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Related Parties
 12 Months Ended
Dec. 31, 2025
Related Parties [Abstract]  
Related Parties
  6. Related Parties

 

The Sponsor is a related party to the Trust. The Trust’s operations are supported by its Sponsor, who is in turn supported by its parent company and affiliated companies and external service providers.

 

As of December 31, 2024 and December 31, 2025, the Sponsor owned zero Shares of the Trust.

 

The Sponsor arranged for the creation of the Trust and is responsible for the ongoing registration of the Shares for their public offering in the United States and the listing of Shares on the Exchange.

 

For the year ended December 31, 2025, the Trust engaged in digital asset trading activity with FalconX Bravo consisting of purchases in the amount of $166,410,058 and sales of $42,561,493. For the period subsequent to FalconX Bravo becoming an affiliated entity, purchases and sales totaled $18,340,510 and $10,395,710, respectively. In connection with transactions executed in 2025, the Trust incurred total commissions of $59,697, of which $1,040 related to transactions occurring after FalconX Bravo became an affiliated entity.