The article misses one point. The number of shares does increase periodically.
The s-1 filings announce increases in the balance of bitcoin held in trust.
September 30, 2016, the Trust held a closing balance of 169,975
December 31, 2016, the Trust held a closing balance of 172,095
March 31, 2017, the Trust held a closing balance of 174,175
Those bitcoins also represent new shares in the trust at the ratio of 1 share per 0.094 bitcoin (or 10.6 shares per bitcoin).
I expect to see a new s-1 filing soon.
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