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v3.25.1

Statements of Cash Flows - USD ($) | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Cash flows from operating activities: |  |
Net Income (Loss) | $ (73,414,953) | $ 185,816,967
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |
Cost of bitcoin purchased | (28,373,793) | (401,275,835)
Proceeds from bitcoin sold to pay Sponsor Fee | 481,815 | 0
Proceeds from bitcoin sold for redemptions | 246,403,149 | 172,678,972
Net Realized (Gain) Loss from Investments in Bitcoin Sold to pay Sponsor Fee | (88,948) | 0
Net Realized (Gain) Loss from Investments in Bitcoin Sold for Redemptions | (60,847,702) | (37,026,114)
Net Change in Unrealized (Gain) Loss from Investments in Bitcoin | 133,944,630 | (148,790,853)
Change in operating assets and liabilities: |  |
Accrued Sponsor's fees | (74,849) | 0
Net cash provided by (used in) operating activities | 218,029,349 | (228,596,863)
Cash flows from financing activities: |  |
Proceeds from purchases of Shares | 28,384,708 | 455,561,582
Redemption of Shares | (246,414,057) | (227,064,719)
Net cash provided by (used in) financing activities | (218,029,349) | 228,496,863
Net change in cash | 0 | (100,000)
Cash at beginning of period | 0 | 100,000
Cash at end of period | $ 0 | $ 0

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