Company: BTC
Filing Date: 2025-02-28
Form Type: 424B3
Source: 0000950170-25-029413
Chunk: 231

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 424B3
Chunk 231
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3,550,034,150 on December 31, 2024, using the price provided at 4:00 p.m., New York time, by the Digital Asset Trading Platform Market considered to be the Trust’s principal market (Coinbase).

The following represents the changes in quantity of Bitcoin and the respective fair value:

| (Amounts in thousands, except Bitcoin amounts)                           
 Balance at July 31, 2024 (the Commencement of the Trust’s Operations)    |     | Quantity |               - |   |     | Fair Value |         - |   |
|:-------------------------------------------------------------------------|:----|:---------|----------------:|:--|:----|:-----------|----------:|:--|
| Bitcoin contributed                                                      |     |          | 16,606.04896843 |   |     |            | 1,275,420 |   |
| Bitcoin contributed from Initial Distribution(1)                         |     |          | 26,935.83753443 |   |     |            | 1,756,821 |   |
| Bitcoin redeemed                                                         |     |          | (5,507.21831323 | ) |     |            |  (460,574 | ) |
| Bitcoin distributed for Sponsor’s Fee, related party                     |     |          |    (21.75689015 | ) |     |            |    (1,637 | ) |
| Net change in unrealized appreciation on investment in Bitcoin           |     |          |               - |   |     |            |   889,077 |   |
| Net realized gain on investment in Bitcoin sold to pay expenses          |     |          |               - |   |     |            |       204 |   |
| Net realized gain on investment in Bitcoin sold for redemption of Shares |     |          |               - |   |     |            |    90,723 |   |
| Balance at December 31, 2024                                             |     |          | 38,012.91129948 |   |     | $          | 3,550,034 |   |

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.

<div align='center'>F-12</div>

4. The Initial Distribution from the Grayscale Bitcoin Trust ETF