Bitcoin crash drives 44% asset decline to $8.1B; redemptions accelerate as BTC falls to $58,745

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~2 min read

Key Changes

• high

  Bitcoin price collapsed 45% from $107,754 to $58,745 over the twelve months ended June 30, 2026, driving total net assets down 59% from $19.9B to $8.1B and NAV per Share down 46% to $45.56.

  MD&A: Bitcoin price and net assets verify on EDGAR →
• high

  Six-month operating results reversed from a $2.7B gain in 2025 to a $4.4B loss in 2026, driven by Bitcoin's 33% price decline during the period (from $87,549 to $58,745).

  MD&A: Six-month operating results verify on EDGAR →
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  Redemptions accelerated to 37.85M Shares (29,461 BTC, $2.2B) for the six months ended June 30, 2026, up 33% from the prior year, while creations fell to 4.51M Shares (3,515 BTC, $263M), widening net outflows.

  MD&A: Redemptions vs creations verify on EDGAR →