Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 135

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 135
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 behalf of shareholders, we are unable to estimate the total number of shareholders represented by these record holders. 

Recent Sales of Unregistered Shares 

Prior to the Uplisting Date, the Registrant had distributed 692,370,100 Shares at varying prices determined by reference to the NAV per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act. The Shares were sold in connection with an ongoing offering pursuant to Rule 506(c) of Regulation D under the Securities Act. Genesis acted as the Authorized Participant with respect to these distributions. In exchange for these sales, the Trust received an aggregate of 694,811.86692579 Bitcoin. During the year ended December 31, 2024, the Registrant did not distribute any Shares under 506(c) of Regulation D under the Securities Act. Because Shares have been, and continue to be, created and issued on a periodic basis, a “distribution,” as such term is used in the Securities Act, may be occurring from time to time. As a result, an Authorized Participant facilitating the creation of Shares and acting as a distributor and marketer during any such period may be deemed an “underwriter” under Section 2(a)(11) of the Securities Act. No underwriting discounts or commissions were paid to an Authorized Participant with respect to such sales. 

86

Purchases of Equity Securities 

Purchases of equity securities by the issuer and affiliated purchasers —The table below sets forth information regarding open market purchases of Shares of Grayscale Bitcoin Trust ETF (NYSE Arca: GBTC) by DCG, the indirect parent company of the Sponsor, on a monthly basis during the three months ended December 31, 2024: 

    Period
     
    (a) Total Number of Shares of GBTC Purchased

    (b) Average Price Paid per Share of GBTC

    (c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs⁽¹⁾

    (d) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs⁽¹⁾

    (in millions)

    October 1, 2024 - October 31, 2024

    -

    $
    -

    -

    $
    428.2

    November 1, 2024 - November 30, 2024

    -

    -

    -

    428.2

    December 1, 2024