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Quarterly Statement of Operations (unaudited) | 12 Months Ended
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Dec. 31, 2025
Quarterly Statement of Operations (Unaudited) [Abstract] |
Quarterly Statement of Operations (unaudited) |
| 7. | Quarterly Statement of Operations (unaudited)
Fiscal Year Ended December 31, 2025 (Amounts in thousands)
|  | Three Months Ended (unaudited) |  |  | Year Ended |
|  | Mar-31, 2025 |  |  | Jun-30, 2025 |  |  | Sept-30, 2025 |  |  | Dec-31, 2025 |  |  | December 31, 2025 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sponsor fee |  | $ | 2,367 |  |  | $ | 2,444 |  |  | $ | 2,773 |  |  | $ | 2,183 |  |  | $ | 9,767 |
Net expenses |  |  | 2,367 |  |  |  | 2,444 |  |  |  | 2,773 |  |  |  | 2,183 |  |  |  | 9,767 |
Net investment loss |  |  | (2,367 | ) |  |  | (2,444 | ) |  |  | (2,773 | ) |  |  | (2,183 | ) |  |  | (9,767 | )
Realized and change in unrealized gain (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net realized gain on investment in bitcoin sold to pay Sponsor fee |  |  | 497 |  |  |  | 593 |  |  |  | 666 |  |  |  | 168 |  |  |  | 1,924 |
Net realized gain on investment in bitcoin sold for redemptions |  |  | 321,579 |  |  |  | 339,579 |  |  |  | 456,495 |  |  |  | 116,916 |  |  |  | 1,234,569 |
Net change in unrealized appreciation (depreciation) on investment in bitcoin |  |  | (907,296 | ) |  |  | 859,932 |  |  |  | (136,721 | ) |  |  | (1,264,945 | ) |  |  | (1,449,030 | )
Net realized and change in unrealized gain (loss) |  |  | (585,220 | ) |  |  | 1,200,104 |  |  |  | 320,440 |  |  |  | (1,147,861 | ) |  |  | (212,537 | )
Net increase (decrease) in net assets resulting from operations |  | $ | (587,587 | ) |  | $ | 1,197,660 |  |  | $ | 317,667 |  |  | $ | (1,150,044 | ) |  | $ | (222,304 | )
Fiscal Year Ended December 31, 2024 (Amounts in thousands)
|  | Three Months Ended (unaudited) |  |  | Year Ended |
|  | Mar-31, 2024 |  |  | Jun-30, 2024 |  |  | Sept-30, 2024 |  |  | Dec-31, 2024 |  |  | December 31, 2024 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sponsor fee |  | $ | 721 |  |  | $ | 1,555 |  |  | $ | 1,509 |  |  | $ | 2,140 |  |  | $ | 5,925 |
Waiver and Reimbursement |  |  | (93 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (93 | )
Net expenses |  |  | 628 |  |  |  | 1,555 |  |  |  | 1,509 |  |  |  | 2,140 |  |  |  | 5,832 |
Net investment loss |  |  | (628 | ) |  |  | (1,555 | ) |  |  | (1,509 | ) |  |  | (2,140 | ) |  |  | (5,832 | )
Realized and change in unrealized gain (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net realized gain on investment in bitcoin sold to pay Sponsor fee |  |  | (85 | ) |  |  | 327 |  |  |  | 83 |  |  |  | 500 |  |  |  | 825 |
Net realized gain on investment in bitcoin sold for redemptions |  |  | - |  |  |  | 135,325 |  |  |  | 53,132 |  |  |  | 433,421 |  |  |  | 621,878 |
Net change in unrealized appreciation (depreciation) on investment in bitcoin |  |  | 845,323 |  |  |  | (543,311 | ) |  |  | (5,609 | ) |  |  | 978,375 |  |  |  | 1,274,778 |
Net realized and change in unrealized gain (loss) |  |  | 845,238 |  |  |  | (407,659 | ) |  |  | 47,606 |  |  |  | 1,412,296 |  |  |  | 1,897,481 |
Net increase (decrease) in net assets resulting from operations |  | $ | 844,610 |  |  | $ | (409,214 | ) |  | $ | 46,097 |  |  | $ | 1,410,156 |  |  | $ | 1,891,649 |

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