Three months

ended June 30,

2026 (Unaudited)

Three months

ended June 30,

2025 (Unaudited)

Six months

ended June 30,

2026 (Unaudited)

Six months

ended June 30,

2025 (Unaudited)

Per Share Performance

(for a Share outstanding throughout the period)

Net asset value per Share at beginning of period

$

21.82

$

26.78

$

28.12

$

30.43

Net (decrease) increase in net assets resulting from operations

Net realized and unrealized (loss) gain on investment in Bitcoin

(2.96

)

8.21

(9.23

)

4.66

Net investment loss

(0.03

)

(0.08

)

(0.06

)

(0.18

)

Net (decrease) increase in net assets resulting from operations

(2.99

)

8.13

(9.29

)

4.48

Net asset value per Share at end of period

$

18.83

$

34.91

$

18.83

$

34.91

Total Return ⁽¹⁾

-13.71

%

30.36

%

-33.05

%

14.72

%

Ratios to average net asset value:

Expenses ⁽²⁾

0.49

%

1.02

%

0.49

%

1.13

%

Net Investment Loss ⁽²⁾

-0.49

%

-1.02

%

-0.49

%

-1.13

%