments, or their business experience. Additional information is available upon request.

Performance Disclosures

Performance information is provided for informational purposes only. Past performance of the management team is not necessarily indicative of future results, and there can be no assurance that any projections, targets or estimates of future performance will be realized. Actual performance of the Fund may vary substantially from the performance provided on this Website. An investor may lose all or a substantial part of its investment in the Fund. Careful consideration should be given to any performance data provided herein. Fund returns are calculated net of expenses. Units and Shares of all Bitwise Funds are subject to an annual fee that includes the management fee, custody charges for holding the fund’s assets charged by the custodian, and customary fees and expenses of the fund administrator and auditor.

The total annual fee is 3.0% (for the Bitwise Blue-Chip NFT Fund and Ball Multicoin Bitwise Metaverse Index Fund), 2.5% (for the Bitwise 10, Bitwise 10 Offshore, Bitwise 10 (non-OTC Trust), Bitwise 10 ex Bitcoin, and DeFi Crypto Index Funds), 2.0% (for the Uniswap, Aave, Polygon, and Compound Funds), 1.5% (for the Ethereum Fund), and 0.95% (for the Bitcoin Fund). Any investment >$1M will have a fee break of 50 bps for the Offshore Fund, the Bitwise 10 Crypto Index Fund (non-OTC Trust), the Bitwise 10 ex Bitcoin Crypto Index Fund, and the Bitwise Ethereum Fund only. There is no performance fee for any product currently offered by Bitwise.

The performance of the Fund will be reduced by any and all applicable fees or expenses charged to and by the Fund, which could be more than the fees and expenses incurred with respect to investments held by the Manager. Performance returns of the Fund may be materially less than that of the Manager.

Fund Can't Track Index Exactly

The Fund will have losses, liabilities, and expenses that will offset its income and gains and therefore the Fund’s performance may be below the Index’s performance. In addition, the performance of the Fund and the Index may vary somewhat due to other factors such as the imperfect correlation between the Fund’s investments and Index composition, regulatory restrictions, high portfolio turnover rate, rounding of prices, and timing differences associated with additions to and deletions from the Index and the Fund.

Hypothetical Returns

Historical back-tested performance of the Bitwise 10 Index was calculated by retroactively applying the Index Methodology (a financial model, or set of rules for calculating Index constituents and weightings) to a historical set of data in order to arrive at hypothetical Index performance. This performance history is not the performance of any actual account, but rather the result of applying a set of mathematical rules to a set of historical data in order to arrive at the hypothetical results of how the Index would have performed if it had, in fact, been in existence during the historical period. Actual returns from live portfolios will differ materially from the back-tested, hypothetical Index returns. Hypothetical returns do not reflect the macroeconomic risks of using an investment strategy in a different time period or the financial risk of executing trades in a live portfolio which include the potential market impact on cryptocurrency prices caused by buying or selling that could cause the model’s buy or sell prices to differ from the frictionless trades of the back-tested model. As the back-tested returns simulate the historical hypothetical performance of an Index, hypothetical investment fees associated with investing in a Fund tracking this hypothetical index (including trading commissions, brokerage fees, management fees, or other fees) have not been included in (by reducing) the historical performance. Although the information on this Website provides some idea of the historic risks involved in investing in a portfolio designed to track the Bitwise 10 Index, past hypothetical performance is not a guarantee of future returns. Backward-looking performance cannot predict how any investment strategy will perform in the future. The inception date of the Bitwise 10 Index is October 1, 2017, and prior returns represent historical back-tested performance.

The historical performance of Bitcoin (i.e., prior to December 5, 2018) is not illustrative of the performance of the Bitwise Bitcoin Fund. The returns of Bitcoin are historical and unaudited and do not represent the returns of an actual account. These historical returns do not include the fees and expenses that are charged by any Fund. Actual Fund returns may differ materially from the historical returns of Bitcoin (BTC). Actual returns from live portfolios will differ materially from the historical, unaudited Bitcoin returns. Historical returns do not reflect the macroeconomic risks of using an investment strategy in a different time period or the financial risk of executing trades in a live portfolio which include the potential market impact on cryptocurrency prices caused by buying or selling that could cause price impact. The historical Bitcoin price performance does not include hypothetical investment fees associated with investing in a Fund investing in Bitcoin (including trading commissions, brokerage fees, management fees, or other fees). Those estimated fees have not been included in (by reducing) the historical performance. Although the information on this Fact Sheet provides some idea of the historic risks involved in investing in a portfolio investing in Bitcoin, past hypothetical performance is not a guarantee of future returns. Backward-looking performance cannot predict how any investment strategy will perform in the future.

The historical performance of Ethereum (i.e., prior to December 5, 2018) is not illustrative of the performance of the Bitwise Ethereum Fund. The returns of Ethereum are historical and unaudited and do not represent the returns of an actual account. These historical returns do not include the fees and expenses that are charged by any Fund. Actual Fund returns may differ materially from the historical returns of Ethereum. Actual returns from live portfolios will differ materially from the historical, unaudited Ethereum returns. Historical returns do not reflect the macroeconomic risks of using an investment strategy in a different time period or the financial risk of executing trades in a live portfolio which include the potential market impact on cryptocurrency prices caused by buying or selling that could cause price impact. The historical Ethereum price performance does not include hypothetical investment fees associated with investing in a Fund investing in Ethereum (including trading commissions, brokerage fees, management fees, or other fees). Those estimated fees have not been included in (by reducing) the historical performance. Although the information on this Fact Sheet provides some idea of the historic risks involved in investing in a portfolio investing in Ethereum, past hypothetical performance is not a guarantee of future returns. Backward-looking performance cannot predict how any investment strategy will perform in the future.

Projections or Forecasts

This Website includes forward-looking statements that represent the Manager’s opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. These statements may be identified by the use of words like “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “will,” “should,” “seek,” and similar expressions. The forward-looking statements reflect the Manager’s views and assumptions with respect to future events and are subject to risks and uncertainties. Actual and future results and trends could differ materially from those described by such statements due to various factors, including those beyond our ability to control or predict. Given these uncertainties, undue reliance should not be placed on the forward-looking statements. The Manager does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The Manager does not guarantee the offering and events described on the Website will happen as described (or that they will happen at all).

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Carefully consider the risk factors, investment objectives, fees, expenses, and other information associated with each of the following: Bitwise 10 Crypto Index Fund, Bitwise 10 ex Bitcoin Crypto Index Fund, Bitwise 10 Crypto Index Fund (non-OTC Trust), Bitwise Blue-Chip NFT Index Fund, Bitwise DeFi Crypto Index Fund, Bitwise 10 Index Offshore Fund, Ltd., Ball Multicoin Bitwise Metaverse Index Fund, Digital Asset Index Fund, LLC, Bitwise Aave Fund, Bitwise Bitcoin Fund, Bitwise Compound Fund, Bitwise Ethereum Fund, LLC, Bitwise Polygon Fund, and Bitwise Uniswap Fund (each, a "Fund" and collectively the “Funds”), the units or shares of said Funds (the “Shares”), or the Bitwise BTC/ETH Equal Weight SMA, and the Bitwise Large Cap Crypto SMA (the “Strategies,” and collectively with the Funds and the Shares, the “Products”) before making an investment decision regarding any of the Products. Such risk factors, investment objectives, fees, expenses and other important information can be found in each Fund’s Private Placement Memorandum, which can be obtained from Bitwise Asset Management, Inc. and its affiliates (collectively “Bitwise”), and the Strategy's Pamphlet, which can be obtained through a participating registered investment adviser. For the Bitwise 10 Crypto Index Fund (OTCQX: BITW) (the "BITW Fund"), the shares of which are registered with the Securities and Exchange Commission pursuant to Section12(g) of the Securities and Exchange Act of 1934, as amended, and are quoted on the OTCQX, the public filings and disclosures can be located on the website of the Securities and Exchange Commission at www.sec.gov. Such documents may not contain all of the information necessary for a prospective investor to make a fully informed investment decision, and all investors are encouraged to read all available documents prior to making an investment decision.

Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Crypto Industry Innovators ETF (BITQ) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting https://www.bitqetf.com/materials. Investors should read it carefully before investing. Exchange Traded Concepts, LLC serves as the investment advisor of the fund. The Fund is distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Exchange Traded Concepts, LLC, Bitwise, or any of its affiliates.

Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting https://www.bitcetf.com/materials. Investors should read it carefully before investing. Investing in securities involves risk and there is no guarantee of principal. The Bitwise Bitcoin Strategy Optimum Roll ETF is distributed by Foreside Fund Services, LLC, which is not affiliated with Bitwise or any of its affiliates.

Carefully consider the investment objectives, risk factors, charges, and expenses of the Bitwise Web3 ETF (BWEB) before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting https://www.bwebetf.com/materials. Investors should read it carefully before investing. Investing in securities involves risk and there is no guarantee of principal. The Bitwise Web3 ETF is distributed by Foreside Fund Services, LLC, which is not affiliated with Bitwise or any of its affiliates.

All Products are speculative investments that involve a high degree of risk and uncertainty. Certain Products may be limited to investment by accredited investors who can afford loss of the entire investment. There is no guarantee that any Product will meet its investment objective.

For the BITW Fund, which has Shares available for trading on the OTCQX Best Market, there can be no assurance that the value of the Shares, if traded on this secondary market, will reflect the value of the BITW Fund's net assets. Shares of any fund traded on such secondary market may trade at a substantial premium over, or a substantial discount to, the value of the fund's net assets, because, among other factors, such funds do not currently operate a redemption program, and because, among other factors, such funds’ Shares when initially issued are subject to the holding period under Rule 144 of the Securities Act. As a result of these factors, there is no arbitrage mechanism to keep the price of the Shares closely linked to the value of the fund's net assets, and therefore the performance of the fund's Shares may deviate significantly from the performance of the fund's Net Asset Value per share (“NAV”). There is no guarantee that any Fund will meet its investment objective.

Certain of the Bitwise Products may be subject to the risks associated with investing in crypto assets, including cryptocurrencies and crypto tokens. Because crypto assets are a new technological innovation with a limited history, they are a highly speculative asset. Future regulatory actions or policies may limit the ability to sell, exchange or use a crypto asset. The price of a crypto asset may be impacted by the transactions of a small number of holders of such crypto asset. Crypto assets may decline in popularity, acceptance or use, which may impact their price. Non-Fungible Tokens ("NFTs") are an extremely new artistic and cultural phenomenon, and interest in such artwork could wane. If the demand for NFT artwork diminishes, the prices of NFT items could be negatively affected. The market for NFTs can be subject to shallow trade volume, extreme hoarding, low liquidity and high bankruptcy risk. NFTs are also subject to risks and challenges associated with intellectual property rights and fraud.

The Metaverse is a new phenomenon, and interest in, and development of, the Metaverse could wane. If the demand for the Metaverse diminishes, the prices of Metaverse-related crypto assets could be negatively affected. Temporary popularity of some Metaverse crypto assets may result in short-term value increases that prove unsustainable as tastes shift. In general, Metaverse protocols do not operate on a native blockchain, but rather are built and operated on other public blockchain networks. As a result, a Metaverse protocol does not control the blockchain network on which it operates. Any adverse impacts or changes on the underlying blockchain network could have a negative effect on the operation of the Metaverse protocol and, as a result, could impact the price of the Metaverse protocol’s crypto asset. Such adverse impacts can include, but are not limited to, technical bugs, hacks, 51% attacks or network congestion due to, among other issues, high fees. See the Ball Multicoin Bitwise Metaverse Index Fund's offering documents for full list of risks. Bitwise Investment Advisers, LLC, serves as the sponsor of the Fund and is not affiliated with Matthew Ball, Epyllion, or Multicoin Capital.

Prior to making any investment decision in respect of any Product, each investor must undertake its own independent examination and investigation of the Product, including the merits and risks involved in an investment in the Product, and must base its investment decision, including a determination of whether the Product would be a suitable investment for the investor, on such examination and investigation and must not rely on Bitwise or the Products in making such investment decision. Prospective investors must not construe the contents of this website as legal, tax, investment, or other advice. Each prospective investor is urged to consult with its own advisors with respect to legal, tax, regulatory, financial, accounting and similar consequences of investing in any Product, the suitability of the investment for such investor and other relevant matters concerning an investment in any Product.

This website contains an overview summary of the terms of each Product. This website is neither an offer to sell nor a solicitation to buy units or shares in any Product. Any such offer or solicitation will be made solely through definitive offering documents, identified as such, which will contain information about each Product's investment objectives and terms and conditions of an investment and may also describe risks and tax information related to an investment therein, and which will qualify in their entirety the information set forth on this website. The summary set forth on this website does not purport to be complete, and is qualified in its entirety by reference to the definitive offering documents relating to each Product. Do not place undue reliance on this website.

The Shares of any Fund have not been approved or disapproved by the Securities and Exchange Commission, are not registered under the Securities Act of 1933 (the “Securities Act”), the Investment Company Act of 1940 (the “Investment Company Act”), or any state securities commission or other regulatory body. Bitwise is not registered as an Investment Adviser under the Investment Advisers Act of 1940 (the “Advisers Act”), and is not registered as a Commodity Pool Operator or Commodity Trading Adviser under the Commodity Exchange Act (the “Commodity Exchange Act”).

Shares of any Fund that are available in private placements are offered pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made, and are only issued and sold directly by the Fund to accredited investors. As a result, the Shares of each such Fund when initially sold are restricted and subject to significant limitations on transfer and resale.

Prospective investors in any Fund should very carefully consider such risks prior to making any investment decision, including the fact that certain Funds may not offer a redemption program if the shares of the Fund are traded on a secondary market. The Shares of Funds that are publicly quoted on the OTCQX Best Market are Shares that have become “unrestricted” under Rule 144 of the Securities Act (although Shares held by affiliates and insiders will be subject to additional restrictions on resales, including restrictions on the number of Shares that may be resold within any three-month period). Shares that have become unrestricted after the statutory holding period may be quoted on the OTCQX Best Market and may be purchased and sold throughout the trading day through any brokerage account with access to such markets.