Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 303

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 303
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. Cash in a bank deposit account, at times, may exceed U.S. federally insured limits. The Trust has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on such bank deposits.

In exchange for the Sponsor’s Fee, the Sponsor has agreed to assume most of the expenses incurred by the Trust. As a result, the only ordinary expense of the Trust during the periods covered by this Annual Report was the Sponsor’s Fee. The Trust is not aware of any trends, demands, conditions or events that are reasonably likely to result in material changes to its liquidity needs.

85

Selected Operating Data 

    July 31, 2024 (the Commencement of the Trust’s Operations) to December 31,

    2024

    (All Bitcoin balances are rounded to the nearest whole Bitcoin)

    Bitcoin:

    Opening balance

    -

    Creations

    16,606

    Creation from Initial Distribution(1)

    26,936

    Redemptions

    (5,507
    )

    Sponsor’s Fee, related party

    (22
    )

    Closing balance

    38,013

    Accrued but unpaid Sponsor’s Fee, related party

    -

    Net closing balance

    38,013

    Number of Shares:(2)

    Opening balance

    -

    Creations

    37,456,000

    Creation from Initial Distribution(1)

    60,738,020

    Redemptions

    (12,424,057
    )

    Closing balance

    85,769,963

    As of December 31,

    2024

    Price of Bitcoin on principal market(3)
     
    $
    93,390.22

    Principal Market NAV per Share(2)(4)
     
    $
    41.39

    Index Price(5)
     
    $
    93,413.90

    NAV per Share(2)(5)
     
    $
    41.40

(1)Represents the impact of the Initial Distribution of 26,935.83753443 Bitcoin, with a value of approximately $1,756.8 million from Grayscale Bitcoin Trust ETF, completed on July 31, 2024, as discussed in Note 4 of the notes to the financial statements.

(2)Share and per Share amounts have been retroactively adjusted to reflect the 1-for-