iShares Bitcoin Trust (IBIT) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Document Information [Line Items]
Entity Central Index Key	0001980994
Entity Registrant Name	iShares Bitcoin Trust ETF
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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 Current Reporting Status	Yes
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		762,360,000

Statements of Assets and Liabil

Statements of Assets and Liabilities (Unaudited) - USD ($)		Sep. 30, 2024	Dec. 31, 2023
Assets
Investment in bitcoin, at fair value	[1]	$ 23,334,553,376	$ 0
Cash		14,723	100,000
Total Assets		23,334,568,099	100,000
Liabilities
Sponsor’s fees payable		3,881,475	0
Total Liabilities		3,881,475	0
Commitments and contingent liabilities (Note 6)
Net Assets		$ 23,330,686,624	$ 100,000
Shares issued and outstanding (in shares)	[2]	644,000,000	4,000
Net asset value per Share (Note 2C) (in dollars per share)		$ 36.23	$ 25
[1]Cost of investment in bitcoin: $21,511,514,705 and $0, respectively.[2]No par value, unlimited amount authorized.

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investment in bitcoin, cost	$ 21,511,514,705	$ 0
Shares, par value (in dollars per share)	$ 0	$ 0
Shares, issued (in shares)	644,000,000	4,000

Statements of Operations (Unaud

Statements of Operations (Unaudited) - USD ($)		3 Months Ended	9 Months Ended
		Sep. 30, 2024	Sep. 30, 2024
Expenses
Sponsor’s fees		$ 13,122,598	$ 28,844,181
Sponsor’s fees waiver		(1,633,880)	(4,324,550)
Total expenses		11,488,718	24,519,631
Net investment loss		(11,488,718)	(24,519,631)
Net Realized and Unrealized Gain (Loss)
Bitcoin sold to pay expenses		(562,447)	892,683
Bitcoin sold for the redemption of Shares		(86,430)	786,458
Net realized gain (loss)		(648,877)	1,679,141
Net change in unrealized appreciation/depreciation		119,089,128	1,823,038,671
Net realized and unrealized gain		118,440,251	1,824,717,812
Net increase (decrease) in net assets resulting from operations		$ 106,951,533	$ 1,800,198,181
Net increase (decrease) in net assets per Share (in dollars per share)	[1]	$ 0.18	$ 4.15
[1]Net increase in net assets per Share based on average shares outstanding during the period.

Statements of Changes in Net As

Statements of Changes in Net Assets (Unaudited) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
Net Assets, Beginning of Period	$ 19,449,621,956	$ 17,788,884,882	$ 100,000	$ 100,000
Operations:
Net investment loss	(11,488,718)	(9,894,244)	(3,136,669)	(24,519,631)
Net realized gain (loss)	(648,877)	2,227,493	100,525	1,679,141
Net change in unrealized appreciation/depreciation	119,089,128	(2,102,796,450)	3,806,745,993	1,823,038,671
Net increase (decrease) in net assets resulting from operations	106,951,533	(2,110,463,201)	3,803,709,849	1,800,198,181
Capital Share Transactions:
Contributions for Shares issued	3,810,098,503	3,817,553,762	13,985,175,033
Distributions for Shares redeemed	(35,985,368)	(46,353,487)	(100,000)
Net increase in net assets from capital share transactions	3,774,113,135	3,771,200,275	13,985,075,033
Increase in net assets	3,881,064,668	1,660,737,074	17,788,784,882
Net Assets, End of Period	$ 23,330,686,624	$ 19,449,621,956	$ 17,788,884,882	$ 23,330,686,624
Shares issued and redeemed
Shares issued (in shares)				646,440,000
Shares redeemed (in shares)				(2,444,000)
Net increase in Shares issued and outstanding (in shares)				643,996,000

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
Cash Flows from Operating Activities
Net increase in net assets resulting from operations	$ 106,951,533	$ 3,803,709,849	$ 1,800,198,181
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Purchases of bitcoin			(21,589,313,309)
Proceeds from bitcoin sold			79,477,745
Net realized (gain) loss	648,877	(100,525)	(1,679,141)
Net change in unrealized appreciation/depreciation	(119,089,128)	(3,806,745,993)	(1,823,038,671)
Change in operating assets and liabilities:
Sponsor’s fees payable			3,881,475
Net cash used in operating activities			(21,530,473,720)
Cash Provided by Financing Activities
Proceeds from issuance of Shares			21,612,827,298
Payments on Shares redeemed			(82,438,855)
Net cash provided by financing activities			21,530,388,443
Cash
Net decrease in cash			(85,277)
Cash, beginning of period		$ 100,000	100,000
Cash, end of period	$ 14,723		$ 14,723

Schedule of Investments (Unaudi

Schedule of Investments (Unaudited)	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Schedule of Investments [Text Block]	® Schedule of Investments (Unaudited) At September 30, 2024 September 30, 2024 Description Quantity Cost Fair Value Bitcoin 366,448 $ 21,511,514,705 $ 23,334,553,376 Total Investments — 100.02 23,334,553,376 Other Assets Less Liabilities — (0.02) (3,866,752 ) Net Assets — 100.00 $ 23,330,686,624 See notes to financial statements.

Note 1 - Organization

Note 1 - Organization	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1 The iShares Bitcoin Trust ETF (the “Trust”) was organized on June 8, 2023 December 28, 2023, No. 1 August 8, 2024. August 8, 2024, On January 5, 2024, January 5, 2024. The Trust’s registration statement on Form S- 1 January 10, 2024 ( January 11, 2024. 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 of making an investment similar to an investment in bitcoin. The accompanying unaudited financial statements were prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and with the instructions for Form 10 not 10 December 31, 2023, March 4, 2024. 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	9 Months Ended
	Sep. 30, 2024
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 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. The net asset value of the Trust equals the total assets of the Trust, which consists solely of bitcoin and cash, less total liabilities of the Trust, each determined by the Trustee pursuant to policies established from time to time by the Trustee or its affiliates or otherwise described herein. The Trust’s periodic financial statements are prepared in accordance with the Financial Accounting Standards Board Accounting Standards Codification Topic 820, 820” 11:59 The Sponsor has the exclusive authority to determine the Trust’s net asset value, which it has delegated to the Trustee under the Trust Agreement. The Trustee has delegated to the Trust Administrator the responsibility to calculate the net asset value of the Trust and the net asset value per Share (“NAV”), based on a pricing source selected by the Trustee. In determining the Trust’s net asset value, the Trust Administrator values the bitcoin held by the Trust based on an index (the “Index”), unless the Sponsor in its sole discretion determines that the Index is unreliable. The methodology used to calculate the Index price to value bitcoin in determining the net asset value of the Trust may not not not not may Additionally, the Trust Administrator monitors for unusual prices and escalates to the Trustee if detected. If the CF Benchmarks Index is not 4:00 4:00 not 5:30 no 8:00 4:00 5:30 The Trust’s periodic financial statements may not not Gain or loss on sales of bitcoin is calculated on a trade date basis using the average cost method. The following table summarizes activity in bitcoin for the three September 30, 2024: Three Months Ended September 30, 2024 Quantity Cost Fair Value Realized Beginning balance 306,979 $ 17,749,065,590 $ 19,453,015,133 $ — Bitcoin purchased 60,053 3,796,560,491 3,796,560,491 — Bitcoin sold for the redemption of shares (391 ) (22,898,817 ) (22,812,387 ) (86,430 ) Bitcoin sold to pay expenses (193 ) (11,212,559 ) (10,650,112 ) (562,447 ) Net realized loss — — (648,877 ) — Net change in unrealized appreciation/depreciation — — 119,089,128 — Ending balance 366,448 $ 21,511,514,705 $ 23,334,553,376 $ (648,877 ) The following table summarizes activity in bitcoin for the nine September 30, 2024: Nine Months Ended September 30, 2024 Quantity Cost Fair Value Realized Beginning balance — $ — $ — $ — Bitcoin purchased 367,805 21,589,313,309 21,589,313,309 — Bitcoin sold for the redemption of shares (1,031 ) (59,047,292 ) (59,833,750 ) 786,458 Bitcoin sold to pay expenses (326 ) (18,751,312 ) (19,643,995 ) 892,683 Net realized gain — — 1,679,141 — Net change in unrealized appreciation/depreciation — — 1,823,038,671 — Ending balance 366,448 $ 21,511,514,705 $ 23,334,553,376 $ 1,679,141 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. Offering of the Shares Shares are issued and redeemed continuously in aggregations of 40,000 Shares (a “Basket”) or integral multiples thereof, based on the quantity of bitcoin attributable to each Share (net of accrued but unpaid Sponsor’s fee and any accrued but unpaid expenses or liabilities). Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. Only registered broker-dealers that are eligible to settle securities transactions through the book entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”), can place orders to receive Baskets in exchange for cash. Baskets may The Trust engages in bitcoin transactions for converting cash into bitcoin (in association with purchase orders) and bitcoin into cash (in association with redemption orders) by choosing, in its sole discretion, to trade directly with third not third F. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no September 30, 2024 not

Note 3 - Trust Expenses

Note 3 - Trust Expenses	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Trust Expenses [Text Block]	3 The Sponsor’s fee is accrued daily at an annualized rate equal to 0.25% of the net asset value of the Trust and is payable at least quarterly in arrears in U.S. dollars or in-kind or any combination thereof. For the period ended September 30, 2024, The Sponsor may, no no not twelve January 11, 2024, first September 30, 2024, 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 Bank of New York Mellon (the “Cash Custodian”), NASDAQ listing fees, 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

Note 4 - Related Parties

Note 4 - Related Parties	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024,

Note 5 - Indemnification

Note 5 - Indemnification	9 Months Ended
	Sep. 30, 2024
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	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6 In the normal course of business, the Trust may may

Note 7 - Concentration Risk

Note 7 - Concentration Risk	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	7 Substantially all of the Trust’s assets are holdings of bitcoin, which creates a concentration risk associated with fluctuations in the price of bitcoin. Accordingly, a decline in the price of bitcoin will have an adverse effect on the value of the Shares of the Trust. Factors that may

Note 8 - Financial Highlights

Note 8 - Financial Highlights	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Financial Highlights [Text Block]	8 The following financial highlights relate to investment performance and operations for a Share outstanding for the three nine September 30, 2024. Three Months Ended Nine Months Ended 2024 2024 Net asset value per Share, beginning of period $ 36.07 $ 25.00 Net investment loss (a) (0.02 ) (0.06 ) Net realized and unrealized gain (b) 0.18 11.29 Net increase in net assets from operations 0.16 11.23 Net asset value per Share, end of period $ 36.23 $ 36.23 Total return, at net asset value (c)(d) 0.44 % 37.80 % (e)(f) Ratio to average net assets: Net investment loss (g) (0.22 )% (0.21 )% Total expenses (g) 0.25 % 0.25 % Total expenses after fees waived (g) 0.22 % 0.21 % (a) Based on average Shares outstanding during the period. (b) The amounts reported for a Share outstanding may not (c) Based on the change in net asset value of a Share during the period. (d) Percentage is not (e) For the period January 10, 2024 ( September 30, 2024. (f) For the period January 1, 2024 September 30, 2024, (g) Percentage is annualized.

Note 9 - Investment Valuation

Note 9 - Investment Valuation	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9 Investment Valuation U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust’s policy is to value its investment at fair value. Various inputs are used in determining the fair value of assets and liabilities. Inputs may may three three Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices included within Level 1 not Level 3 Unobservable inputs that are unobservable for the asset or liability, including the Trust’s assumptions used in determining the fair value of investments. At September 30, 2024, 1.

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2024
Insider Trading Arr Line Items
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

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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 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. The net asset value of the Trust equals the total assets of the Trust, which consists solely of bitcoin and cash, less total liabilities of the Trust, each determined by the Trustee pursuant to policies established from time to time by the Trustee or its affiliates or otherwise described herein. The Trust’s periodic financial statements are prepared in accordance with the Financial Accounting Standards Board Accounting Standards Codification Topic 820, 820” 11:59 The Sponsor has the exclusive authority to determine the Trust’s net asset value, which it has delegated to the Trustee under the Trust Agreement. The Trustee has delegated to the Trust Administrator the responsibility to calculate the net asset value of the Trust and the net asset value per Share (“NAV”), based on a pricing source selected by the Trustee. In determining the Trust’s net asset value, the Trust Administrator values the bitcoin held by the Trust based on an index (the “Index”), unless the Sponsor in its sole discretion determines that the Index is unreliable. The methodology used to calculate the Index price to value bitcoin in determining the net asset value of the Trust may not not not not may Additionally, the Trust Administrator monitors for unusual prices and escalates to the Trustee if detected. If the CF Benchmarks Index is not 4:00 4:00 not 5:30 no 8:00 4:00 5:30 The Trust’s periodic financial statements may not not Gain or loss on sales of bitcoin is calculated on a trade date basis using the average cost method. The following table summarizes activity in bitcoin for the three September 30, 2024: Three Months Ended September 30, 2024 Quantity Cost Fair Value Realized Beginning balance 306,979 $ 17,749,065,590 $ 19,453,015,133 $ — Bitcoin purchased 60,053 3,796,560,491 3,796,560,491 — Bitcoin sold for the redemption of shares (391 ) (22,898,817 ) (22,812,387 ) (86,430 ) Bitcoin sold to pay expenses (193 ) (11,212,559 ) (10,650,112 ) (562,447 ) Net realized loss — — (648,877 ) — Net change in unrealized appreciation/depreciation — — 119,089,128 — Ending balance 366,448 $ 21,511,514,705 $ 23,334,553,376 $ (648,877 ) The following table summarizes activity in bitcoin for the nine September 30, 2024: Nine Months Ended September 30, 2024 Quantity Cost Fair Value Realized Beginning balance — $ — $ — $ — Bitcoin purchased 367,805 21,589,313,309 21,589,313,309 — Bitcoin sold for the redemption of shares (1,031 ) (59,047,292 ) (59,833,750 ) 786,458 Bitcoin sold to pay expenses (326 ) (18,751,312 ) (19,643,995 ) 892,683 Net realized gain — — 1,679,141 — Net change in unrealized appreciation/depreciation — — 1,823,038,671 — Ending balance 366,448 $ 21,511,514,705 $ 23,334,553,376 $ 1,679,141
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
Offering of the Shares [Policy Text Block]	E. Offering of the Shares Shares are issued and redeemed continuously in aggregations of 40,000 Shares (a “Basket”) or integral multiples thereof, based on the quantity of bitcoin attributable to each Share (net of accrued but unpaid Sponsor’s fee and any accrued but unpaid expenses or liabilities). Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. Only registered broker-dealers that are eligible to settle securities transactions through the book entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”), can place orders to receive Baskets in exchange for cash. Baskets may The Trust engages in bitcoin transactions for converting cash into bitcoin (in association with purchase orders) and bitcoin into cash (in association with redemption orders) by choosing, in its sole discretion, to trade directly with third not third
Income Tax, Policy [Policy Text Block]	F. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no September 30, 2024 not

Schedule of Investments (Unau_2

Schedule of Investments (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Investment [Table Text Block]	Description Quantity Cost Fair Value Bitcoin 366,448 $ 21,511,514,705 $ 23,334,553,376 Total Investments — 100.02 23,334,553,376 Other Assets Less Liabilities — (0.02) (3,866,752 ) Net Assets — 100.00 $ 23,330,686,624

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Activity in Bitcoin [Table Text Block]	Three Months Ended September 30, 2024 Quantity Cost Fair Value Realized Beginning balance 306,979 $ 17,749,065,590 $ 19,453,015,133 $ — Bitcoin purchased 60,053 3,796,560,491 3,796,560,491 — Bitcoin sold for the redemption of shares (391 ) (22,898,817 ) (22,812,387 ) (86,430 ) Bitcoin sold to pay expenses (193 ) (11,212,559 ) (10,650,112 ) (562,447 ) Net realized loss — — (648,877 ) — Net change in unrealized appreciation/depreciation — — 119,089,128 — Ending balance 366,448 $ 21,511,514,705 $ 23,334,553,376 $ (648,877 ) Nine Months Ended September 30, 2024 Quantity Cost Fair Value Realized Beginning balance — $ — $ — $ — Bitcoin purchased 367,805 21,589,313,309 21,589,313,309 — Bitcoin sold for the redemption of shares (1,031 ) (59,047,292 ) (59,833,750 ) 786,458 Bitcoin sold to pay expenses (326 ) (18,751,312 ) (19,643,995 ) 892,683 Net realized gain — — 1,679,141 — Net change in unrealized appreciation/depreciation — — 1,823,038,671 — Ending balance 366,448 $ 21,511,514,705 $ 23,334,553,376 $ 1,679,141

Note 8 - Financial Highlights (

Note 8 - Financial Highlights (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Financial Highlights [Table Text Block]	Three Months Ended Nine Months Ended 2024 2024 Net asset value per Share, beginning of period $ 36.07 $ 25.00 Net investment loss (a) (0.02 ) (0.06 ) Net realized and unrealized gain (b) 0.18 11.29 Net increase in net assets from operations 0.16 11.23 Net asset value per Share, end of period $ 36.23 $ 36.23 Total return, at net asset value (c)(d) 0.44 % 37.80 % (e)(f) Ratio to average net assets: Net investment loss (g) (0.22 )% (0.21 )% Total expenses (g) 0.25 % 0.25 % Total expenses after fees waived (g) 0.22 % 0.21 %

Schedule of Investments (Unau_3

Schedule of Investments (Unaudited) - Investments (Details)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Bitcoin	366,448	306,979		0
Investment in bitcoin, cost	$ 21,511,514,705	$ 17,749,065,590		$ 0
Bitcoin fair value	23,334,553,376
Other Assets less Liabilities	(3,866,752)
Net Assets	$ 23,330,686,624	$ 19,449,621,956	$ 17,788,884,882	$ 100,000

Schedule of Investments (Unau_4

Schedule of Investments (Unaudited) - Investments (Details) (Parentheticals)	Sep. 30, 2024
Total investment, percentage of net asset value	100.02%
Other Assets less liabilities, percentage of net asset value	(0.02%)
Net assets, percentage of net asset value	100%

Note 1 - Organization (Details

Note 1 - Organization (Details Textual) - USD ($)		3 Months Ended			9 Months Ended
	Jan. 05, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024
Shares of Stock Classifed as Temporary Equity Surrendered During Reporting Period (in shares)					2,444,000
Value of Stock Classified as Temporary Equity Surrendered During Reporting Period		$ 35,985,368	$ 46,353,487	$ 100,000
Stock Issued During Period, Shares, New Issues (in shares)					646,440,000
Sponsors Fee Annualized Accrual Rate Based on Daily Net Asset Value	0.25%				0.25%
BlackRock Financial Management, Inc. [Member]
Shares of Stock Classifed as Temporary Equity Surrendered During Reporting Period (in shares)	4,000
Value of Stock Classified as Temporary Equity Surrendered During Reporting Period	$ 100,000
Shares Redeemed, Price Per Share (in dollars per share)	$ 25
Stock Issued During Period, Shares, New Issues (in shares)	400,000
Shares Issued, Price Per Share (in dollars per share)	$ 25
Stock Issued During Period, Value, New Issues	$ 10,000,000

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)	Sep. 30, 2024 shares
Shares Prescribed Aggregation (in shares)	40,000

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Activity in Bitcoin (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)
Beginning balance	306,979		0	0
Beginning balance, average cost	$ 17,749,065,590		$ 0	$ 0
Beginning balance, fair value	$ 19,453,015,133		0	$ 0
Bitcoin purchased	60,053			367,805
Bitcoin purchased, average cost	$ 3,796,560,491			$ 21,589,313,309
Bitcoin purchased, fair value	$ 3,796,560,491			$ 21,589,313,309
Bitcoin sold for the redemption of shares	(391)			(1,031)
Bitcoin sold for the redemption of shares, average cost	$ (22,898,817)			$ (59,047,292)
Bitcoin sold for the redemption of shares, fair value	(22,812,387)			(59,833,750)
Bitcoin sold for the redemption of shares, realized gain (loss)	$ (86,430)			$ 786,458
Bitcoin sold to pay expenses	(193)			(326)
Bitcoin sold to pay expenses, average cost	$ (11,212,559)			$ (18,751,312)
Bitcoin sold to pay expenses, fair value	(10,650,112)			(19,643,995)
Bitcoin sold to pay expenses, realized gain (loss)	(562,447)			892,683
Net realized gain (loss), fair value	(648,877)	$ 2,227,493	100,525	1,679,141
Net change in unrealized appreciation/depreciation, fair value	$ 119,089,128	$ (2,102,796,450)	3,806,745,993	$ 1,823,038,671
Ending balance	366,448	306,979		366,448
Ending balance, average cost	$ 21,511,514,705	$ 17,749,065,590		$ 21,511,514,705
Ending balance, fair value	23,334,553,376	19,453,015,133		23,334,553,376
Ending balance, realized gain (loss)	$ (648,877)	$ 2,227,493	$ 100,525	$ 1,679,141

Note 3 - Trust Expenses (Detail

Note 3 - Trust Expenses (Details Textual) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 05, 2024	Sep. 30, 2024	Sep. 30, 2024	Jan. 11, 2025
Sponsors Fee Annualized Accrual Rate Based on Daily Net Asset Value	0.25%		0.25%
Sponsor's Fees		$ 13,122,598	$ 28,844,181
Sponsor Fees Waived		$ 1,633,880	4,324,550
Maximum [Member]
Legal Fees Per Year			$ 500,000
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

Note 4 - Related Parties (Detai

Note 4 - Related Parties (Details Textual) - BlackRock Financial Management, Inc. [Member]	Sep. 30, 2024 shares
Shares, Issued (in shares)	400,000
Ownership Percentage	0.06%

Note 8 - Financial Highlights_2

Note 8 - Financial Highlights (Details Textual)	9 Months Ended
	Sep. 30, 2024
Investment Company, Total Return	44.92%

Note 8 - Financial Highlights -

Note 8 - Financial Highlights - Financial Highlights (Details) - $ / shares		3 Months Ended	9 Months Ended
		Sep. 30, 2024	Sep. 30, 2024
Net asset value per Share, beginning of period (in dollars per share)		$ 36.07	$ 25
Net investment loss (in dollars per share)	[1]	(0.02)	(0.06)
Net realized and unrealized gain (in dollars per share)	[2]	0.18	11.29
Net increase in net assets from operations (in dollars per share)		0.16	11.23
Net asset value per Share, end of period (in dollars per share)		$ 36.23	$ 36.23
Total return, at net asset value	[3],[4]	0.44%	37.80%	[5],[6]
Ratio to average net assets:
Net investment loss	[7]	(0.22%)	(0.21%)
Total expenses	[7]	0.25%	0.25%
Total expenses after fees waived	[7]	0.22%	0.21%
[1]Based on average Shares outstanding during the period.[2]The amounts reported for a Share outstanding may not accord with the change in aggregate gains and losses on investment for the period due to the timing of Share transactions in relation to the fluctuating fair values of the Trust’s underlying investment.[3]Based on the change in net asset value of a Share during the period.[4]Percentage is not annualized.[5]For the period January 1, 2024 to September 30, 2024, the Trust’s total return was 44.92%.[6]For the period January 10, 2024 (Effective Date) to September 30, 2024.[7]Percentage is annualized.