Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 187

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 187
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 statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Marcum LLP 

We have served as the Trust’s auditor from 2015 to 2024 (such date takes into account the acquisition of certain assets of Friedman LLP by Marcum LLP effective September 1, 2022).

New York, New York 

February 23, 2024 

F-5

PART I – FINANCIAL INFORMATION: 

Item 1. Financial Statements (Unaudited) 

GRAYSCALE BITCOIN TRUST ETF

STATEMENTS OF ASSETS AND LIABILITIES 

(Amounts in thousands, except Share and per Share amounts) 

    December 31,

    2024

    2023

    Assets:

    Investment in Bitcoin, at fair value (cost $2,941,518 and $7,016,906 as of December 31, 2024 and 2023, respectively)
     
    $
    19,182,244

    $
    26,350,470

    Total assets
     
    $
    19,182,244

    $
    26,350,470

    Liabilities:

    Sponsor’s Fee payable, related party
     
    $
    -

    $
    -

    Total liabilities

    -

    -

    Net assets
     
    $
    19,182,244

    $
    26,350,470

    Shares issued and outstanding, no par value (unlimited Shares authorized)

    258,950,100

    692,370,100

    Principal market net asset value per Share
     
    $
    74.08

    $
    38.06

See accompanying notes to the financial statements. 

F-6

GRAYSCALE BITCOIN TRUST ETF 

SCHEDULES OF INVESTMENT 

(Amounts in thousands, except quantity of Bitcoin and percentages) 

    December 31, 2024

    Quantity of Bitcoin