Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 7 Months Ended | ||
Dec. 31, 2023 | Feb. 29, 2024 | Jun. 30, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001980994 | ||
Entity Registrant Name | iShares Bitcoin Trust | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 001-41914 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 93-6461129 | ||
Entity Address, Address Line One | 400 Howard Street | ||
Entity Address, City or Town | San Francisco | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94105 | ||
City Area Code | 415 | ||
Local Phone Number | 670-2000 | ||
Title of 12(b) Security | Shares | ||
Trading Symbol | IBIT | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | true | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 0 | ||
Entity Common Stock, Shares Outstanding | 266,000,000 | ||
Auditor Firm ID | 238 | ||
Auditor Name | PricewaterhouseCoopers LLP | ||
Auditor Location | Philadelphia, Pennsylvania |
Statement of Assets and Liabili
Statement of Assets and Liabilities | Dec. 31, 2023 USD ($) $ / shares shares | |
Assets | ||
Cash | $ 100,000 | |
Total Assets | 100,000 | |
Liabilities | ||
Total Liabilities | 0 | |
Commitments and contingent liabilities (Note 6) | ||
Net Assets | $ 100,000 | |
Shares issued and outstanding(a) (in shares) | shares | 4,000 | [1] |
Net asset value per Share (Note 2C) (in dollars per share) | $ / shares | $ 25 | |
[1]No par value, unlimited amount authorized. |
Statement of Changes in Net Ass
Statement of Changes in Net Assets | 2 Months Ended |
Dec. 31, 2023 USD ($) shares | |
Net Assets at October 27, 2023 | $ 0 |
Operations: | |
Net investment loss | 0 |
Net realized gain | 0 |
Net change in unrealized appreciation/depreciation | 0 |
Net increase (decrease) in net assets resulting from operations | 0 |
Capital Share Transactions: | |
Contributions for Shares issued | 100,000 |
Distributions for Shares redeemed | 0 |
Net increase in net assets from capital share transactions | 100,000 |
Increase (decrease) in net assets | 100,000 |
Net Assets, End of Period | $ 100,000 |
Shares issued and redeemed | |
Shares issued (in shares) | shares | 4,000 |
Shares redeemed (in shares) | shares | 0 |
Net increase in Shares issued and outstanding (in shares) | shares | 4,000 |
Statement of Cash Flows
Statement of Cash Flows | 2 Months Ended |
Dec. 31, 2023 USD ($) | |
Cash Provided by Operating Activities | |
Net increase (decrease) in net assets resulting from operations | $ 0 |
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by operating activities: | |
Proceeds from bitcoin sold to pay expenses | 0 |
Change in operating assets and liabilities: | |
Sponsor’s fees payable | 0 |
Net cash provided by operating activities | 0 |
Cash Provided by Financing Activities | |
Proceeds from issuance of capital shares | 100,000 |
Net cash provided by financing activities | 100,000 |
Cash | |
Net increase (decrease) in cash | 100,000 |
Cash, beginning of period | 0 |
Cash, end of period | $ 100,000 |
Insider Trading Arrangements
Insider Trading Arrangements | 7 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 9B. Not |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Note 1 - Organization
Note 1 - Organization | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1 The iShares Bitcoin Trust (the “Trust”) was organized on June 8, 2023 October 17, 2023. As of December 31, 2023, no not The Trust seeks to reflect generally the performance of the price of bitcoin. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities. The Shares are intended to constitute a simple means for an investor to make an investment similar to an investment in bitcoin. The Trust qualifies as an investment company solely for accounting purposes and not 946, not not 1940, |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2 A. Basis of Accounting The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. B. Bitcoin Coinbase Custody Trust Company, LLC (the “Bitcoin Custodian”) is responsible for safekeeping the bitcoin owned by the Trust. The Bitcoin Custodian is appointed by the Trustee. Gain or loss on sales of bitcoin is calculated on a trade date basis using the average cost method. C. Calculation of Net Asset Value On each business day, as soon as practicable after 4:00 D. Cash and Cash Equivalents Cash includes non-interest bearing, non-restricted cash maintained with one not E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no December 31, 2023 no |
Note 3 - Trust Expenses
Note 3 - Trust Expenses | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Trust Expenses [Text Block] | 3 The Trust will pay to the Sponsor a Sponsor’s fee in accordance with the Trust Agreement. The Sponsor’s fee shall be included in the Trust Agreement prior to the commencement of trading of Shares on the Nasdaq Stock Market LLC (“NASDAQ”). In exchange for the Sponsor’s fee, the Sponsor has agreed to assume the marketing and the following administrative expenses of the Trust: the fees of the Trustee, the Delaware Trustee, the Trust Administrator, the Bitcoin Custodian, and the The Bank of New York Mellon (the “Cash Custodian”), NASDAQ listing fees, Securities and Exchange Commission (“SEC”) registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses and up to $500,000 per annum in ordinary legal fees and expenses. The Sponsor may not not |
Note 4 - Related Parties
Note 4 - Related Parties | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4 The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s fee is paid by the Sponsor and is not As of December 31, 2023, |
Note 5 - Indemnification
Note 5 - Indemnification | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Indemnification [Text Block] | 5 The Trust Agreement provides that the Sponsor shall indemnify the Trustee, its directors, employees, delegees and agents against, and hold each of them harmless from, any loss, liability, claim, cost, expense or judgment of any kind whatsoever (including the reasonable fees and expenses of counsel) that is incurred by any of them and that arises out of or is related to ( 1 2 3 not x not The Trust Agreement provides that the Trustee shall indemnify the Sponsor, its directors, employees, delegees and agents against, and hold each of them harmless from, any loss, liability, claim, cost, expense or judgment of any kind whatsoever (including the reasonable fees and expenses of counsel) ( 1 2 not The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates (as such term is defined under the Securities Act of 1933, 1 2 The Trust has agreed that the Cash Custodian will only be responsible for any loss or damage suffered by the Trust as a direct result of the Cash Custodian’s negligence, fraud or willful default in the performance of its duties. The Trust’s maximum exposure under these arrangements is unknown because it involves future potential claims against the Trust, which cannot be predicted with any certainty. |
Note 6 - Commitments and Contin
Note 6 - Commitments and Contingent Liabilities | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 6 may may not |
Note 7 - Subsequent Events
Note 7 - Subsequent Events | 7 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 7 On January 5, 2024, The Trust's registration statement on Form S- 1 January 10, 2024 January 11, 2024. twelve January 11, 2024, first Other than the items noted above there were no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 7 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | A. Basis of Accounting The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
Investment, Policy [Policy Text Block] | B. Bitcoin Coinbase Custody Trust Company, LLC (the “Bitcoin Custodian”) is responsible for safekeeping the bitcoin owned by the Trust. The Bitcoin Custodian is appointed by the Trustee. Gain or loss on sales of bitcoin is calculated on a trade date basis using the average cost method. |
Calculation of Net Asset Value [Policy Text Block] | C. Calculation of Net Asset Value On each business day, as soon as practicable after 4:00 |
Cash and Cash Equivalents, Policy [Policy Text Block] | D. Cash and Cash Equivalents Cash includes non-interest bearing, non-restricted cash maintained with one not |
Income Tax, Policy [Policy Text Block] | E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no December 31, 2023 no |
Note 1 - Organization (Details
Note 1 - Organization (Details Textual) | 2 Months Ended | 7 Months Ended |
Dec. 31, 2023 $ / shares shares | Dec. 31, 2023 USD ($) $ / shares shares | |
Stock Issued During Period, Shares, New Issues (in shares) | 4,000 | |
BlackRock Financial Management, Inc. [Member] | ||
Stock Issued During Period, Shares, New Issues (in shares) | 4,000 | |
Stock Issued During Period, Value, New Issues | $ | $ 100,000 | |
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 25 | $ 25 |
Note 3 - Trust Expenses (Detail
Note 3 - Trust Expenses (Details Textual) | 7 Months Ended |
Dec. 31, 2023 USD ($) | |
Maximum [Member] | |
Legal Fees Per Year | $ 500,000 |
Note 4 - Related Parties (Detai
Note 4 - Related Parties (Details Textual) - BlackRock Financial Management, Inc. [Member] | Dec. 31, 2023 shares |
Shares, Issued (in shares) | 4,000 |
Ownerhsip Percentage | 100% |
Note 5 - Indemnification (Detai
Note 5 - Indemnification (Details Textual) | Dec. 31, 2023 shares |
Shares Prescribed Aggregation (in shares) | 40,000 |
Note 7 - Subsequent Events (Det
Note 7 - Subsequent Events (Details Textual) - USD ($) | 2 Months Ended | 7 Months Ended | 12 Months Ended | |
Jan. 05, 2024 | Dec. 31, 2023 | Dec. 31, 2023 | Jan. 11, 2025 | |
Stock Issued During Period, Shares, New Issues (in shares) | 4,000 | |||
Forecast [Member] | ||||
Sponsors Fee After Fee Waiver, Percentage | 0.12% | |||
Maximum Amount of Trust Assets for Sponsor's Fee After Fee Waiver | $ 5,000,000,000 | |||
BlackRock Financial Management, Inc. [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 4,000 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 25 | $ 25 | ||
Subsequent Event [Member] | ||||
Sponsors Fee Annualized Accrual Rate Based on Daily Net Asset Value | 0.25% | |||
Subsequent Event [Member] | BlackRock Financial Management, Inc. [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 400,000 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 25 | |||
Proceeds from Issuance of Common Stock | $ 10,000,000 |