Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 390

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 390
---
092,838

    Change in operating assets and liabilities:

    Sponsor’s Fee payable

    -

    Net cash provided by operating activities
     
    $
    21,486,719

    Cash used in financing activities

    Proceeds from issuance of capital shares(2)
     
    $
    782,238

    Payments for capital shares redeemed(2)

    (22,268,957
    )

    Net cash used in financing activities
     
    $
    (21,486,719
    )

    Cash

    Net increase (decrease) in cash
     
    $
    -

    Cash, beginning of year

    -

    Cash, end of year
     
    $
    -

    Supplemental disclosure of noncash operating activities

    Transfer of Bitcoin to pay for Sponsor’s Fee
     
    $
    290,476

    Supplemental disclosure of noncash financing activities

    Transfer of Bitcoin used for Initial Distribution (Return of Capital)(3)
     
    $
    1,756,821

(1)No comparative financial statements have been provided, as the Trust did not hold any cash or cash equivalents prior to the Uplisting Date.

(2)The proceeds collected by an Authorized Participant from the sale of Shares and the payments for Shares redeemed by an Authorized Participant do not correlate with the amounts in the Statement of Operations and the Statement of Changes in Net Assets for the period due to creations and redemptions occurring at the Index Price as defined in the Trust Agreement.

(3)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-10