Related Parties |
6 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 | ||||
| Related Party Transactions [Abstract] | ||||
| Related Parties |
Prior to December 19, 2025, the Sponsor paid certain expenses on behalf of, and was reimbursed by, the Trust. For the three and six months ended June 30, 2025, the Trust reimbursed the Sponsor the expenses in the amount of $193,761 and $588,511, respectively. Following the Trust’s conversion to an ETF structure, the Sponsor became responsible for substantially all operating expenses of the Trust. Accordingly, no expense reimbursements were recorded during the current period.
For the three months ended June 30, 2026, and June 30, 2025, the Trust incurred Management Fees of $82,912 and $232,290, respectively, and for six months ended June 30, 2026, and June 30, 2025, the Trust incurred Management Fees of $191,403 and $450,397, respectively, which are recorded in the accompanying statements of operations. As of June 30, 2026, and December 31, 2025, there were unpaid Management Fees of $24,197 and $65,248, respectively, which are due to Sponsor and recorded as management fee payable in the accompanying statements of assets and liabilities.
The Trust’s Management Fee is accrued daily and payable to the Sponsor monthly in arrears in U.S. dollars. From inception through November 30, 2025, all Management Fees have been paid in Bitcoin to the Sponsor. Effective December 2025 Management Fees are to be paid in U.S. Dollars.
The aggregate number of Shares owned by related parties was , valued at $4,988,380 and , valued at $7,450,974 on June 30, 2026, and December 31, 2025, respectively. |