Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 389

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 389
---
 assets resulting from capital share transactions

    (23,258,763
    )

    -

    -

    Total (decrease) increase in net assets from operations and capital share transactions

    (7,168,226
    )

    15,886,207

    (19,111,790
    )

    Net assets:

    Beginning of year

    26,350,470

    10,464,263

    29,576,053

    End of year
     
    $
    19,182,244

    $
    26,350,470

    $
    10,464,263

    Change in Shares outstanding:

    Shares outstanding at beginning of year

    692,370,100

    692,370,100

    692,370,100

    Shares issued

    13,070,000

    -

    -

    Shares redeemed

    (446,490,000
    )

    -

    -

    Net decrease in Shares

    (433,420,000
    )

    -

    -

    Shares outstanding at end of year

    258,950,100

    692,370,100

    692,370,100

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

See accompanying notes to the financial statements. 

F-9

GRAYSCALE BITCOIN TRUST ETF 

STATEMENT OF CASH FLOWS 

(Amounts in thousands)

    Year Ended December 31, 2024(1)

    Cash provided by operating activities

    Net increase in net assets resulting from operations
     
    $
    16,090,537

    Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by operating activities:

    Purchases of Bitcoin(2)
     
    $
    (782,238
    )

    Proceeds from Bitcoin sold to pay redemptions(2)

    22,268,957

    Proceeds from Bitcoin sold to pay expenses

    290,476

    Net realized (gain) loss

    (19,473,851
    )

    Net change in unrealized appreciation on investment in Bitcoin

    3,