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Institutions / reference page 7

IBIT. Strategy. Strive.Three profiles, three different claims on Bitcoin exposure.

Source-linked desk guide · AI-prepared · Reviewed against sources 2026-10-04. Independent human editorial review pending.

Layered cobalt bridges connect an open ledger across a paper landscape.
Open networks, shared possibility.Original AI-generated conceptual illustration · not a photograph or data chart
The visual briefLTC · Field notes
Conceptual illustration · not live data

Same asset story. Different legal claims.

Fund units, company equity and preferred securities do not grant identical rights.

  1. Assets

    Start with the disclosed entity and its holdings.

  2. Obligations

    Read debt, preferred claims and custody arrangements.

  3. Security

    Locate the investor’s claim within that structure.

Before you concludeDistinguish company assets from assets held for clients.

A fund, an operating company and a corporate capital strategy should not be collapsed into one league table. The first task is to identify who owns the asset and what security a reader is observing.

The notebook / 01

IBIT: fund exposure

IBIT’s product materials describe fund exposure and provide dated holdings. Bitcoin held within a fund is not the asset manager’s own corporate Bitcoin treasury. Product expenses and the share mechanism belong in the profile.

iShares Bitcoin Trust ETF: holdings and product disclosures ↗

The notebook / 02

Strategy: the capital structure matters

Strategy explicitly explains that it is not an ETF or ETP. Its common equity, debt and preferred instruments are distinct claims. The company’s own definitions warn that some Bitcoin-related metrics are supplemental measures with limitations.

Strategy: metric definitions and limitations ↗

The notebook / 03

Strive: use the company record

Strive describes its corporate Bitcoin strategy in investor-relations materials. The profile should pair those statements with dated filings and clearly separate corporate holdings from assets managed for clients. This page does not reproduce a current Strive holding balance.

Strive: investor relations ↗

The latest published edition

The date is part
of the evidence.

October 5, 2026 · Open issue ↗

collected

iShares Bitcoin Trust ETF · holdings

Collected: 2026-10-05T04:14:43.940Z
Source-effective: 2026-10-01

  • 803343.05410 BTCIBIT reported BTC holdings · issuer-reported
  • 1414760000.00 sharesIBIT shares outstanding · issuer-reported
Inspect the saved evidence ↗

unavailable

Strategy · mNAV definitions

Collected: 2026-10-05T04:14:43.940Z
Source-effective: Not established

Reference availability only, or an unavailable source. No validated metric or headline is supplied.

Inspect the saved evidence ↗

Saved observations are dated records, not continuously live values. Software releases retain their original publication dates. Holdings do not establish fund flows; rates and market access require separate current checks.

From the original design / October 2, 2026

Keep the table.
Keep its date.

These are transcribed historical design tables. Their figures have not been revalidated. They do not update with the daily issue and must not be read as current balances, prices, rates or rankings.

A fund. A treasury. A capital strategy.

Reference page 7 ↗

October 2, 2026 reference; IBIT flow refers to October 1; individual metric timestamps vary · Historical design reference · not revalidated

A fund. A treasury. A capital strategy. — historical reference
ProfileExposure categoryReference checkpointEvidence boundary
IBITFund exposure800,535 BTC; October 1 flow +$195.6MTracker holdings; fund collateral is not BlackRock corporate treasury
StrategyCorporate exposure847,666 BTCReference attributes this to primary metrics page; common equity and preferred claims differ
StriveCapital-structure watch27,462 BTCTracker-reported; issuer IR read failed in this pass
  • Three original profiles are preserved; sources S03, S04, S05, S23 and S24. They are not comparable securities or equally verified measurements.
  • Holdings growth alone does not establish common-share return. Cash, debt, preferred claims, dilution, restrictions and acquisition evidence require filing-level reconciliation.
  • A failed historical Strive IR read is a reference limitation, not a claim about whether its site is available now.

Read the original 26-source notebook →

The source shelf

Primary records first
  1. 01

    Primary source

    iShares Bitcoin Trust ETF: holdings and product disclosures ↗

    Read the original record and its own date.

  2. 02

    Primary source

    Strategy: metric definitions and limitations ↗

    Read the original record and its own date.

  3. 03

    Primary source

    Strive: investor relations ↗

    Read the original record and its own date.