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Fair Value of Bitcoin (Tables) | 12 Months Ended
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Dec. 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Changes in Quantity of Bitcoin and Fair Value | The following represents the changes in quantity of bitcoin and the respective fair value for the year ended December 31, 2025:
|  | Quantity of bitcoin |  |  | Fair Value (amounts in thousands) |
Beginning balance as of December 31, 2024 |  |  | 40,289.1335 |  |  | $ | 3,762,723 |
Purchases |  |  | 21,837.2036 |  |  |  | 2,290,437 |
In-kind creations |  |  | 124.9948 |  |  |  | 10,884 |
Sales for the redemption of Shares |  |  | (23,701.7104 | ) |  |  | (2,351,927 | )
Bitcoin transferred for Sponsor Fee |  |  | (81.5747 | ) |  |  | (8,220 | )
Net realized gain (loss) on investment in bitcoin transferred to pay Sponsor Fee |  |  | — |  |  |  | 5,019 |
Net realized gain (loss) on investment in bitcoin sold for redemptions |  |  | — |  |  |  | (42,062 | )
Change in unrealized appreciation (depreciation) on investment in bitcoin |  |  | — |  |  |  | (299,207 | )
Ending balance as of December 31, 2025 |  |  | 38,468.0468 |  |  | $ | 3,367,647 |
The following represents the changes in quantity of bitcoin and the respective fair value for the period from January 10, 2024 (commencement of operations) to December 31, 2024:
|  | Quantity of bitcoin |  |  | Fair Value (amounts in thousands) |
Beginning balance as of January 10, 2024 (commencement of operations) |  |  | — |  |  | $ — |
Purchases |  |  | 61,192.0644 |  |  |  | 3,709,316 |
Sales for the redemption of Shares |  |  | (20,859.6407 | ) |  |  | (1,533,874 | )
Bitcoin transferred for Sponsor Fee |  |  | (43.2902 | ) |  |  | (2,987 | )
Net realized gain (loss) on investment in bitcoin transferred to pay Sponsor Fee |  |  | — |  |  |  | 1,288 |
Net realized gain (loss) on investment in bitcoin sold for redemptions |  |  | — |  |  |  | (50,869 | )
Change in unrealized appreciation (depreciation) on investment in bitcoin |  |  | — |  |  |  | 1,639,849 |
Ending balance as of December 31, 2024 |  |  | 40,289.1335 |  |  | $ | 3,762,723 |

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