Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Although the Trust does not purchase Shares directly from its shareholders, in connection with its redemption of Baskets from Authorized Participants during the three months ended March 31, 2026, the Trust redeemed the following Shares:
Period
Total Number of Shares of BTC Redeemed
Average Price Paid per Share of BTC (1)
January 1, 2026 - January 31, 2026
2,270,000
$
38.95
February 1, 2026 - February 28, 2026
3,510,000
30.01
March 1, 2026 - March 31, 2026
490,000
30.49
Total
6,270,000
$
33.28
(1) The Price Paid per Share is based on the NAV per Share, which is derived from the Index Price as represented by the Index as of 4:00 p.m., New York time, on the valuation date. The Trust’s NAV per Share is calculated using a non-GAAP methodology where the price is derived from multiple Digital Asset Trading Platforms.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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