Every 10-Q that iShares Bitcoin Trust ETF (IBIT) 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 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, a passive vehicle holding bitcoin, recorded substantial value declines in early 2026. Net assets fell from $67,401,155,244 at December 31, 2025 to $43,386,012,125 at June 30, 2026, a 35.63% decrease, as bitcoin’s price dropped 32.43% from $87,463.03 to $59,101.49. Financial Statement NAV per Share declined from $49.61 to $33.48, a (32.51)% total return for the six months; in the second quarter alone, NAV per Share fell 13.31%, closely tracking a 13.25% bitcoin price decline.
Bitcoin holdings decreased from 770,792 to 734,261 bitcoin, reflecting 277,840,000 Shares created and 340,480,000 redeemed, for a net 62,640,000 Share reduction. The Sponsor’s fee, the Trust’s only recurring expense, accrues daily at a 0.25% annualized rate and totaled $72,112,039 for the six-month period.
Disclosures emphasize concentration in bitcoin and ongoing extreme volatility, noting a drawdown of more than 50% from the October 2025 peak to June 2026 levels. Expanded risk discussion highlights evolving U.S. and foreign regulation, including potential reclassification of bitcoin as a security or commodity interest, which could increase compliance costs or lead to Trust liquidation.
iShares Bitcoin Trust ETF reported a sharp first-quarter decline as bitcoin prices fell. Net assets dropped from $67.4B at December 31, 2025 to $53.4B at March 31, 2026, a 20.80% decrease, driven mainly by a 22.10% fall in bitcoin from $87,463.03 to $68,129.64.
The trust held 783,744 bitcoin with a fair value of $53.4B and 1,382,480,000 shares outstanding at quarter-end, resulting in NAV per share of $38.62, down from $49.61. Total return at NAV was (22.15)% for the quarter.
Operations produced a net decrease in net assets of $15.1B, including unrealized losses on bitcoin of $14.9B and a net investment loss of $36.7M, partially offset by realized gains on in-kind redemptions. The sponsor’s fee was $36.7M, reflecting an annualized expense ratio of 0.25%. The trust also highlighted an SEC interpretive release stating that, based on current views, bitcoin is a "digital commodity" and not itself a security, while warning that future legal or regulatory changes could still materially affect bitcoin and the shares.
iShares Bitcoin Trust ETF (IBIT) filed its Q3 2025 report, showing net assets of $87,935,375,468 and NAV per share $64.83 at September 30, 2025. The Trust held 770,011 bitcoin at fair value of $87,952,924,873 (cost $62,337,415,997). Shares outstanding were 1,356,440,000 at quarter‑end.
Q3 operations added $4,677,568,276 to net assets, driven by an unrealized gain of $4,271,556,131 and realized gains tied to redemptions and expenses, offset by a $53,295,322 Sponsor’s fee. For the nine months, net increase from operations was $12,687,808,702; NAV/Share rose from $53.09 to $64.83, aligning with bitcoin’s 22.34% price rise over the same period. Total return at NAV was 6.47% for Q3 and 22.11% year‑to‑date.
The SEC’s July 2025 approvals enabled in‑kind creations and redemptions by authorized participants; agreements in place include Jane Street Capital, Virtu Americas, JP Morgan Securities, and Marex Capital Markets. Risk factors emphasize bitcoin’s price volatility, potential premiums/discounts due to trading hour mismatches, operational reliance on key service providers, and broader digital asset market integrity.
Quarterly highlights (unaudited): As of June 30, 2025 the iShares Bitcoin Trust ETF (IBIT) reported net assets of $74,705,557,367, holding 696,875 BTC with a fair value of $74,720,071,026 (cost $53,376,118,281). Shares outstanding were 1,226,840,000 and NAV per share was $60.89.
For Q2 2025 the Trust recorded a net increase from operations of $14,468,115,204 driven by an unrealized gain of $14,244,730,958, producing a quarterly NAV total return of 29.17%. For the six months ended June 30, 2025 net assets rose 45.00% vs. Dec 31, 2024 and Financial Statement NAV rose 14.69% to $60.89, net Sponsor fee of ~0.12% for the six months.
Subsequent event: On July 29 and July 31, 2025 the SEC actions authorized in-kind creations/redemptions and the S-1 amendment became effective, permitting in-kind activity.