Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 44

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 44
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 2022 the Trust held 205,398.85921873, 619,525.92917020 and 632,041.52945742 Bitcoin, respectively. The Trust determined the fair value per Bitcoin to be $93,390.22, $42,533.28 and $16,556.29 on December 31, 2024, 2023 and 2022, respectively, using the price provided at 4:00 p.m., New York time, by the Digital Asset Trading Platform Market considered to be the Trust’s principal market (Coinbase). 

F-15

The following represents the changes in quantity of Bitcoin and the respective fair value: 

        (Amounts in thousands, except Bitcoin amounts)
         
        Bitcoin

        Fair Value

        Beginning balance as of January 1, 2022

        644,809.96863835

        $
        29,576,053

        Bitcoin contributed

        -

        -

        Bitcoin distributed for Sponsor’s Fee, related party

        (12,768.43918093
        )

        (360,683
        )

        Net change in unrealized appreciation on investment in Bitcoin

        -

        (18,967,171
        )

        Net realized gain on investment in Bitcoin

        -

        216,064

        Ending balance at December 31, 2022

        632,041.52945742

        $
        10,464,263

        (Amounts in thousands, except Bitcoin amounts)
         
        Bitcoin

        Fair Value

        Beginning balance as of January 1. 2023

        632,041.52945742

        $
        10,464,263

        Bitcoin contributed

        -

        -

        Bitcoin distributed for Sponsor’s Fee, related party

        (12,515.60028722
        )

        (360,561
        )

        Net change in unrealized appreciation on investment in Bitcoin

        -

        16,027,962

        Net realized gain on investment in Bitcoin

        -

        218,806

        Ending balance at December 31, 2023

        619,525.92917020

        $
        26,350,470

        (Amounts in thousands, except Bitcoin amounts)
         
        Bitcoin

        Fair Value

        Beginning balance as of January 1. 2024

        619,525.92917020