v3.26.1
Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Cash flows from operating activities      
Net increase (decrease) in net assets resulting from operations $ (768,656) $ (453,220)  
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:      
Purchases of bitcoin (487,709) (627,115)  
Proceeds from bitcoin sold 600,687 783,403  
Transfer of bitcoin to pay for Sponsor Fee 1,605 1,988  
Net realized (gain) loss from investment in bitcoin transferred to pay Sponsor Fee (812) (1,151) $ (5,019)
Net realized (gain) loss on In-Kind Redemptions of bitcoin (8,810) 0  
Net realized (gain) loss on investment in bitcoin sold for redemptions 31,390 (23,850) 42,062
Net change in unrealized (appreciation) depreciation on investment in bitcoin 745,422 476,361 299,207
Changes in operating assets and liabilities:      
Increase (Decrease) in Sponsor Fee payable (140) (129)  
Net cash provided by (used in) operating activities 112,977 156,287  
Cash flows from financing activities      
Creations for Shares issued 502,467 690,590  
Redemptions for Shares redeemed (615,444) (846,877)  
Net cash provided by (used in) financing activities (112,977) (156,287)  
Net increase (decrease) in cash 0 0  
Cash, beginning of period 0 0 0
Cash, end of period 0 0 $ 0
Supplemental disclosure of noncash financing activities      
In-Kind Creations of bitcoin 69,010 0  
In-Kind Redemptions of bitcoin $ (20,958) $ 0