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The iShares Bitcoin Trust (IBIT) is a Delaware statutory trust formed to provide investors with exposure to bitcoin without directly holding the cryptocurrency. The Trust's primary business activity is owning bitcoin purchased in exchange for shares issued by the Trust. It operates as a passive investment vehicle, focusing on issuing and redeeming shares, managing bitcoin transactions, and maintaining compliance with regulatory requirements.
- Bitcoin Holdings - Owns bitcoin purchased in exchange for shares, providing investors with exposure to bitcoin prices without direct ownership of the cryptocurrency.
- Share Issuance and Redemption - Issues and redeems shares in blocks of 40,000, known as "Baskets," in exchange for cash, facilitating investment in bitcoin.
- Bitcoin Transactions - Engages in transactions to convert cash into bitcoin and vice versa, using third-party Bitcoin Trading Counterparties or Coinbase, Inc. as the Prime Execution Agent.
- Expense Management - Sells or delivers bitcoin to cover the Sponsor's Fee, Trust expenses not assumed by the Sponsor, and other liabilities.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Shannon Ghia ExecutiveBoard | Director, President, and Chief Executive Officer | Global Co-Head of ETF Markets at BlackRock | Shannon Ghia oversees the operations of the iShares Bitcoin Trust as its Principal Executive Officer. She has been with BlackRock since 2002 and has held various leadership roles in ETF markets. | View Report → |
Bryan Bowers Executive | Chief Financial Officer | None | Bryan Bowers oversees fund accounting operations and strategic product initiatives at IBIT. He has been with BlackRock since 2011 and has held various roles in financial reporting and fund administration. | |
Lindsey Haswell Board | Director | Chief Legal and Administrative Officer at MoonPay, Founding Team Member of Core Blockchain Network | Lindsey Haswell is a Director and Audit Committee Member at IBIT. She has extensive experience in legal and administrative roles in tech and blockchain companies. | |
Peter Landini Board | Director | Partner and Wealth Manager at RBP Investment Advisors, Inc. | Peter Landini is a Director and Audit Committee Member at IBIT. He has been a Partner and Wealth Manager at RBP Investment Advisors since 2003. | |
Philip Jensen Board | Director | Partner at Paul Capital Partners | Philip Jensen serves as a Director and Chairman of the Sponsor's Audit Committee. He has been a Partner at Paul Capital Partners since 2001. | |
Kimun Lee | Member of the Sponsor's Audit Committee | Board Member at Firsthand Technology Value Fund, Inc., Firsthand Funds, FundX Investment Trust | Kimun Lee is a member of the Sponsor's Audit Committee and holds multiple board positions in investment funds. |
Recent press releases and 8-K filings for IBIT.
- Material Definitive Agreement: On April 7, 2025, the Trust entered into a custodial services agreement with Anchorage Digital Bank to establish segregated custody accounts for its Bitcoin holdings while maintaining its existing arrangement with Coinbase.
- Enhanced Security Measures: The agreement requires Anchorage to keep private keys in cold storage, reinforcing the Trust’s risk management strategy and offering flexibility in asset allocation.