# EDGAR Filing Document

**Accession Number:** 0002042292
**File Stem:** 0000929638-25-003692
**Filing Date:** 2025-9
**Character Count:** 9521
**Document Hash:** 5fdef4224a44e73e2db82ae06612b4ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000929638-25-003692.hdr.sgml**: 20250930

**ACCESSION NUMBER**: 0000929638-25-003692

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250929

**FILED AS OF DATE**: 20250930

**DATE AS OF CHANGE**: 20250930

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** COHEN BETSY Z
- **CENTRAL INDEX KEY:** 0001168754

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42873
- **FILM NUMBER:** 251362185
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BTC Development Corp.
- **CENTRAL INDEX KEY:** 0002042292
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 981816717
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2929 ARCH STREET, SUITE 1703
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104
- **BUSINESS PHONE:** (215) 701-9555

**MAIL ADDRESS:**
- **STREET 1:** 2929 ARCH STREET, SUITE 1703
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Emerald Acquisition Corp. II
- **DATE OF NAME CHANGE:** 20241023

## Ex-24

**Exhibit 24** 

#### LIMITED POWER OF ATTORNEY FOR SECTION 16 REPORTING OBLIGATION
I, Betsy Z. Cohen, hereby make, constitute and appoint each of Bracebridge H. Young, Jr. or R. Maxwell Smeal, as well as any person holding the title of Chief Executive Officer, Chief Financial Officer, Secretary or Treasurer of BTC Development Corp. (the "Company"), as my true and lawful attorney-in-fact to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) execute for and on my behalf, in my capacity as an officer of the Company, Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder (the "Exchange Act");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Forms 3, 4, or 5, complete and execute any amendment(s) thereto, and timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 29<sup>th</sup> day of September, 2025.

By: <u>/s/ Betsy Z. Cohen</u>

Name: Betsy Z. Cohen

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>COHEN BETSY Z<br><sub>(Last) (First) (Middle)</sub><br>2929 ARCH STREET<br>SUITE 1703<br><sub>(Street)</sub><br>PHILADELPHIA, PA 19104<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>BTC Development Corp. [ BDCI ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-09-29 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director   [X] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Class A Ordinary Shares | 512500<sup>(1)(2)</sup> | I | By BTC Development Sponsor LLC<sup>(3)</sup> |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Class B Ordinary Shares | <sup>(4)</sup> | <sup>(4)</sup> | Class A Ordinary Shares | 4590334<sup>(2)(8)</sup> | <sup>(4)</sup> | I | By BTC Development Sponsor LLC<sup>(3)</sup> |
| Warrants | <sup>(5)</sup> | <sup>(6)</sup> | Class A Ordinary Shares | 128125<sup>(2)(7)</sup> | $11.5 | I | By BTC Development Sponsor LLC<sup>(3)</sup> |
| Class B Ordinary Shares | <sup>(4)</sup> | <sup>(4)</sup> | Class A Ordinary Shares | 4095833<sup>(2)(8)</sup> | <sup>(4)</sup> | I | By BTC Development Advisors LLC<sup>(3)</sup> |

---

### Footnotes:

(1) These shares underlie 512,500 units of the issuer that BTC Development Sponsor LLC has irrevocably committed to purchase.

(2) The reporting person disclaims beneficial ownership of these securities, except to the extent of her pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for any other purpose.

(3) These shares are held directly by the issuer's sponsors, BTC Development Sponsor LLC and BTC Development Advisors LLC, which are managed by the reporting person.

(4) The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the issuer's initial business combination, or at any time and from time to time at the option of the holder, on a one-for-one basis, subject to certain adjustments described in the issuer's charter documents and have no expiration date.

(5) The warrants will become exercisable at the later of 30 days after the consummation of the issuer's initial business combination or 12 months from the completion of the issuer's initial public offering.

(6) The warrants will expire five years after the consummation of the issuer's initial business combination or earlier upon redemption of all of the issuer's outstanding Class A ordinary shares or the issuer's liquidation.

(7) These warrants underlie 512,500 units of the issuer that BTC Development Sponsor LLC has irrevocably committed to purchase.

(8) Includes up to 1,100,000 shares that are subject to forfeiture in the event the underwriters of the issuer's initial public offering do not exercise in full their over-allotment option.

**Remarks:**
Exhibit 24 - Power of Attorney

**Signature:** /s/ R. Maxwell Smeal, Attorney-in-fact  
**Date:** 2025-09-30

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**