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Financial Highlights
 12 Months Ended
Dec. 31, 2025
Investment Company, Financial Highlights [Abstract]  
Financial Highlights

7. Financial Highlights

Per-Share Performance (for a Share outstanding throughout the periods presented)

 

 

 

For the year ended December 31, 2025

 

 

For the period
January 10, 2024 (commencement of operations) through December 31, 2024

 

 

Principal Market NAV per-share, beginning of period

 

$

50.85

 

 

$

25.00

 

 

Net investment loss 1

 

 

(0.11

)

 

 

(0.06

)

 

Net realized and change in unrealized on investment in bitcoin

 

 

(3.17

)

 

 

25.91

 

 

Net change in net assets from operations

 

 

(3.28

)

 

 

25.85

 

 

Principal Market NAV per-share, end of period

 

$

47.57

 

 

$

50.85

 

 

 

 

 

 

 

 

 

 

Total return, at net asset value 2

 

 

(6.45

)

%

 

103.40

 

%

 

 

 

 

 

 

 

 

Ratios to average net assets

 

 

 

 

 

 

 

Net investment loss

 

 

(0.20

)

%

 

(0.16

)

%3,4

Gross expenses

 

 

0.20

 

%

 

0.20

 

%3,4

Net expenses

 

 

0.20

 

%

 

0.16

 

%3,4

 

1.
Calculated using average Shares outstanding.
2.
Total return is calculated based on the change in Principal Market NAV during the reporting period. An individual shareholder’s total return and ratios may vary from the above total return and ratios based on the timing of share transactions from the Trust.
3.
Annualized.
4.
For the six-month period starting on January 11, 2024, the day the Trust began accruing expenses, the Sponsor waived the entire Sponsor Fee on the first $1 billion of Trust assets through July 10, 2024.