3 unchanged sentences
(Amounts in 000’s of US$, except for share and per share data)
−Removed: March 31, 2026
+Added: June 30, 2026
December 31, 2025
−Removed: Investment in bitcoin , at fair value (cost $ 10,388,215 and $ 11,375,981 as of March 31, 2026 and December 31, 2025, respectively)
+Added: Investment in bitcoin , at fair value (cost $ 9,748,371 and $ 11,375,981 as of June 30, 2026 and December 31, 2025, respectively)
Receivables from sales of bitcoin
−Removed: Receivables from issuance of capital shares
−Removed: Payable for purchases of bitcoin
Payable for capital shares redeemed
2 unchanged sentences
Commitments and Contingencies (Note 6)
−Removed: Shares, no par value (unlimited shares authorized) 216,003,476 and 231,403,476 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively
+Added: Shares, no par value ( unlimited shares authorized) 200,328,476 and 231,403,476 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively
Paid-in-capital
1 unchanged sentence
Total Net Assets
−Removed: Net Asset Value per share ( 216,003,476 and 231,403,476 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively)
+Added: Net Asset Value per share ( 200,328,476 and 231,403,476 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively)
Values shown as $— in the Statements of Assets and Liabilities may reflect amounts less than $500.
2 unchanged sentences
Statements of Operations
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30,
+Added: Six Months Ended June 30,
(Amounts in 000’s of US$)
13 unchanged sentences
Statements of Changes in Net Assets
−Removed: Three Months Ended March 31,
+Added: Three Months Ended June 30,
+Added: Six Months Ended June 30,
(Amounts in 000’s of US$, except for shares)
23 unchanged sentences
Statements of Cash Flows
−Removed: Three Months Ended March 31,
+Added: Six Months Ended June 30,
(Amounts in 000’s of US$)
25 unchanged sentences
Schedules of Investment
−Removed: March 31, 2026
+Added: June 30, 2026
(Amounts in 000’s of US$, except for quantity of bitcoin and percentages)
54 unchanged sentences
The Trust determines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants using the principal market on the measurement date and, therefore, the principal market used must be accessible to the Trust on that date.
−Removed: The Trust determines its principal market price for GAAP reporting and utilizes an exchange-traded price from that principal market as of 11:59:59 p.m., EST, on the financial statement measurement date.
+Added: The Trust determines its principal market price for GAAP reporting and utilizes an exchange-traded price from that principal market as of 11:59:59 p.m., Eastern time (“EST”), on the financial statement measurement date.
GAAP establishes the following fair value hierarchy that prioritizes inputs to valuation techniques used to measure fair value.
17 unchanged sentences
Changes in fair value are reflected as the net change in unrealized appreciation (depreciation) on investment in bitcoin.
−Removed: Realized gains and losses from investment transactions are determined on the basis of identified cost and reflected as net realized gain (loss) on investment in bitcoin sold for redemptions, net realized gain (loss) on investment in bitcoin distributed for redemptions and net realized gain (loss) on investment in bitcoin transferred to pay the sponsor fee.
+Added: Realized gains and losses are determined on the basis of identified cost and reflected as net realized gain (loss) on investment in bitcoin sold for redemptions, net realized gain (loss) on investment in bitcoin distributed for redemptions and net realized gain (loss) on investment in bitcoin transferred to pay the Sponsor fee.
Cash consists of a demand deposit held with a financial institution.
8 unchanged sentences
Open tax years are those years that are open for examination by the relevant income taxing authority.
−Removed: As of March 31, 2026, the 2025, 2024 and 2023 tax yea rs remain open for examination.
+Added: As of June 30, 2026, the 2025, 2024 and 2023 tax yea rs remain open for examination.
There were no examinations in progress at period end.
19 unchanged sentences
Fidelity Product Services LLC, an affiliate of the Sponsor, (the “Index Provider”) is responsible for the methodology and oversight of the Index.
−Removed: Coin Metrics, Inc.
−Removed: is the third-party, independent calculation agent for the Index.
All fees and expenses incurred by the Trust related to services performed by the Index Provider are borne by the Sponsor.
14 unchanged sentences
The Trust’s assets recorded at fair value have been categorized based upon a fair value hierarchy as described in the Trust’s significant accounting policies in Note 2.
−Removed: The following table presents information about the Trust’s assets measured at fair value as o f March 31, 2026 and December 31, 2025:
−Removed: March 31, 2026
+Added: The following table presents information about the Trust’s assets measured at fair value as o f June 30, 2026 and December 31, 2025:
+Added: June 30, 2026
(Amounts are in 000’s)
26 unchanged sentences
Financial Highlights
−Removed: The Trust is presenting the following financial highlights related to investment performance and operations of a Share outstanding for the three months ended March 31, 2026 and 2025.
+Added: The Trust is presenting the following financial highlights related to investment performance and operations of a Share outstanding for the six months ended June 30, 2026 and 2025.
The total return, at net asset value is based on the change in NAV of a Share during the period and the total return, at market value is based on the change in market value of a Share on the Exchange during the period.
An individual investor’s return and ratios may vary based on the timing of capital transactions.
−Removed: Three Months Ended March 31,
+Added: Six Months Ended June 30,
Per Share Activity
14 unchanged sentences
Subsequent Events
−Removed: In preparation of the financial statements, management has evaluated the events and transactions subsequent to March 31, 2026 , and determined that there are no subsequent events or transactions that would require adjustments to or disclosures in the Trust’s financial statements.
+Added: In preparation of the financial statements, management has evaluated the events and transactions subsequent to June 30, 2026 , and determined that there are no subsequent events or transactions that would require adjustments to or disclosures in the Trust’s financial statements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.