In This Story
CoinShares Valkyrie Bitcoin Fund has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports that the Trust's net asset value increased to $826,115,990 as of December 31, 2024, from $0 at the end of the previous year. This increase was due to the creation of 36,635,000 shares and the appreciation in the value of bitcoin.
The Trust's net asset value per share rose from $13.00 at the beginning of the period to $26.43 at the end of the period, reflecting a 103.3% increase.
The Trust's investment objective is to reflect the performance of the value of bitcoin as represented by the CME CF Bitcoin Reference Rate – New York Variant, less the Trust's liabilities and expenses.
The Trust holds bitcoin and values its shares daily based on the value of bitcoin as reflected by the Index. The Trust's net asset value per share is calculated by dividing the Trust's net asset value by the total number of shares outstanding.
The Trust's expenses include a Sponsor Fee, which accrues at an annual rate of 0.25% of the Trust's bitcoin holdings. For the year ended December 31, 2024, the Trust incurred $1,263,370 in Sponsor Fees, with $150,399 waived by the Sponsor.
The Trust's financial statements are prepared in accordance with generally accepted accounting principles in the United States and include fair value measurements of its bitcoin holdings.
The Trust's principal market for bitcoin is determined based on the market with the greatest volume and level of activity for the asset. The Trust uses fair value as its method of accounting for bitcoin.
The Trust does not hold a cash balance except in connection with the creation and redemption of shares or to pay expenses not assumed by the Sponsor. The Trust's only sources of cash are proceeds from the sale of baskets and bitcoin.
The Trust's financial highlights indicate a total return at net asset value of 103.31% for the period from January 10, 2024, to December 31, 2024.
The Trust's management has assessed the effectiveness of the Trust's internal control over financial reporting as of December 31, 2024, and concluded that the Trust maintained effective internal control over financial reporting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the COINSHARES VALKYRI annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.