CoinShares Bitcoin ETF (NASDAQ:BRRR) filed its Form 10-Q for the quarterly period ended September 30, 2026, disclosing unaudited financial statements including net assets of $477,486,992 and 20,245,000 shares outstanding.

Key Highlights

  • Net assets of $477,486,992 at September 30, 2026, down from $505,380,907 at December 31, 2025, according to the filing.
  • Bitcoin holdings of 5,706 BTC at fair value of $477,581,191 (cost basis $431,840,232) as of September 30, 2026.
  • Net asset value per share of $23.59 at September 30, 2026, compared to $24.74 at December 31, 2025.
  • Net income of $145,899,706 for the three months ended September 30, 2026, compared to $43,327,647 for the same period in 2025.
  • Net loss of $29,470,004 for the nine months ended September 30, 2026, versus net income of $107,856,285 for the nine months ended September 30, 2025.
  • 20,305,000 shares outstanding as of October 31, 2026, the registrant disclosed on the cover page.
  • Sponsor fees of $821,380 were the sole expense for the nine months ended September 30, 2026.

CoinShares Bitcoin ETF Q3 2026 Financial Condition and Operations

According to the filing, CoinShares Bitcoin ETF held 5,706 bitcoin at September 30, 2026, with a fair value of $477,581,191 against a cost basis of $431,840,232. Total liabilities consisted solely of sponsor fees payable of $94,199, leaving net assets of $477,486,992. This compares to net assets of $505,380,907 at December 31, 2025, when the Trust held 5,767 bitcoin at a fair value of $505,489,906.

For the three months ended September 30, 2026, the Trust reported net income of $145,899,706, or $7.09 per share, driven primarily by a net change in unrealized gain on investment of $145,516,428 and net realized gains of $641,330, partially offset by sponsor fee expenses of $258,052, the filing stated. The weighted average shares outstanding for the quarter were 20,565,652. For the comparable three-month period in 2025, net income was $43,327,647, or $2.08 per share.

For the nine months ended September 30, 2026, the Trust reported a net loss of $29,470,004, or $(1.38) per share, the filing disclosed. This reflected a net change in unrealized loss on investment of $32,220,804, partially offset by net realized gains of $3,572,180. Net assets at the opening of the nine-month period were $505,380,907, with creations of $67,404,422 and redemptions of $65,828,333 during the period. The Trust is organized as a Delaware statutory trust and is sponsored by CoinShares Co., with its investment objective being to reflect the performance of the CME CF Bitcoin Reference Rate - New York Variant, less liabilities and expenses.

What Was Disclosed

CoinShares Bitcoin ETF filed a Form 10-Q for the quarter ended September 30, 2026, reporting net assets of $477,486,992, holdings of 5,706 bitcoin, a net asset value per share of $23.59, and a quarterly net income of $145,899,706 driven by unrealized gains on bitcoin.