Every 10-Q that Coinshares Bitcoin ETF (BRRR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BRRR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BRRR filings page.
CoinShares Bitcoin ETF reported a sharp decline in asset value for the quarter and six months ended June 30, 2026, driven by lower bitcoin prices despite modest net share creations. Net assets fell to $342.4 million from $505.4 million at December 31, 2025 as bitcoin holdings were valued at 5,864 BTC versus 5,767 BTC year-end.
Net asset value per share decreased 33.5% over six months, from $24.74 to $16.46, tracking a bitcoin price decline of 33.4% over the same period. For the quarter, NAV per share fell 14.4%, producing a net loss of $54.7 million, compared with net income of $141.1 million in the prior-year quarter when bitcoin appreciated.
Operating expenses remain limited to the Sponsor Fee, which is set at an annual rate of 0.25% of bitcoin holdings and totaled $563,328 for the first half. The Trust continues to classify its bitcoin as Level 1 fair value. New risk factor disclosure highlights emerging threats from quantum computing, including recent Google Quantum AI research suggesting bitcoin’s cryptography could be more vulnerable than previously believed.
CoinShares Bitcoin ETF reported Q1 2026 results reflecting the sharp drop in bitcoin prices. Net assets fell from $505,380,907 to $429,730,949 as of March 31, 2026, with holdings of 6,303 bitcoin valued at $429,823,599. NAV per share declined 22.2% from $24.74 to $19.24, closely tracking the bitcoin price move from $87,650 to $68,198. The Trust recorded a net loss of $120,689,754, driven mainly by $120,717,285 of unrealized losses, partially offset by realized gains. Sponsor fees were modest at $288,981 on an annualized 0.25% of bitcoin holdings. During the quarter, investors created 2,510,000 shares and redeemed 600,000 shares, resulting in net creations of 1,910,000 shares. The filing also expands on technology and quantum-computing risks that could affect bitcoin’s cryptography and, in extreme scenarios, the security of holdings.
CoinShares Bitcoin ETF (BRRR) reported Q3 results tied to bitcoin’s price. Net assets were $682,460,646 as of September 30, 2025, with NAV per share at $32.31. Investments consisted of 5,967 bitcoin at fair value of $682,589,262, reflecting the ETF’s single-asset strategy. The Trust recorded quarterly net income of $43,327,647, driven by realized and unrealized gains on bitcoin.
For the nine months ended September 30, 2025, net income totaled $107,856,285. Shares outstanding were 21,120,000 as of September 30, 2025, and 20,935,000 as of October 30, 2025. The Sponsor Fee accrues at 0.25% annually on bitcoin holdings and was the ETF’s primary expense ($424,972 in Q3). During Q3, the Trust saw 1,160,000 shares created and 745,000 shares redeemed, while bitcoin appreciated 7.0% over the quarter, lifting NAV.
CoinShares Bitcoin ETF (BRRR) holds 5,854 bitcoins valued at $625,905,470, making total net assets $625,787,170 and net asset value per share $30.22 at June 30, 2025. The Trust values bitcoin using the CME CF Bitcoin Reference Rate - New York Variant and accrues a Sponsor fee of 0.25% of bitcoin holdings, paid in bitcoin. Shares outstanding totaled 20,705,000.
Operationally, the quarter produced a net income of $141,141,457, driven by realized gains of $11,139,128 and an unrealized gain of $130,366,125, lifting NAV per share 28.7% for the quarter and yielding a total return at NAV of 28.65%. Over six months, net assets declined from $826,115,990 to $625,787,170 as shares outstanding fell from 31,260,000 to 20,705,000. Affiliates of the Sponsor owned 18,140,000 Shares as of June 30, 2025. The Trust noted a subsequent name change to CoinShares Bitcoin ETF.