INVESTMENT IN BITCOIN (Tables)

9 Months Ended

Dec. 31, 2025

The following represents the changes in quantity of bitcoin held and the respective fair value during the quarter from October 1, 2025 to December 31, 2025


	Amount in bitcoin			Amount in US$
Balance at October 1, 2025	5,789.9639		$	661,347,104
Bitcoin purchased for the creation of Shares	289.3033			28,966,925
Bitcoin sold for the redemption of Shares	(347.1368	)		(32,029,773	)
Principal on bitcoin sales to pay expenses	(4.4775	)		(491,472	)
Net realized gain (loss) from bitcoin sold for the redemption of shares and sold to pay expenses	–			6,465,881
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			(163,300,788	)
Balance at December 31, 2025	5,727.6529		$	500,957,877

The following represents the changes in quantity of bitcoin held and the respective fair value during the quarter from October 1, 2024 to December 31, 2024:


	Amount in bitcoin			Amount in US$
Balance at October 1, 2024	7,103.8488		$	452,356,258
Bitcoin purchased for the creation of Shares	869.5836			69,053,710
Bitcoin sold for the redemption of Shares	(347.8288	)		(23,658,861	)
Principal on bitcoin sales to pay expenses	(1.0863	)		(65,679	)
Net realized gain (loss) from bitcoin sold for the redemption of shares	–			2,814,719
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			211,365,660
Balance at December 31, 2024	7,624.5173		$	711,865,807

The following represents the changes in quantity of bitcoin held and the respective fair value during the nine months April 1, 2025 to December 31, 2025:

	Amount in bitcoin			Amount in US$
Balance at April 1, 2025	4,956.3464		$	411,158,674
Bitcoin purchased for the creation of Shares	1,707.8385			177,354,133
Bitcoin sold for the redemption of Shares	(926.2185	)		(86,635,022	)
Principal on bitcoin sales to pay expenses	(10.3135	)		(1,030,146	)
Net realized gain (loss) from bitcoin sold for the redemption of shares and sold to pay expenses	–			22,776,065
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			(22,665,827	)
Balance at December 31, 2025	5,727.6529		$	500,957,877

The following represents the changes in quantity of bitcoin held and the respective fair value during the nine months April 1, 2024 to December 31, 2024:


	Amount in bitcoin			Amount in US$
Balance at April 1, 2024	4,842.9986		$	341,901,126
Bitcoin purchased for the creation of Shares	4,262.4171			278,780,084
Bitcoin sold for the redemption of Shares	(1,478.7943	)		(89,377,452	)
Principal on bitcoin sales to pay expenses	(2.1041	)		(123,368	)
Net realized gain (loss) from bitcoin sold for the redemption of shares	–			1,657,725
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			179,027,692
Balance at December 31, 2024	7,624.5173		$	711,865,807

Franklin Bitcoin ETF [Member]

INVESTMENT IN BITCOIN [Abstract]

Changes in Quantity of Bitcoin Held

The following represents the changes in quantity of bitcoin held and the respective fair value during the quarter from October 1, 2025 to December 31, 2025:


	Amount in bitcoin			Amount in US$
Balance at October 1, 2025	5,789.9639		$	661,347,104
Bitcoin purchased for the creation of Shares	289.3033			28,966,925
Bitcoin sold for the redemption of Shares	(347.1368	)		(32,029,773	)
Principal on bitcoin sales to pay expenses	(4.4775	)		(491,472	)
Net realized gain (loss) from bitcoin sold for the redemption of shares and sold to pay expenses	–			6,465,881
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			(163,300,788	)
Balance at December 31, 2025	5,727.6529		$	500,957,877

The following represents the changes in quantity of bitcoin held and the respective fair value during the quarter from October 1, 2024 to December 31, 2024:


	Amount in bitcoin			Amount in US$
Balance at October 1, 2024	7,103.8488		$	452,356,258
Bitcoin purchased for the creation of Shares	869.5836			69,053,710
Bitcoin sold for the redemption of Shares	(347.8288	)		(23,658,861	)
Principal on bitcoin sales to pay expenses	(1.0863	)		(65,679	)
Net realized gain (loss) from bitcoin sold for the redemption of shares	–			2,814,719
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			211,365,660
Balance at December 31, 2024	7,624.5173		$	711,865,807

The following represents the changes in quantity of bitcoin held and the respective fair value during the nine months April 1, 2025 to December 31, 2025:


	Amount in bitcoin			Amount in US$
Balance at April 1, 2025	4,956.3464		$	411,158,674
Bitcoin purchased for the creation of Shares	1,707.8385			177,354,133
Bitcoin sold for the redemption of Shares	(926.2185	)		(86,635,022	)
Principal on bitcoin sales to pay expenses	(10.3135	)		(1,030,146	)
Net realized gain (loss) from bitcoin sold for the redemption of shares	–			22,776,065
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			(22,665,827	)
Balance at December 31, 2025	5,727.6529		$	500,957,877

The following represents the changes in quantity of bitcoin held and the respective fair value during the nine months April 1, 2024 to December 31, 2024:


	Amount in bitcoin			Amount in US$
Balance at April 1, 2024	4,842.9986		$	341,901,126
Bitcoin purchased for the creation of Shares	4,262.4171			278,780,084
Bitcoin sold for the redemption of Shares	(1,478.7943	)		(89,377,452	)
Principal on bitcoin sales to pay expenses	(2.1041	)		(123,368	)
Net realized gain (loss) from bitcoin sold for the redemption of shares	–			1,657,725
Net change in unrealized appreciation (depreciation) on investment in bitcoin	–			179,027,692
Balance at December 31, 2024	7,624.5173		$	711,865,807