Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 38

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 38
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 the segment’s performance, are consistent with that presented within the Trust’s financial statements. Segment assets are reflected on the accompanying Statement of Assets and Liabilities as Total Assets and the only significant segment expense, the Sponsor’s fee, related party, is included in the accompanying Statement of Operations.

3. Fair Value of Bitcoin Bitcoin is held by the Custodian on behalf of the Trust and is carried at fair value. As of December 31, 2024 the Trust held 38,012.91129948 Bitcoin. The Trust determined the fair value per Bitcoin to be $3,550,034,150 on December 31, 2024, 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). The following represents the changes in quantity of Bitcoin and the respective fair value: 

        (Amounts in thousands, except Bitcoin amounts)
         
        Quantity

        Fair Value

        Balance at July 31, 2024 (the Commencement of the Trust’s Operations)

        -

        $
        -

        Bitcoin contributed

        16,606.04896843

        1,275,420

        Bitcoin contributed from Initial Distribution(1)

        26,935.83753443

        1,756,821

        Bitcoin redeemed

        (5,507.21831323
        )

        (460,574
        )

        Bitcoin distributed for Sponsor’s Fee, related party

        (21.75689015
        )

        (1,637
        )

        Net change in unrealized appreciation on investment in Bitcoin

        -

        889,077

        Net realized gain on investment in Bitcoin sold to pay expenses

        -

        204

        Net realized gain on investment in Bitcoin sold for redemption of Shares

        -

        90,723

        Balance at December 31, 2024

        38,012.91129948

        $
        3,550,034

      (1)Represents the impact of the Initial Distribution of 26,935.83753443 Bitcoin, with a value of approximately $1,756.8 million from Grayscale Bitcoin Trust ETF, completed on July 31, 2024, as discussed in Note 4.

F-12

4. The Initial Distribution from the Grayscale Bitcoin Trust ETF On July 19, 2024, the Sponsor of the Trust