Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 32

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 32
---
 by such an exploit such that it is no longer attractive to users,      
 thereby dampening demand for Bitcoin. Even if another digital asset other than Bitcoin were affected by similar circumstances, any reduction in confidence in the source code or cryptography underlying digital asset networks and related protocols 
 generally could negatively affect the demand for digital assets and therefore adversely affect the value of the Shares.                                                                                                                               |

Moreover, because digital assets, including Bitcoin, have existed for a short period of time and are continuing to be developed, there may be additional risks to digital asset networks and related protocols that are impossible to predict as of the date of this prospectus. Digital assets represent a new and rapidly evolving industry, and the value of the Shares depends on the acceptance of Bitcoin. The Bitcoin Network was first launched in 2009 and Bitcoin were the first cryptographic digital assets created to gain global adoption and critical mass. Although the Bitcoin Network is the most established digital asset network, the Bitcoin Network and related protocols represent a new and rapidly evolving industry that is subject to a variety of factors that are difficult to evaluate. For example, the realization of one or more of the following risks could materially adversely affect the value of the Shares:

| • |     | Bitcoin is only selectively accepted as a means of payment by retail and commercial outlets, and use of Bitcoin 
 by consumers to pay such retail and commercial outlets remains limited. Banks and other                         |

19

| established financial institutions, whether voluntarily or in response to regulatory feedback, may refuse to process funds for Bitcoin transactions; process wire transfers to or from Digital                                                          
 Asset Trading Platforms, Bitcoin-related companies or service providers; or maintain accounts for persons or entities transacting in Bitcoin. As a result, the prices of Bitcoin are largely determined by speculators and miners, thus contributing to 
 price volatility that makes retailers less likely to accept it as a form of payment in the future.                                                                                                                                                      |

| • |     | Banks may not provide banking services, or may cut off banking services, to businesses that provide digital                                                                                                                                        
 asset-related services or that accept digital assets as payment, which could dampen liquidity in the market and damage the public perception of digital assets generally or any one digital asset in particular, such as Bitcoin, and their or its 
 utility as a payment system, which could decrease the price of digital assets generally or individually.                                                                                                                                           |

| • |     | The prices of digital assets may be determined on a relatively small number of Digital Asset Trading Platforms by                                                                                                                                        
 a relatively small number of market participants, many of whom are spec