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BRRR

GradeCNASDAQ Global Market

CoinShares Bitcoin ETF

Crypto · CoinShares · Inception 2024-01-10 · SEC filings

$23.72−0.58 (−2.39%)

As of Sep 23, 2026, 2:25 PM EDT

History starts Jan 11, 2024.
Intraday session: down, 60 prints from 24.30 to 23.72. Range 23.61 to 24.20. Use the arrow keys to read each point.$23.60$23.80$24.00$24.2010 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$493M
1Y return
−23.3%
Yield · Last 12 months
—
Volume · 30D
0.1M sh
NAV per share
$24.34
52W range
low $16.37high $35.70

The ETF.net BRRR Grade

C

53/ 100

Rank 12 of 13 in Spot Bitcoin⁠

Confidence Medium

Six-pillar profile for BRRR. Scores out of 100: Cost 35, Risk 47, Mission 100, Tradability 22, Holdings not scored, Durability 39. Strongest: Mission (100). Weakest: Tradability (22). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 35
    Category rank7/13 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank3/12 · top 25%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 47
    Category rank8/13 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 22
    Category rank12/13 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 39
    Category rank11/13 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on BRRR

ETF.net Research

CLive since January 2024, CoinShares' spot bitcoin fund keeps it simple: hold the coin, value shares off the CME CF New York reference rate, charge the category's median fee. Same index the household names use, smaller nameplate.

Stated mandate

The Trust seeks to track bitcoin’s value as represented by the CME CF Bitcoin Reference Rate – New York Variant, after expenses and liabilities. It holds bitcoin and values its shares using that index.

Why people hold it

  1. 01Narrow mandate, cleanly executed: hold bitcoin, value shares off the CME CF Bitcoin Reference Rate (New York Variant), less expenses. Tracking of that index has been very close.
  2. 02The 0.25% fee sits right at the cohort median and matches what several of the biggest US spot bitcoin funds charge, including IBIT and BTCO.
  3. 03Spot bitcoin in a grantor trust: no futures to roll, no crypto exchange account, no private keys to guard. It trades in a brokerage account like any other ticker.

Worth knowing

  1. 01Same benchmark, cheaper doors: BTC, BITB and HODL track the identical reference rate at a lower headline fee.
  2. 02Smaller and less heavily traded than the category's giants, which can show up as wider spreads when bitcoin is moving fast.
  3. 03Pure price exposure. It holds bitcoin and pays no distributions, so the coin's full volatility comes through with no income to soften it.

BRRR Holdings

As of Sep 21, 2026, 4:20 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
BITCOIN100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—BITCOIN100.00%5,705$437M11
002—Cash & Other<0.01%2,545$3K674

Showing 1–2 of 2 holdings

BRRR Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BRRR$7,673
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BRRR $7,673. SPY $11,723. Use the arrow keys to read each point.$4,703$8,494$12,285Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BRRR. Periods over one year show the average yearly return.
PeriodBRRR
Year to date−1.7%
1 month+11.9%
3 months+33.8%
1 year−23.3%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BRRR
YearReturn barBRRR
2026 YTD−1.7%
2025−6.5%
2024+99.0%

History from Jan 11, 2024

BRRR in the news

ETF.net Research hasn’t filed on BRRR yet — coverage lands here as it’s written.

BRRR Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

BRRR Risk

How much the fund’s monthly returns vary, scaled to a year.
54.7%
Annualised · 31 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.60
vs 3-month T-bills · 31 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−53.3%
32 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.11
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BRRR Cost

Expense ratio0.25%
  • The middle half of Spot Bitcoin funds
  • Median 0.23%

6 of the 12 Spot Bitcoin funds charge less.

BRRR costs $25.00 a year on $10,000. The median Spot Bitcoin fund costs $23.00.