Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 274

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 274
---

    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

    3,092,838

    Change in operating assets and liabilities:

    Sponsor’s Fee payable

    -

    Net cash provided by operating activities
     
    $
    21,486,719

    Cash used in financing activities

    Proceeds from issuance of capital shares(2)
     
    $
    782,238

    Payments for capital shares redeemed(2)

    (22,268,957
    )

    Net cash used in financing activities
     
    $
    (21,486,719
    )

    Cash

    Net increase (decrease) in cash
     
    $
    -

    Cash, beginning of year

    -

    Cash, end of year
     
    $
    -

    Supplemental disclosure of noncash operating activities

    Transfer of Bitcoin to pay for Sponsor’s Fee
     
    $
    290,476

    Supplemental disclosure of noncash financing activities

    Transfer of Bitcoin used for Initial Distribution (Return of Capital)(3)
     
    $
    1,756,821

(1)No comparative financial statements have been provided, as the Trust did not hold