STOCK TITAN
  1. Home
  2. Financials
  3. BRRR

CoinShares Bitcoin ETF Financials

BRRR
Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows CoinShares Bitcoin ETF (BRRR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BRRR FY2025

Earnings mostly mirror asset-value swings while the balance sheet stays almost entirely equity funded and lightly burdened by operating costs.

A near-steady operating loss base—-$1.1M in FY2024 and -$1.6M in FY2025—did not stop headline profit from flipping sharply, which means the reported bottom line is not being driven by the entity’s own expense run-rate. With net income moving from $307.0M to -$49.7M while assets also contracted, changes tied to the asset base appear to matter far more than recurring operations.

The balance sheet is almost pure equity: FY2025 carried $505.5M of assets and only $109K of liabilities. That structure leaves little debt-related distortion, so gains and losses pass almost directly into equity rather than being amplified by borrowing.

ROA and ROE stayed nearly identical across both reported years, a clue that leverage contributes almost nothing to shareholder returns. In practical terms, owners are experiencing the asset pool’s swings rather than a debt-amplified version of them.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 21 / 100
Financial Profile 21/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of CoinShares Bitcoin ETF's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage
100

CoinShares Bitcoin ETF carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns
28

CoinShares Bitcoin ETF generates a -9.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is down from 37.2% the prior year.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
-$49.7M
YoY-116.2%

CoinShares Bitcoin ETF reported -$49.7M in net income in fiscal year 2025. This represents a decrease of 116.2% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
N/A
Dividends Per Share
N/A
Shares Outstanding
21M

CoinShares Bitcoin ETF had 21M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
-9.8%
YoY-47.0pp

CoinShares Bitcoin ETF's ROE was -9.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 47.0 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

BRRR Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses N/A N/A N/A N/A N/A N/A N/A N/A
Operating Income -$289K N/A -$425K-16.8% -$364K+21.0% -$461K N/A -$344K-18.5% -$290K
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income -$120.7M N/A $43.3M-69.3% $141.1M+284.2% -$76.6M N/A $12.6M+118.1% -$69.7M
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A N/A

BRRR Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $429.8M-15.0% $505.5M-25.9% $682.6M+9.1% $625.9M+27.5% $490.9M-40.6% $826.3M+45.0% $569.8M+9.9% $518.4M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents N/A N/A N/A N/A N/A N/A N/A N/A
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $93K-15.0% $109K-15.3% $129K+8.7% $118K-98.9% $10.6M+5448.5% $190K+75.0% $109K-2.2% $111K
Current Liabilities N/A N/A N/A N/A N/A N/A N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $429.7M-15.0% $505.4M-25.9% $682.5M+9.1% $625.8M+30.3% $480.4M-41.9% $826.1M+45.0% $569.7M+9.9% $518.3M
Retained Earnings N/A N/A N/A N/A N/A N/A N/A N/A

BRRR Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity -28.1% N/A 6.3%-16.2pp 22.6%+38.5pp -16.0% N/A 2.2%+15.7pp -13.5%
Return on Assets -28.1% N/A 6.3%-16.2pp 22.6%+38.2pp -15.6% N/A 2.2%+15.7pp -13.5%
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.000.0 0.000.0 0.000.0 0.00-0.0 0.02+0.0 0.000.0 0.000.0 0.00
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Frequently Asked Questions

No, CoinShares Bitcoin ETF (BRRR) reported a net income of -$49.7M in fiscal year 2025.

CoinShares Bitcoin ETF (BRRR) has a return on equity of -9.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

CoinShares Bitcoin ETF (BRRR) had $505.5M in total assets as of fiscal year 2025, including both current and long-term assets.

CoinShares Bitcoin ETF (BRRR) had 21M shares outstanding as of fiscal year 2025.

CoinShares Bitcoin ETF (BRRR) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

CoinShares Bitcoin ETF (BRRR) had a return on assets of -9.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

CoinShares Bitcoin ETF (BRRR) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

Back to top