As of September 30, 2024, the iShares Bitcoin Trust ETF reported significant growth in its financial performance, with total assets amounting to $23.33 billion, primarily driven by its investment in bitcoin, which was valued at $23.33 billion. The net asset value (NAV) per share increased to $36.23, up from $25.00 at the end of the previous fiscal period, reflecting a substantial rise of 44.92% over the nine months.

The Trust's total expenses for the three months ended September 30, 2024, were $11.49 million, while for the nine-month period, total expenses reached $24.52 million. The Trust experienced a net realized loss of $648,877 for the third quarter, but reported a net realized gain of $1.68 million for the nine months. Notably, the Trust achieved a net realized and unrealized gain of $118.44 million for the third quarter and $1.82 billion for the nine-month period, contributing to a net increase in net assets resulting from operations of $106.95 million and $1.80 billion, respectively.

The Trust's net assets saw a remarkable increase from $100,000 at the beginning of the fiscal year to $23.33 billion by September 30, 2024. This growth was largely attributed to a net increase in net assets from capital share transactions, which totaled approximately $13.99 billion for the nine-month period. The Trust's cash position at the end of the period was minimal, with only $14,723 remaining after a net decrease in cash of $85,277.

The Trust underwent a name change from iShares Bitcoin Trust to iShares Bitcoin Trust ETF on August 8, 2024, and has been actively managed by BlackRock Fund Advisors. The Trust's investment strategy remains focused on reflecting the performance of bitcoin prices, with shares trading on NASDAQ under the ticker symbol IBIT.

The price of bitcoin increased by 45.12% from $43,878.41 on January 5, 2024, to $63,677.63 on September 30, 2024, contributing to the overall growth in NAV. The Trust's outstanding shares rose significantly from 4,000 to 644 million during the nine-month period, with 105.92 million shares created and 1.08 million shares redeemed.

The Trust's financial statements are prepared in accordance with U.S. GAAP, and the valuation of bitcoin is a critical accounting policy. The Sponsor's fee, which accrues at an annualized rate of 0.25% of the NAV, was partially waived for the first $5 billion of assets, resulting in a fee reduction for the Trust.