Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 228

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 228
---
 Trust does not purchase Shares directly from its shareholders, in connection with its redemption of Baskets, the Trust redeemed approximately 1,150 Baskets (11,496,057 Shares) during the three months ended December 31, 2024:

    Period
     
    Total Number of Shares of BTC Redeemed

    Average Price Paid per Share of BTC(1)(2)

    October 1, 2024 - October 31, 2024

    800,000

    $
    26.45

    November 1, 2024 - November 30, 2024(3)

    5,366,057

    34.55

    December 1, 2024 - December 31, 2024

    5,330,000

    42.50

    Total

    11,496,057

    $
    37.67

(1)The Price Paid per Share is based on the NAV per Share, which is derived from the Index Price as represented by the Index as of 4:00 p.m., New York time, on the valuation date. The Trust’s NAV per Share is calculated using a non-GAAP methodology where the price is derived from multiple Digital Asset Trading Platforms.

(2)Share amounts have been retroactively adjusted to reflect the 1-for-5 Reverse Share Split of the Trust’s issued and outstanding Shares completed on November 19, 2024.

(3)Includes 6,057 Shares redeemed as a fraction of a Basket in connection with the Reverse Share Split.

Item 6. [Reserved] 

82

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read together with, and is qualified in its entirety by reference to, our audited financial statements and related notes included elsewhere in this Annual Report, which have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The following discussion may contain forward-looking statements based on assumptions we believe to be reasonable. Our actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed below and elsewhere in this Annual Report, particularly in “Item 1A. Risk Factors” and “Forward-Looking Statements.” 

Trust Overview

The Trust is a passive entity that is managed and