{"url_path":"/sec/brrr/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1841175/0001999371-26-010552-index.html","accession_number":"0001999371-26-010552","cik":"0001841175","ticker":"BRRR","issuer_name":"CoinShares Bitcoin ETF","edgar_url":"https://www.sec.gov/Archives/edgar/data/1841175/0001999371-26-010552-index.html","primary_entity_key":"0001841175","primary_entity_name":"CoinShares Bitcoin ETF"},"word_count":690,"has_tables":true,"body_markdown":"false\nQ1\n--12-31\n2026\n0001841175\n\n0001841175\n\n2026-01-01\n2026-03-31\n\n0001841175\n\n2026-04-30\n\n0001841175\n\n2026-03-31\n\n0001841175\n\n2025-12-31\n\n0001841175\n\n2025-01-01\n2025-12-31\n\n0001841175\n\nbrrr:BitcoinMember\n\n2026-03-31\n\n0001841175\n\nbrrr:BitcoinMember\n\n2025-12-31\n\n0001841175\n\nsrt:MaximumMember\n\n2026-03-31\n\n0001841175\n\nsrt:MaximumMember\n\n2025-12-31\n\n0001841175\n\n2025-01-01\n2025-03-31\n\n0001841175\n\n2024-12-31\n\n0001841175\n\n2025-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel1Member\nbrrr:BitcoinMember\n\n2026-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel2Member\nbrrr:BitcoinMember\n\n2026-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel3Member\nbrrr:BitcoinMember\n\n2026-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel1Member\n\n2026-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel2Member\n\n2026-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel3Member\n\n2026-03-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel1Member\nbrrr:BitcoinMember\n\n2025-12-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel2Member\nbrrr:BitcoinMember\n\n2025-12-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel3Member\nbrrr:BitcoinMember\n\n2025-12-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel1Member\n\n2025-12-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel2Member\n\n2025-12-31\n\n0001841175\n\nus-gaap:FairValueInputsLevel3Member\n\n2025-12-31\n\n0001841175\n\nbrrr:BitcoinMember\n\n2026-01-01\n2026-03-31\n\n0001841175\n\nbrrr:BitcoinMember\n\n2024-12-31\n\n0001841175\n\nbrrr:BitcoinMember\n\n2025-01-01\n2025-03-31\n\n0001841175\n\nbrrr:BitcoinMember\n\n2025-03-31\n\n0001841175\n\nbrrr:AffiliatesOfSponsorMember\n\n2026-03-31\n\niso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\nxbrli:pure\n\nbrrr:Unit\n\n** **\n\n \n\n****\n\n \n\n**UNITED STATES**\n\n**SECURITIES AND\nEXCHANGE COMMISSION**\n\n**Washington, D.C.\n20549**\n\n \n\n**FORM 10-Q**\n\n**(Mark One)**\n\n**☒**\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934**\n\n \n \n\n**For the quarterly period ended March 31, 2026**\n\n**OR**\n\n**☐**\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE\nSECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________________ TO ____________________**\n\n \n\nCommission File Number **001-41909**\n\n \n\n**CoinShares Bitcoin\nETF**\n\n(Exact name of Registrant as specified in its\nCharter)\n\n \n\n \n\n**Delaware**\n \n**86-6430837**\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n \n\n(I.R.S. Employer\n\nIdentification No.)\n\n \n \n \n\n**437 Madison Avenue, 28th Floor**\n\n**New York, NY**\n\n \n**10022**\n\n(Address of principal executive offices)\n \n(Zip Code)\n\n \n\nRegistrant’s telephone number, including\narea code: **(615) 909-6421**\n\n \n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\n**Title of each class**\n \n**Trading Symbol(s)**\n \n**Name of each exchange on which registered**\n\nCommon Shares of Beneficial Interest of\n\nCoinShares Bitcoin ETF\n \nBRRR\n \nThe Nasdaq Stock Market, LLC\n\n \n\nSecurities registered pursuant to Section 12(g) of the Act: None\n\n \n\nIndicate by check mark whether the Registrant: (1) has filed all reports\nrequired to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter\nperiod that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes ☒ NO ☐\n\n \n\nIndicate by check mark whether the Registrant has submitted electronically\nevery Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the\npreceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒\nNO ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated\nfiler, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of\n“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth\ncompany” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n \n☐\nAccelerated filer\n \n☐\n\nNon-accelerated filer\n \n☒\nSmaller reporting company\n \n☒\n\n \n \n \nEmerging growth company\n \n☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant\nhas elected not to use the extended transition period for complying with any new or revised financial accounting standards provided in\nSection 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the Registrant is a shell company (as\ndefined in Rule 12b-2 of the Exchange Act). YES ☐ No ☒\n\n \n\nAs of April 30, 2026, the Registrant had 22,325,000 Shares outstanding.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**COINSHARES BITCOIN ETF**\n\n**INDEX**\n\n \n\n \n \n**Page**\n\n**PART I. FINANCIAL INFORMATION**\n \n\n[Item 1.](#brrr10qa002)\n[Financial Statements (unaudited)](#brrr10qa002)\n1\n\n \n[Statements of Financial Condition at March 31, 2026 (unaudited) and December 31, 2025](#brrr10qa003)\n1\n\n \n[Schedules of Investment at March 31, 2026 (unaudited) and December 31, 2025](#brrr10qa004)\n2\n\n \n[Unaudited Statements of Operations for the three months ended March 31, 2026 and 2025](#brrr10qa005)\n3\n\n \n[Unaudited Statements of Changes in Net Assets for the three months ended March 31, 2026 and 2025](#brrr10qa006)\n4\n\n \n[Notes to the Financial Statements (unaudited)](#brrr10qa007)\n5\n\n[Item 2.](#brrr10qa008)\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#brrr10qa008)\n10\n\n[Item 3.](#brrr10qa009)\n[Quantitative and Qualitative Disclosures About Market Risk](#brrr10qa009)\n13\n\n[Item 4.](#brrr10qa010)\n[Controls and Procedures](#brrr10qa010)\n13\n\n \n \n \n\n[**PART II. OTHER INFORMATION**](#brrr10qa011)\n \n\n[Item 1.](#brrr10qa012)\n[Legal Proceedings](#brrr10qa012)\n14\n\n[Item 1A.](#brrr10qa013)\n[Risk Factors](#brrr10qa013)\n14\n\n[Item 2.](#brrr10qa014)\n[Unregistered Sales of Equity Securities and Use of Proceeds](#brrr10qa014)\n15\n\n[Item 3.](#brrr10qa015)\n[Defaults Upon Senior Securities](#brrr10qa015)\n16\n\n[Item 4.](#brrr10qa016)\n[Mine Safety Disclosures](#brrr10qa016)\n16\n\n[Item 5.](#brrr10qa017)\n[Other Information](#brrr10qa017)\n16\n\n[Item 6.](#brrr10qa018)\n[Exhibits](#brrr10qa018)\n16\n\n \n\n \n\n \n\n \n\n**COINSHARES BITCOIN ETF**\n\n** **\n\nPART I. FINANCIAL INFORMATION"}