CoinShares has assessed the quantum vulnerability risk of Bitcoin, concluding that it is manageable and not an immediate threat. The analysis highlights that approximately 1.7 million BTC in P2PK addresses, about 8% of the total supply, are primarily affected. However, the overall market impact is limited as modern Bitcoin addresses (P2PKH/P2SH) conceal public keys before spending, reducing short-term quantum risk. The report indicates that cracking Bitcoin's secp256k1 key is virtually impossible within a year, requiring a significant increase in logical qubits, and is at least a decade away from feasibility. CoinShares suggests that quantum vulnerability is a long-term engineering challenge, advising institutional investors to focus on long-term solutions rather than immediate concerns.