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Investment Valuation and Calculation of Net Asset Value (“NAV”) (Tables) | 12 Months Ended
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Dec. 31, 2025
Fair Value Disclosures [Abstract] |
The following table presents information about the Trust’s investments at fair value: | The following table presents information about the Trust’s investments at fair value:
December 31, 2025 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Bitcoin |  | $ | 505,489,906 |  |  | $ | — |  |  | $ | — |  |  | $ | 505,489,906 |
Total Investments |  | $ | 505,489,906 |  |  | $ | — |  |  | $ | — |  |  | $ | 505,489,906 |
December 31, 2024 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Bitcoin |  | $ | 826,306,338 |  |  | $ | — |  |  | $ | — |  |  | $ | 826,306,338 |
Total Investments |  | $ | 826,306,338 |  |  | $ | — |  |  | $ | — |  |  | $ | 826,306,338 |
The following represents the changes in quantity of bitcoin and the respective fair value: | The following represents the changes in quantity of bitcoin and the respective fair value:
|  | Bitcoin |  |  | Fair Value |
Beginning Balance as of January 1, 2025 |  |  | 8,849 |  |  | $ | 826,306,338 |
Bitcoin purchased |  |  | 1,089 |  |  |  | 112,563,883 |
Bitcoin sold for the redemption of Shares |  |  | (4,154 | ) |  |  | (383,592,918 | )
Bitcoin transferred to pay the Sponsor fee |  |  | (17 | ) |  |  | (1,699,428 | )
Net Change in unrealized appreciation (depreciation) from investment in bitcoin |  |  | — |  |  |  | (184,888,192 | )
Net Realized gain on investments in bitcoin |  |  | — |  |  |  | 136,800,223 |
Ending balance as of December 31, 2025 |  |  | 5,767 |  |  | $ | 505,489,906 |
|  | Bitcoin |  |  | Fair Value |
Beginning Balance as of January 1, 2024 (a) |  |  | — |  |  | $ | — |
Bitcoin purchased |  |  | 10,386 |  |  |  | 632,012,875 |
Bitcoin sold for the redemption of Shares |  |  | (1,523 | ) |  |  | (112,856,064 | )
Bitcoin transferred to pay Sponsor fee |  |  | (14 | ) |  |  | (922,623 | )
Net change in unrealized appreciation (depreciation) from investment in bitcoin |  |  | — |  |  |  | 262,849,955 |
Net realized gain on investments in bitcoin |  |  | — |  |  |  | 45,222,195 |
Ending balance as of December 31, 2024 |  |  | 8,849 |  |  | $ | 826,306,338 |
(a) | The Trust did not hold bitcoin as of or prior to January 1, 2024 |

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