Here are the 10-K annual reports from iShares Bitcoin Trust ETF (IBIT) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow IBIT 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 IBIT filings page.
iShares Bitcoin Trust ETF provides an annual overview of its structure, operations, and bitcoin exposure. The Trust’s net asset value rose from $51,519,566,547 at December 31, 2024 to $67,401,155,244 at December 31, 2025, while outstanding Shares increased from 970,440,000 to 1,358,680,000 over the same period.
The Trust is a Delaware statutory trust formed to hold bitcoin in exchange for exchange‑listed Shares, which trade on NASDAQ under the symbol IBIT. It is not registered as an investment company or commodity pool, so investors do not receive those regulatory protections and rely instead on the Trust’s specific governance framework.
Bitcoin is held primarily with Coinbase Custody Trust Company as Bitcoin Custodian, with Anchorage Digital Bank as an additional custodian, and The Bank of New York Mellon as Cash Custodian and administrator. Coinbase also acts as prime execution agent and short‑term trade credit provider, enabling basket creations and redemptions and fee‑related bitcoin sales.
The Trust seeks to mirror bitcoin’s price (before expenses) using the CF Benchmarks Index for daily NAV and publishes an intraday indicative value during NASDAQ hours. Ongoing costs are mainly a Sponsor’s Fee of 0.25% of NAV, with a temporary waiver having reduced this rate on the first $5.0 billion of assets through January 10, 2025.