iShares Bitcoin Trust ETF

Ticker: IBIT | Nasdaq

Bitcoin exposure through an exchange-traded structure

The iShares Bitcoin Trust ETF (IBIT) is an exchange-traded product designed to provide investors with exposure to the price of bitcoin. The Trust seeks to reflect generally the performance of bitcoin before the payment of the Trust's expenses and liabilities.

IBIT provides access to bitcoin through a security that trades on Nasdaq, allowing investors to buy and sell shares through a brokerage account rather than directly purchasing and holding bitcoin themselves.

At a Glance

Current BlackRock data lists IBIT's sponsor fee at 0.25% and identifies the CME CF Bitcoin Reference Rate – New York Variant as its benchmark.

How IBIT Works

The Trust's assets consist primarily of bitcoin held by custodians on behalf of the Trust. Shares represent fractional undivided beneficial interests in the Trust's net assets.

IBIT shares trade on Nasdaq during market hours. The market price of IBIT shares can differ from the Trust's net asset value (NAV). Authorized participants can create and redeem large blocks of shares, known as Baskets, subject to the Trust's procedures.

Simplified structure

Investor

↓

IBIT shares traded on Nasdaq

↓

iShares Bitcoin Trust

↓

Bitcoin held by the Trust's custodians

The structure provides an exchange-traded way to obtain bitcoin price exposure without requiring an investor to personally establish a cryptocurrency wallet or arrange direct custody of bitcoin.

Bitcoin Exposure

The Trust's investment objective is closely tied to the market price of bitcoin. As a result, the value of IBIT can rise or fall substantially as the price of bitcoin changes.

IBIT does not seek to generate a regular income distribution. BlackRock currently lists the Fund's distribution frequency as none.

Portfolio and Custody

The Trust's bitcoin is held through institutional custody arrangements. The current prospectus identifies Coinbase Custody Trust Company, LLC as the Bitcoin Custodian and Anchorage Digital Bank N.A. as an available alternative custodian. Cash holdings are held with The Bank of New York Mellon, which also serves as the Trust Administrator.

These arrangements are intended to address the custody and operational requirements associated with holding bitcoin within the Trust.

Trading on Nasdaq

IBIT shares are listed and traded on Nasdaq under the ticker IBIT. Investors can generally buy or sell shares during the trading day at prevailing market prices.

The trading price can differ from the Trust's NAV. This difference may result in shares trading at either a premium or discount to NAV.

Current Fund Size

As of September 22, 2026, BlackRock reported approximately $68.34 billion in net assets and approximately 1.397 billion shares outstanding. The reported NAV was $48.93 per share. These figures change with market movements, creations and redemptions, and other factors.

Key Considerations

Bitcoin Price Risk

IBIT's value is substantially affected by movements in the price of bitcoin. Bitcoin has historically experienced significant price volatility, and substantial losses are possible.

Market Price vs. NAV

IBIT's market price may trade above or below its NAV. Investors purchasing or selling shares on an exchange transact at the market price rather than directly at NAV.

Digital Asset Risk

Bitcoin and the broader digital-asset ecosystem involve technological, regulatory, market, security, and operational risks. Changes affecting digital assets could affect the Trust and its shares.

Custody Risk

The Trust depends on custodial arrangements to safeguard its bitcoin. The loss, theft, compromise, or other impairment of digital assets or custodial infrastructure could adversely affect the Trust.

Regulatory Risk

The regulatory environment surrounding bitcoin and digital assets can change. Changes in laws, regulations, or governmental policies may affect bitcoin and the Trust.

No Income Distribution

IBIT is designed primarily to provide bitcoin price exposure and does not currently make regular distributions to shareholders.

What IBIT Does Not Provide

IBIT shares represent an interest in the Trust; they are not direct ownership of bitcoin in an investor's personal wallet.

Investors do not receive private keys to the Trust's bitcoin, and individual IBIT shareholders cannot directly redeem their shares for bitcoin. The prospectus states that shares are not individually redeemable; creation and redemption occur through authorized participants in large Baskets.

Important Information

The iShares Bitcoin Trust ETF is not an investment company registered under the Investment Company Act of 1940 and is not subject to the same regulatory requirements as mutual funds and ETFs registered under that Act. The Trust is also not a commodity pool for purposes of the Commodity Exchange Act.

An investment in IBIT involves significant risk, including the potential loss of principal. Investors should carefully review the Fund's prospectus, including its risk factors, before investing.

Past performance is not indicative of future results.

This information is provided for educational purposes and is not investment, tax, or legal advice. Investors should consider their individual circumstances and consult appropriate professional advisers before making investment decisions.

Official Fund Information: iShares Bitcoin Trust ETF — BlackRock/iShares