Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 113

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 113
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 aggregate market value of Bitcoin was approximately $1.85 trillion. As of December 31, 2024,
Bitcoin was the largest digital asset by market capitalization, as tracked by CoinMarketCap.com.

As of December 31, 2024, the Trust
holds approximately 0.19% of the Bitcoin in circulation. The size of the Trust’s position does not itself enable the Sponsor or the Trust to participate in or otherwise influence the development of the Bitcoin Network. As a decentralized
digital asset network, the Bitcoin Network consists of several stakeholders, including core developers of Bitcoin, users, services, businesses, miners and other constituencies, of which the Trust is only one constituent. Furthermore, in contrast to
other protocols in which token holders participate in the governance of the network, ownership of Bitcoin confers no such rights.

On
November 4, 2024, the Trust changed its name from Grayscale Bitcoin Mini Trust (BTC) to Grayscale Bitcoin Mini Trust ETF by filing a Certificate of Amendment to the Certificate of Trust with the Delaware Secretary of State. On July 26,
2024, the Securities and Exchange Commission (the “SEC”) approved an application under Rule 19b-4 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) by NYSE Arca, Inc.
(“NYSE Arca”) to list the Shares of the Trust, which began trading on NYSE Arca on July 31, 2024, following the effectiveness of the Trust’s registration statement on Form S-1, as amended
(File No. 333-277837). The Shares are listed on NYSE Arca under the ticker symbol “BTC.” The Trust issues common units of fractional undivided beneficial interest (“Shares”), which
represent ownership in the Trust, on a continuous basis pursuant to the registration statement under the Securities Act of 1933, as amended (the “Securities Act”) in exchange for deposits of Bitcoin.

As a passive investment vehicle, the Trust’s investment objective is for the value of the Shares (based on Bitcoin per Share) to reflect
the value of the Bitcoin held by the Trust, determined by reference to the Index Price, less the Trust’s expenses and other liabilities. The Trust does not seek to generate returns beyond tracking the price of Bitcoin. There can be no assurance
that the Trust will be able to achieve its investment objective. The Trust will not utilize leverage, derivatives or any similar arrangements in seeking to meet its investment objective.

Until