Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 26

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 26
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 duties to the Trust and its shareholders other than as provided in the Trust Agreement, which may permit them to favor their own interests to the detriment of the Trust and its shareholders.”                                             |

| In order to raise proceeds to pay for any Additional Trust Expenses, the Sponsor would execute the sale of Bitcoin through                                                                                                                              
 eligible financial institutions that are subject to federal and state licensing requirements and practices regarding AML and KYC regulations, which may include a Liquidity Provider or one or more of their respective affiliates. The Sponsor expects 
 that these financial institutions will generally only have access to Digital Asset Trading Platforms or other venues that they reasonably believe are operating in compliance with applicable law, including federal and state licensing requirements,  
 based upon information and assurances                                                                                                                                                                                                                   |

14

| provided to it by each venue. The Trust is not responsible for paying any costs associated with the transfer of Bitcoin to the Sponsor in connection with the payment of the Sponsor’s Fee or 
 the sale of Bitcoin in connection with the payment of any Additional Trust Expenses.                                                                                                          |

| The number of Bitcoin represented by a Share will decline each time the Trust pays the Sponsor’s Fee or any Additional Trust Expenses by transferring or selling Bitcoin. See “Business—Expenses; Sales of 
 Bitcoin.”                                                                                                                                                                                                  |

| The quantity of Bitcoin to be delivered to the Sponsor or other relevant payee in payment of the Sponsor’s Fee or any Additional Trust Expenses, or sold to permit payment of Additional Trust Expenses, will vary             
 from time to time depending on the level of the Trust’s expenses and the value of Bitcoin held by the Trust. See “Business—Expenses; Sales of Bitcoin.” Assuming that the Trust is a grantor trust for U.S. federal income tax 
 purposes, each delivery or sale of Bitcoin by the Trust for the payment of expenses will be a taxable event to shareholders. See “Material U.S. Federal Income Tax Consequences—Tax Consequences to U.S. Holders.”             |

| Voting Rights | The shareholders take no part in the management or control of the Trust. Under the Trust Agreement, shareholders have limited voting rights. For example, in the event that the Sponsor withdraws, a majority of the shareholders may elect and           
 appoint a successor sponsor to carry out the affairs of the Trust. In addition, no amendments to the Trust Agreement that materially adversely affect the interests of shareholders may be made without the vote of at least a majority (over 50%) of the 
 then-outstanding Shares (not including any Shares held by the Sponsor or its affiliates).