Highlights

  • Exposure focus: Bitcoin exposure through an exchange traded trust.
  • Official net Assets were USD 62,649,980,620 as at 3 November 2026.
  • The listed net annual expense ratio is 0.25%.
  • Its reference measure is CME CF Bitcoin Reference Rate - New York Variant.

iShares Bitcoin Trust ETF (NASDAQ:IBIT) seeks to reflect bitcoin prices through a listed trust structure. Shareholders gain an economic interest through securities rather than managing a personal wallet or private keys. The reference measure is the CME CF Bitcoin Reference Rate New York Variant, while exchange trading determines the price paid for the shares.

Investment approach and market coverage

iShares Bitcoin Trust ETF (NASDAQ:IBIT) is structured as a trust. Its objective is linked to the underlying asset price, with CME CF Bitcoin Reference Rate - New York Variant serving as the reference measure. The exposure differs from a portfolio of operating companies or conventional bonds. Shareholders hold exchange-traded securities rather than direct title to a personally selected quantity of the underlying asset. Fees and the operation of the trust can cause the Shareholder experience to differ from a simple quoted spot price.

Holdings and underlying exposure

The official holdings file dated 3 November 2026 reported bitcoin at 100.00% of portfolio weight, with 805,320.07530 bitcoin listed. The file also contained cash-related entries. This is a concentrated underlying asset exposure: the trust does not diversify among different cryptocurrencies, corporate shares or bond issuers. Bitcoin holdings and the amount represented by each share can change as shares are created or redeemed and trust expenses are paid.

Fees distributions and share pricing

iShares Bitcoin Trust ETF (NASDAQ:IBIT) has a listed gross annual expense ratio of 0.25% and net annual expense ratio of 0.25%. At the net rate, USD 10,000 held at a constant value for a full year would imply approximately USD 25.00 in annual fund expenses. This is an illustrative fee calculation, excluding changes in value, brokerage costs and bid-ask spreads. Expenses are reflected within the product rather than quoted as a promised Investment outcome.

The underlying asset does not generate a contractual income stream. This exposure should therefore be understood primarily through changes in asset value after expenses, rather than as a scheduled income allocation. Trust expenses and asset sales used to meet them can affect the quantity of underlying exposure represented by a share over time.

iShares reported net asset value of USD 43.97 per share as at 3 November 2026. NAV measures the underlying net asset value allocated to a share; it is not an exchange closing-price quotation. Shares trade on NASDAQ, where the transaction price can differ from NAV and where the bid-ask spread adds to the cost of entering or exiting a position.

Digital asset Volatility custody and trading hours

Bitcoin can experience abrupt price changes driven by liquidity, regulation, market sentiment and developments in digital-asset infrastructure. The underlying market trades beyond US stock-exchange hours, so prices can change while trust shares cannot be traded on their primary exchange. Institutional custody does not eliminate technology or operational risk. A listed trust is also distinct from a diversified registered investment company, making its legal structure and disclosures relevant.

Key Insights

iShares Bitcoin Trust ETF (NASDAQ:IBIT) is defined by its underlying asset and trust structure. Its holdings explain the actual exposure, while the fee schedule and distribution arrangements explain important ownership mechanics. These features need to be considered together: broad coverage, a particular style or a specified Maturity band each changes the risks a shareholder takes. The investment objective remains a target, and the value of the shares can decline.

Data checked on 5 November 2026. Each numerical observation uses the specific source date stated above.