Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 26

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 16
Chunk 26
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 as the Trust’s operations commenced on July 31, 2024. Prior to the commencement of operations on July 31, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000. 

See accompanying notes to financial statements. F-5

GRAYSCALE BITCOIN MINI TRUST ETF

STATEMENT OF CHANGES IN NET ASSETS

(Amounts in thousands, except change in Shares outstanding)

    July 31, 2024 (the Commencement of the Trust’s Operations) to December 31, 2024(1)

    Increase in net assets from operations:

    Net investment loss
     
    $
    (1,637
    )

    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

    Net change in unrealized appreciation on investment in Bitcoin

    889,077

    Net increase in net assets resulting from operations

    978,367

    Increase in net assets from capital share transactions:

    Shares issued

    1,275,420

    Shares issued from Initial Distribution(2)

    1,756,821

    Shares redeemed

    (460,574
    )

    Net increase in net assets resulting from capital share transactions

    2,571,667

    Total increase in net assets from operations and capital share   transactions

    3,550,034

    Net assets:

    Beginning of period

    -

    End of period
     
    $
    3,550,034

    Change in Shares outstanding:(3)

    Shares outstanding at beginning of period

    -

    Shares issued

    37,456,000

    Shares issued from Initial Distribution(2)

    60,738,020

    Shares redeemed

    (12,424,057
    )

    Net increase in Shares

    85,769,963

    Shares outstanding at end of period

    85,769,963

(1)No comparative financial statements have been provided as the Trust’s operations commenced on July 31, 2024. Prior to the commencement of operations on July 31, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.

(2)Represents the impact of the Initial Distribution of 26,935.837534