Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 152

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 152
---
    $
    17.27

    Fourth quarter
     
    $
    12.52

    $
    19.53

    $
    19.53

    $
    7.80

    $
    14.42

    $
    14.43

    2023

    First quarter
     
    $
    16.36

    $
    25.86

    $
    25.86

    $
    8.20

    $
    15.15

    $
    15.15

    Second quarter
     
    $
    19.55

    $
    27.95

    $
    27.94

    $
    13.11

    $
    23.01

    $
    23.00

    Third quarter
     
    $
    21.38

    $
    28.61

    $
    28.60

    $
    17.00

    $
    22.52

    $
    22.51

    Fourth quarter
     
    $
    36.91

    $
    39.80

    $
    39.77

    $
    19.45

    $
    23.99

    $
    24.00

    2024

    First quarter(3)
     
    $
    40.50

    $
    41.87

    $
    41.86

    $
    35.55

    $
    38.24

    $
    38.24

(1)The Principal Market NAV is calculated using the fair value of Bitcoin based on the price provided by the Digital Asset Market that the Trust considers its principal market, which since December 31, 2016 is Coinbase. Prior to December 26, 2023, Principal Market NAV was referred to as NAV and Principal Market NAV per Share was referred to as NAV per Share. See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates—Principal Market and Fair Value Determination.” 

(2)The Trust’s NAV per Share 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 Index Price is calculated using non-GAAP methodology and is not used in the Trust’s financial