iShares Bitcoin Trust ETF

The iShares Bitcoin Trust ETF is a Delaware statutory trust formed on June 8, 2023. The Trust's primary purpose is to own bitcoin, which it acquires in exchange for shares it issues. Each share represents a fractional beneficial interest in the Trust's net assets. The Trust's assets are mainly bitcoin, held by custodians on its behalf. iShares Delaware Trust Sponsor LLC acts as the sponsor, and BlackRock Fund Advisors serves as the trustee. Wilmington Trust, National Association is the Delaware trustee. Both the sponsor and the trustee are consolidated subsidiaries of BlackRock, Inc. Coinbase Custody Trust Company, LLC is the primary custodian for the Trust's bitcoin, with Anchorage Digital Bank N.A. serving as an additional available custodian. Coinbase, Inc., an affiliate of the Bitcoin Custodian, acts as the Trust's prime execution agent. The Bank of New York Mellon serves as the custodian for the Trust's cash holdings and as the Trust administrator. The Trust's net asset value increased from $51,519,566,547 at December 31, 2024, to $67,401,155,244 at December 31, 2025. The number of outstanding shares also grew from 970,440,000 shares at December 31, 2024, to 1,358,680,000 shares at December 31, 2025.