Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 95

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 95
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 jurisdiction
would impose sales tax or value-added tax on purchases and sales of digital assets for fiat currency. If a foreign jurisdiction with a significant share of the market of Bitcoin Network users imposes onerous tax burdens on digital asset users, or
imposes sales or value-added tax on purchases and sales of digital assets for fiat currency, such actions could result in decreased demand for Bitcoin in such jurisdiction.

Any future guidance on the treatment of digital assets for state, local or non-U.S. tax purposes could
increase the expenses of the Trust and could have an adverse effect on the prices of digital assets, including on the price of Bitcoin in the Digital Asset Markets. As a result, any such future guidance could have an adverse effect on the value of
the Shares.

A U.S. tax-exemptshareholder may recognize “unrelated business taxable income” as a consequence of an investment in Shares.

Under the guidance provided in the Ruling & FAQs, hard forks, airdrops and
similar occurrences with respect to digital assets will under certain circumstances be treated as taxable events giving rise to ordinary

55

income. In the absence of guidance to the contrary, it is possible that any such income recognized by a U.S. tax-exemptshareholder would constitute “unrelated business taxable income” (“UBTI”). A tax-exemptshareholder should consult its tax adviser regarding whether such shareholder may recognize UBTI as a consequence of an investment in Shares. See “Material U.S. Federal Income Tax Consequences.” Non-U.S.Holders may be subject to U.S. federal withholding tax on income derived from forks, airdrops and similar occurrences. The Ruling & FAQs do not address whether income recognized by a non-U.S.person as a result of a fork, airdrop or similar occurrence could be subject to the 30% withholding tax imposed on U.S.-source “fixed or determinable annual or periodical” income. Non-U.S.Holders (as defined under “Material U.S. Federal Income Tax Consequences—Tax Consequences to Non-U.S.Holders”) should assume that, in the absence of guidance, a withholding agent (including the Sponsor) is likely to withhold 30% of any such income recognized by a non-U.S.Holder in respect of its Shares, including by deducting such withheld amounts from proceeds that such non-U.S.Holder would otherwise be entitled to receive in connection with a distribution of Incidental Rights or IR Virtual Currency. See “Material U.S. Federal Income Tax Consequences