Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 338

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 338
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) 

    July 31, 2024 (the Commencement of the Trust’s Operations) to December 31, 2024(1)

    Cash used in operating activities

    Net increase in net assets resulting from operations
     
    $
    978,367

    Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash used in operating activities:

    Purchases of Bitcoin(2)
     
    $
    (1,271,933
    )

    Proceeds from Bitcoin sold to pay redemptions(2)

    456,306

    Proceeds from Bitcoin sold to pay expenses

    1,637

    Net realized (gain) loss

    (90,927
    )

    Net change in unrealized (appreciation) depreciation

    (889,077
    )

    Change in operating assets and liabilities:

    Sponsor’s Fee payable

    -

    Net cash used in operating activities
     
    $
    (815,627
    )

    Cash provided by financing activities

    Proceeds from issuance of capital shares(2)
     
    $
    1,271,933

    Payments for capital shares redeemed(2)

    (456,306
    )

    Net cash provided by financing activities
     
    $
    815,627

    Cash

    Net increase in cash
     
    $
    -

    Cash, beginning of period

    -

    Cash, end of period
     
    $
    -

    Supplemental disclosure of noncash operating activities

    Transfer of Bitcoin to pay for Sponsor’s Fee
     
    $
    1,637

    Supplemental disclosure of noncash financing activities

    Transfer of Bitcoin from Initial Distribution(3)
     
    $
    1,756,821

(1)No comparative financial statements have been provided as the Trust’s operations commenced on July 31, 2024. Prior to the commencement of operations on July 31, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.

(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