Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 31

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 31
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 in unrealized appreciation on investment in Bitcoin

    (3,092,838
    )

    16,027,962

    (18,967,171
    )

    Net realized and unrealized gain (loss) on investment

    16,381,013

    16,246,768

    (18,751,107
    )

    Net increase (decrease) in net assets resulting from operations
     
    $
    16,090,537

    $
    15,886,207

    $
    (19,111,790
    )

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

See accompanying notes to the financial statements. 

F-8

GRAYSCALE BITCOIN TRUST ETF

STATEMENTS OF CHANGES IN NET ASSETS 

(Amounts in thousands, except change in Shares outstanding)

    Years Ended December 31,

    2024

    2023

    2022

    Increase (decrease) in net assets from operations:

    Net investment loss
     
    $
    (290,476
    )
     
    $
    (360,561
    )
     
    $
    (360,683
    )

    Net realized gain on investment in Bitcoin sold to pay expenses

    232,398

    218,806

    216,064

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

    17,830,575

    -

    -

    Net realized gain on investment in Bitcoin sold for Initial Distribution (Return of Capital)(1)

    1,410,878

    -

    -

    Net change in unrealized appreciation on investment in Bitcoin

    (3,092,838
    )

    16,027,962

    (18,967,171
    )

    Net increase (decrease) in net assets resulting from operations

    16,090,537

    15,886,207

    (19,111,790
    )

    Decrease in net assets from capital share transactions:

    Shares issued

    790,709

    -

    -

    Shares redeemed

    (22,292,651
    )

    -