Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 9

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 9
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 Trust that was formed on March 12, 2024, by the filing of the Certificate of Trust with the Delaware Secretary of State in
accordance with the provisions of the Delaware Statutory Trust Act.

The Trust’s purpose is to hold Bitcoin, which are digital assets
that are created and transmitted through the operations of the peer-to-peer Bitcoin Network, a decentralized network of computers that operates on cryptographic
protocols. There are several key features of the Bitcoin Network, including the maximum block size used by the network. Bitcoin uses the SHA-256 algorithm, which is preferred for parallel processing, but is
also easily used to build application-specific integrated circuits (ASICs) to mine the network more efficiently. Bitcoin has a current maximum block size of approximately 4MB and, on average blocks are generated every ten minutes. Bitcoin’s
halvings take place approximately every four years, occurring every 210,000 blocks. Additionally, Bitcoin has a maximum supply of 21 million. As of December 31, 2024, Bitcoin’s circulating supply was approximately 19.8 million
coins. As of December 31, 2024, the 24-hour trading volume of Bitcoin was approximately $17.7 billion. As of December 31, 2024, the 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.

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