iShares Bitcoin Trust ETF (NASDAQ: IBIT) is a digital asset investment trust that holds bitcoin as its sole asset, providing investors with exposure to bitcoin's price performance through a listed exchange-traded product. The Trust generates revenue for its sponsor, iShares Delaware Trust Sponsor LLC (a BlackRock affiliate), through a management fee assessed against trust assets. Share value tracks directly to the value of bitcoin held by the Trust, as measured by an index price designed to reflect the global bitcoin market. The Trust is organized as a Delaware statutory trust and files annual reports under the Securities Exchange Act of 1934. As disclosed in the 10-K filed 2026-02-27, the Trust's shares are registered under Section 12(b) and trade on a national securities exchange under the ticker IBIT. Investors bear exposure to bitcoin price volatility, digital asset custody risks, and blockchain network risks, all of which are disclosed as material risk factors in the filing.