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RECENT ACCOUNTING PRONOUNCEMENTS | 12 Months Ended
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Dec. 31, 2025
Accounting Changes and Error Corrections [Abstract] |
RECENT ACCOUNTING PRONOUNCEMENTS |
| 10. | RECENT ACCOUNTING PRONOUNCEMENTS
In December 2023, the FASB issued ASU 2023-08, Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”). ASU 2023-08 requires entities to subsequently measure certain crypto assets at fair value, and changes in fair value must be recorded in net income in each reporting period. In addition, entities are required to provide additional disclosures about the holdings of certain crypto assets. ASU 2023-08 is effective for annual and interim reporting periods beginning after December 15, 2024. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. Entities following ASC Topic 946, Financial Services-Investment Companies should continue to present amounts related to crypto assets in their financial statements in accordance with that industry-specific guidance. Management has evaluated ASU 2023-08 and determined that it does not have an impact on the Trust’s financial statements and related disclosures as the Trust presents its bitcoin investment in its financial statements in accordance with ASC Topic 946. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) which enhance income tax disclosures, including amendments that require greater disaggregation of disclosures related to income taxes paid by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management has evaluated ASU 2023-09 and determined that it does not have an impact on the Trust’s financial Statements and related disclosures as the Trust is classified as a grantor trust for federal income tax purposes and, therefore, no provision for federal income taxes is required.

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