Company: BTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029405
Chunk: 279

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 279
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 on December 31, 2024, using the price provided at 4:00 p.m., New York time, by the Digital Asset Trading Platform Market considered to be the Trust’s principal market (Coinbase). The following represents the changes in quantity of Bitcoin and the respective fair value: 

        (Amounts in thousands, except Bitcoin amounts)
         
        Quantity

        Fair Value

        Balance at July 31, 2024 (the Commencement of the Trust’s Operations)

        -

        $
        -

        Bitcoin contributed

        16,606.04896843

        1,275,420

        Bitcoin contributed from Initial Distribution(1)

        26,935.83753443

        1,756,821

        Bitcoin redeemed

        (5,507.21831323
        )

        (460,574
        )

        Bitcoin distributed for Sponsor’s Fee, related party

        (21.75689015
        )

        (1,637
        )

        Net change in unrealized appreciation on investment in Bitcoin

        -

        889,077

        Net realized gain on investment in Bitcoin sold to pay expenses

        -

        204

        Net realized gain on investment in Bitcoin sold for redemption of Shares

        -

        90,723

        Balance at December 31, 2024

        38,012.91129948

        $
        3,550,034

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

F-12

4. The Initial Distribution from the Grayscale Bitcoin Trust ETF On July 19, 2024, the Sponsor of the Trust issued a press release announcing that the Sponsor, at the direction of its board of directors declared a pro rata distribution on the Shares of the Trust, pursuant to which each holder of Grayscale Bitcoin Trust ETF (“GBTC”) shares as of 4:00 PM ET on July 30, 2024 (the “Record Date,” and such holders, the “GBTC Record Holders”) was entitled to receive Shares of the Trust, in connection with its previously announced initial creation and distribution of Shares of the Trust (such transactions collectively, the “Initial Distribution”), as described in a definitive information statement on