Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 141

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 141
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 Price-Variance Weighting: The price-variance weighting adjustment is a relative measure of each trading platform                                                                                                                                    
 versus the cohort of trading platforms. The further the price at a Constituent Trading Platform is from the mean price of the cohort, the less influence that trading platform’s price will have on the algorithm that produces the Index Price, as 
 the trading platform data is discretely weighted in proportion to their variance from the rest of the trading platforms on a per-second basis.                                                                                                      |

Determination of the Index Price When Index Price is Unavailable The Sponsor uses the following cascading set of rules to calculate the Index Price. For the avoidance of doubt, the Sponsor will employ the below rules sequentially and in the order as presented below, should one or more specific rule(s) fail:

| 1. | Index Price = The price set by the Index as of 4:00 p.m., New York time, on the valuation date. If the Index                                                                                                                                              
 becomes unavailable, or if the Sponsor determines in good faith that the Index does not reflect an accurate price, then the Sponsor will, on a best efforts basis, contact the Index Provider to obtain the Index Price directly from the Index Provider. 
 If after such contact the Index remains unavailable or the Sponsor continues to believe in good faith that the Index does not reflect an accurate price, then the Sponsor will employ the next rule to determine the Index Price. There are no predefined 
 criteria to make a good faith assessment and it will be made by the Sponsor in its sole discretion.                                                                                                                                                       |

| 3. | Index Price = The price set by the Trust’s principal market (the “Tertiary Pricing Option”) as                                                                                                                                                          
 of 4:00 p.m., New York time, on the valuation date. The Tertiary Pricing Option is a spot price derived from the principal market’s public data feed that is believed to be consistently publishing pricing information as of 4:00 p.m., New York       
 time, and is provided to the Sponsor via an application programming interface. If the Tertiary Pricing Option becomes unavailable, or if the Sponsor determines in good faith that the Tertiary Pricing Option does not reflect an accurate price, then 
 the Sponsor will, on a best efforts basis, contact the Tertiary Pricing Provider to obtain the Tertiary Pricing Option directly from the Tertiary Pricing Provider. If after such contact the Tertiary Pricing Option remains unavailable after such    
 contact or the Sponsor continues to believe in good faith that the Tertiary Pricing Option does not reflect an accurate price, then the