Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 232

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 232
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-4 of the Securities Exchange Act of 1934 and the effectiveness of the registration statement on Form S-3, as amended, the Sponsor authorized the commencement of a redemption program. Effective January 11, 2024, the date on which the Shares of the Trust began trading on NYSE Arca, the Trust reflects creations and redemptions and the Bitcoin for proceeds receivable or payable with respect to such creations and redemptions, respectively, on the business day following the receipt of a notification of a creation or redemption order by an Authorized Participant. Creation and redemption orders are settled on T+1 or T+2, as established at the time of order placement, and therefore the Bitcoin for proceeds receivable or payable with respect to such creations and redemptions, respectively, are recorded as a receivable or payable until the Bitcoin are delivered or removed from the Trust for settlement. 

92

As of December 31, 2024, the Trust had a net closing balance of 205,398.85921873 Bitcoin with a value of $19,187,108,495, based on the Index Price of $93,413.90 on December 31, 2024 (non-GAAP methodology). As of December 31, 2024, the total market value of the Trust’s Bitcoin was $19,182,244,650 based on the price of one Bitcoin on the principal market (Coinbase) of $93,390.22 on December 31, 2024. 

As of December 31, 2023, the Trust had a net closing balance of 619,525.92917020 Bitcoin with a value of $26,352,545,225, based on the Index Price of $42,536.63 on December 31, 2023 (non-GAAP methodology). As of December 31, 2023, the total market value of the Trust’s Bitcoin was $26,350,469,813 based on the price of one Bitcoin on the principal market (Coinbase) of $42,533.28 on December 31, 2023. 

As of December 31, 2022, the Trust had a net closing balance of 632,041.52945742 Bitcoin with a value of $10,463,820,425, based on the Index Price of $16,555.59 on December 31, 2022 (non-GAAP methodology). As of December 31, 2022, the