Company: GBTC
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029408
Chunk: 296

Company: Grayscale Bitcoin Trust ETF
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 296
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        Years Ended December 31,

        2024

        2023

        2022

        Per Share Data:

        Principal market net asset value, beginning of year
         
        $
        38.06

        $
        15.11

        $
        42.72

        Net increase (decrease) in net assets from investment operations:

        Net investment loss

        (0.82
        )

        (0.52
        )

        (0.52
        )

        Net realized and unrealized gain (loss)(1)

        36.84

        23.47

        (27.09
        )

        Net increase (decrease) in net assets resulting from operations

        36.02

        22.95

        (27.61
        )

        Principal market net asset value, end of year
         
        $
        74.08

        $
        38.06

        $
        15.11

        Total return(1)

        116.27
        %

        151.89
        %

        -64.63
        %

        Ratios to average net assets:

        Net investment loss

        -1.52
        %

        -2.00
        %

        -2.00
        %

        Expenses

        -1.52
        %

        -2.00
        %

        -2.00
        %
       
      (1)Includes the impact of the Initial Distribution of 26,935.83753443 Bitcoin, representing 0.00008870 Bitcoin per Share, 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.An individual shareholder’s return, ratios, and per Share performance may vary from those presented above based on the timing of Share transactions. The amount shown for a Share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the number of Shares issued in Creations occurring at an operational value derived from an operating metric as defined in the Trust Agreement. Total return is calculated assuming an initial investment made at the Principal Market NAV at the beginning of the year and assuming redemption on the last day of the year. 

11. Indemnifications In the normal course of business, the Trust enters into certain contracts that provide a variety of indemnities, including contracts with the Sponsor