Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 149

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 149
---
 the Trust’s performance for periods subsequent to January 11, 2024.

93

The following chart illustrates the movement in the Trust’s NAV per Share (as adjusted for the Share Split for periods prior to January 26, 2018) versus the Index Price and the Trust’s Principal Market NAV per Share (as adjusted for the Share Split for periods prior to January 26, 2018) from September 25, 2013 (date of the first Creation Basket of the Trust) to December 31, 2024. For more information on the determination of the Trust’s NAV, see “Item 1. Business—Overview of the Bitcoin Industry and Market—Bitcoin Value—The Index and the Index Price”. 

94

The following table illustrates the movements in the Index Price from January 1, 2020 to December 31, 2024. During such period, the Index Price has ranged from $4,941.00 to $106,734.51, with the straight average being $36,295.59 through December 31, 2024. The Sponsor has not observed a material difference between the Index Price and average prices from the Constituent Trading Platforms individually or as a group. 

    High
     
    Low

    Period
     
    Average

    Index Price

    Date
     
    Index Price

    Date
     
    End ofperiod

    Last businessday

    Twelve months ended December 31, 2020
     
    $
    11,103.62

    $
    29,185.50

    12/31/2020
     
    $
    4,941.00

    3/16/2020
     
    $
    29,185.50

    $
    29,185.50

    Twelve months ended December 31, 2021
     
    $
    47,420.39

    $
    67,352.59

    11/9/2021
     
    $
    29,311.80

    1/1/2021
     
    $
    45,869.35

    $
    45,869.35

    Twelve months ended December 31, 2022
     
    $
    28,194.56

    $
    47,980.44

    3/28/2022