other material
confidence high
sentiment neutral
materiality 0.40
Bitwise 10 Crypto Index Fund non-reliance on amended Note 3; valuation change <0.05% difference
Bitwise 10 Crypto Index ETF
- Sponsor concluded original Note 3 is only version in audited FY 2019/2020 financials; amended version cannot be relied upon per auditor.
- Retrospective application of single principal market valuation shows average difference <0.05% per asset; sponsor deems immaterial.
- Auditor WithumSmith+Brown to re-issue dual-dated opinion on unchanged financials with amended Note 3; later re-issue audited statements with valuation policy change.
- Expected re-issuance of audited financials for 2019 and 2020 with only substantive change being valuation method to single principal market per ASC 820.