BTCE.ETRvsMARA
Bitwise Physical Bitcoin ETP (BTCE) vs Marathon Digital
Side-by-side Bitcoin treasury comparison: holdings, market cap, mNAV ratio, BTC per share, cost basis, and recent purchases. Numbers refresh every 5 minutes from SEC filings and live market data.
BTCE.ETR
Bitwise Physical Bitcoin ETP (BTCE)
🇩🇪 DE
11,022 BTC
$704.8M market value
MARA
Marathon Digital
🇺🇸 US
35,303 BTC
$2.3B market value
Metric
BTCE.ETR
MARA
BTC holdings
11,022 BTC
35,303 BTC
Market value of BTC
$704.8M
$2.3B
Average cost per BTC
—
$68,236.16
Total cost basis
—
$2.4B
mNAV (market cap ÷ BTC value)
—
2.05×
Sats per share
—
- May 14, 2026+0 BTC—
- May 11, 2026+-3,386 BTC$278.1M
- May 11, 2026+0 BTC$1.5B
- Mar 26, 2026+0 BTC$1.1B
- Mar 26, 2026+-15,133 BTC$1.1B
BTCE.ETR vs MARA: frequently asked
Which company holds more Bitcoin, BTCE.ETR or MARA?▾
Marathon Digital (MARA) holds 35,303 BTC, compared to Bitwise Physical Bitcoin ETP (BTCE)'s (BTCE.ETR) 11,022 BTC — roughly 3.2× more.
What's the total Bitcoin value on the balance sheets of BTCE.ETR and MARA?▾
BTCE.ETR holds $704.8M worth of Bitcoin at current market prices. MARA holds $2.3B.
Who has a lower cost basis per BTC, BTCE.ETR or MARA?▾
Cost basis disclosure is inconsistent across these two entities; check each company's detail page for per-purchase history.
When did BTCE.ETR last buy Bitcoin?▾
BTCE.ETR disclosed a 0 BTC purchase on May 14, 2026.
When did MARA last buy Bitcoin?▾
MARA disclosed a -3,386 BTC purchase on May 11, 2026.