BITW — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Net realized and change in unrealized loss on investment in Crypto Assets for the three months ended June 30, 2026 was $(97,977), which included a realized gain of $24,322 from the sale of Crypto Assets to pay the Management Fee, for redemption of Shares, and for rebalancing to the Index, and a chan…

• By comparison, during the three months ended June 30, 2025, the Trust's net assets increased from $1,110,098 on March 31, 2025 to $1,425,390 on June 30, 2025. The increase in the Trust's net assets resulted primarily from additions of approximately 2 BTC, 68 ETH, 62,216 ADA, 15,903 SOL, 12,730 XRP, …

• During the six months ended June 30, 2025, net realized and change in unrealized gain on investment in Crypto Assets was $75,999,

• which included a realized gain of $12,965 from the sale of Crypto Assets to pay the Management Fee, for redemption of Shares, and for rebalancing to the Index, and a change in unrealized appreciation on investment in Crypto Assets of $63,034. Net realized and change in unrealized gain on investment …

• The Trust pays a Management Fee of 0.75% per annum of the net asset value of the Trust Estate, which includes all Crypto Assets owned by the Trust, including its investment portfolio, cash, and any contractual rights at the end of each month. In exchange for the Management Fee, the Sponsor is respon…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• During the three months ended March 31, 2026, the Trust's net assets decreased from $1,029,869 on December 31, 2025 to $678,236 on March 31, 2026. The decrease in the Trust's net assets resulted primarily from dispositions of approximately (1,161) BTC, (7,081)

• ETH, (3,455,017) XRP, (32,185) SOL, (2,091,171) ADA, (40,396) LINK, (4,372) LTC, (24,505) AVAX, (213,162) SUI and (94,028) DOT with a value of ($113,605) in connection with sales to pay the Management Fee, for redemption of Shares, and for rebalancing of Crypto Assets to the Index. Dispositions were…

• In consideration for the management services to be provided to the Trust, the Sponsor will receive from the Trust a management fee (the “Management Fee”) equal to 0.75% per annum of the NAV of the Trust Estate. The “Trust Estate” means (i) all the Portfolio Crypto Assets and securities owned by or o…

• The NAV of the Trust is reduced each day by the amount of the Management Fee calculated each day. On or about the last day of each month, either 1) an amount of Crypto Assets is transferred from the Custodial Account to the Sponsor’s account equal to the sum of all daily Management Fees accrued for …

• The Sponsor is responsible for paying for all ordinary administrative and overhead expenses of managing the Trust, including payment of rent, custody charges or flat rate fees for holding the Trust’s assets charged by the Custodian and customary fees and expenses of the Trustee, Administrator, and A…

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Security threats and cyberattacks could result in the halting of Trust operations and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the price of the Shares.

• Security breaches, cyberattacks, computer malware, and computer hacking attacks have been a prevalent concern in relation to digital assets. Multiple thefts of bitcoin, ether, and other digital assets from other holders have occurred in the past. Because of the pseudonymous nature of most Crypto Ass…

• The Trust and its service providers’ use of internet, technology and information systems (including mobile devices and cloud-based service offerings) may expose the Trust to potential risks linked to cybersecurity breaches of those technological or information systems. The Sponsor believes that the …

• The Sponsor believes that the security procedures in place for the Trust, including but not limited to, offline storage or cold storage, HSMs with built-in logic, multiple encrypted private key “shards,” and other measures, are reasonably designed to safeguard the Trust’s Portfolio Crypto Assets. Ne…

• The security procedures and operational infrastructure may be breached due to the actions of outside parties, error or malfeasance of an employee of the Sponsor, Prime Execution Agent, Custodians, or otherwise, and, as a result, an unauthorized party may obtain access to the Custodial Accounts with …