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Fair Value of Bitcoin (Tables)
 2 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of Changes in Quantity of Bitcoin and the Respective Fair Value

The following represents the changes in quantity of Bitcoin and the respective fair value:

 

(Amounts in thousands, except Bitcoin amounts)

 

Quantity

 

 

Fair Value

 

Balance at July 31, 2024 (the commencement of the Trust’s operations)

 

 

-

 

 

$

-

 

Bitcoin contributed

 

 

7,236.17059767

 

 

 

443,672

 

Bitcoin contributed from Initial Distribution(1)

 

 

26,935.83753443

 

 

 

1,756,821

 

Bitcoin redeemed

 

 

(411.48744542

)

 

 

(23,283

)

Bitcoin distributed for Sponsor’s Fee, related party

 

 

(8.15791197

)

 

 

(491

)

Net change in unrealized depreciation on investment in Bitcoin

 

 

-

 

 

 

(31,309

)

Net realized loss on investment in Bitcoin sold to pay expenses

 

 

-

 

 

 

(35

)

Net realized loss on investment in Bitcoin sold for redemption of Shares

 

 

-

 

 

 

(3,289

)

Balance at September 30, 2024

 

 

33,752.36277471

 

 

$

2,142,086

 
(1)
Represents the impact of the Initial Distribution of 26,935.83753443 Bitcoin, with a value of approximately $1,756.8 million from Grayscale Bitcoin Trust (BTC), completed on July 31, 2024, as discussed in Note 4.