Company: BTC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001193125-25-266856
Chunk: 14

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-11-05
Form: 10-Q
Item: Part II, Item 3
Chunk 14
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 U.S. GAAP basis.“Record Date”—July 30, 2024, the record date for the Initial Distribution.“Redemption Basket”—Basket of Shares redeemed by the Trust upon distribution or disposition of the Basket Amount required for each such Redemption Basket.“Redemption Time”—With respect to the redemption of any Shares by the Trust, the time at which the Trust redeems such Shares.

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“Reorganization”—The internal corporate reorganization of GSI consummated on January 1, 2025.“Reverse Share Split”—A 1-for-5 reverse Share split of the Trust’s issued and outstanding Shares, which was effective on November 19, 2024 to shareholders of record as of the close of business on November 19, 2024. “SEC”—The U.S. Securities and Exchange Commission.“Secondary Market”—Any marketplace or other alternative trading system, as determined by the Sponsor, on which the Shares may then be listed, quoted or traded, including but not limited to, NYSE Arca, Inc.“Securities Act”—The Securities Act of 1933, as amended. “Seed Shares”—10,000 Shares at a per-Share price equal to $10, delivered on April 29, 2024 in exchange for $100,000 in proceeds to the Trust. The Seed Shares were redeemed for cash in connection with, and immediately prior to the consummation of the Initial Distribution. “Settlement Balance”—An account controlled and maintained by the Custodian to which cash and digital assets of the Trust are credited on the Trust’s behalf. “Shares”—Common units of fractional undivided beneficial interest in, and ownership of, the Trust.“Sponsor” or “Co-Sponsor”—The sponsor of the Trust. GSO was a co-sponsor of the Trust from January 1, 2025 to May 3, 2025, and GSIS was a co-sponsor of the Trust from January 1, 2025 to May 3, 2025 and is the sole remaining sponsor thereafter. “Sponsor Contracts”—Certain contracts assigned by GSO pertaining to its role as Sponsor (as such term is defined in the Trust Agreement) of the Trust to GSIS in connection with the Reorganization.“Sponsor-paid Expenses”—The fees and expenses incurred by the Trust in the ordinary course of its affairs that the Sponsor is obligated to assume and pay, excluding taxes, but including: (i) the Marketing Fee, (ii) the Administrator Fee,