# EDGAR Filing Document

**Accession Number:** 0001976672
**File Stem:** 0000894189-26-007404
**Filing Date:** 2026-3
**Character Count:** 17983
**Document Hash:** 3e7357853a5bb140b619e4ebae7df48a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-007404.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000894189-26-007404

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Grayscale Funds Trust
- **CENTRAL INDEX KEY:** 0001976672

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23876
- **FILM NUMBER:** 26706650

**BUSINESS ADDRESS:**
- **STREET 1:** 290 HARBOR DRIVE, 4TH FLOOR
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** 1-212-668-1427

**MAIL ADDRESS:**
- **STREET 1:** 290 HARBOR DRIVE, 4TH FLOOR
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

## Series and Classes Contracts Data

### Grayscale Bitcoin Adopters ETF (Series ID: S000091689)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000259407 | Grayscale Bitcoin Adopters ETF | BCOR            |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Grayscale Funds Trust

- **b. Investment Company Act file number:** 811-23876

- **c. CIK number of Registrant:** 0001976672

- **d. LEI of Registrant:** 529900BDKAD1PSUGAR56

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 290 HARBOR DRIVE

  - **City:** STAMFORD

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 06902

  - **Telephone number:** 1-212-668-1427

**Item A.2. Information about the Series.**

- **a. Name of Series:** Grayscale Bitcoin Adopters ETF

- **b. EDGAR series identifier (if any):** S000091689

- **c. LEI of Series:** 529900GJB9534SUEZW56

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $3429295.14

**Total Liabilities:** $121203.49

**Net Assets:** $3308091.65

**Delayed Delivery Securities:** $13502.00

**Cash Not Reported:** $539.17

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259407 | -3.74%               | -16.13%              | -6.65%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $244917.21               | $-415098.07                                |
| Month 2  | $14.23                   | $-702071.32                                |
| Month 3  | $-21413.09               | $-220796.80                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alliance Resource Partners LP  | Alliance Resource Partners LP              | CUSIP: 01877R108<br>LEI: 529900T4Q5UPWOUFG783 | Long             | EC               | CORP              | US        |      1949 | NS      | $45275.27     | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Bitfarms Ltd/Canada            | Bitfarms Ltd/Canada                        | CUSIP: 09173B107<br>LEI: 254900YWMA64Y1RPNJ12 | Long             | EC               | CORP              | CA        |      2181 | NS      | $5125.35      | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bitcoin Depot Inc              | Bitcoin Depot Inc                          | CUSIP: 09174P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2459 | NS      | $3172.11      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BitMine Immersion Technologies | BitMine Immersion Technologies Inc         | CUSIP: 09175A206<br>LEI: 254900TGJJ1D9JNAQT27 | Long             | EC               | CORP              | US        |       122 | NS      | $3312.30      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Canaan Inc                     | Canaan Inc                                 | CUSIP: 134748102<br>LEI: 254900OEOGK9ALNMUN24 | Long             | EC               | CORP              | SG        |     23114 | NS      | $15948.66     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Mining Inc              | Cipher Mining Inc                          | CUSIP: 17253J106<br>LEI: 254900QABG5HCQZ28A17 | Long             | EC               | CORP              | US        |       749 | NS      | $11055.24     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleanspark Inc                 | Cleanspark Inc                             | CUSIP: 18452B209<br>LEI: 254900VO7KBRJQDGY810 | Long             | EC               | CORP              | US        |      6698 | NS      | $67783.76     | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Exodus Movement Inc            | Exodus Movement Inc                        | CUSIP: 30209R106<br>LEI: 984500E614L4114D9667 | Long             | EC               | CORP              | US        |       317 | NS      | $4688.43      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     92942 | NS      | $92941.95     | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| GameStop Corp                  | GameStop Corp                              | CUSIP: 36467W109<br>LEI: 549300505KLOET039L77 | Long             | EC               | CORP              | US        |      7498 | NS      | $150559.84    | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hive Digital Technologies Ltd  | Hive Digital Technologies Ltd              | CUSIP: 433921103<br>LEI: 5493004QCZ1QBI9FS784 | Long             | EC               | CORP              | CA        |      1753 | NS      | $4522.74      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hut 8 Corp                     | Hut 8 Corp                                 | CUSIP: 44812J104<br>LEI: 98450066FEF9C1D3FC20 | Long             | EC               | CORP              | US        |      1934 | NS      | $88847.96     | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kindly MD Inc                  | Kindly MD Inc                              | CUSIP: 49457M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     82304 | NS      | $28896.93     | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MARA Holdings Inc              | MARA Holdings Inc                          | CUSIP: 565788106<br>LEI: 549300M8ISKPTX2W7F94 | Long             | EC               | CORP              | US        |      6079 | NS      | $54589.42     | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                           | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |        82 | NS      | $165169.32    | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Riot Platforms Inc             | Riot Platforms Inc                         | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |      6375 | NS      | $80771.25     | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Rumble Inc                     | Rumble Inc                                 | CUSIP: 78137L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1265 | NS      | $7994.80      | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Semler Scientific Inc          | Semler Scientific Inc                      | CUSIP: 81684M104<br>LEI: 549300ZHL16S29QTW485 | Long             | EC               | CORP              | US        |      2639 | NS      | $40350.31     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Block Inc                      | Block Inc                                  | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      2594 | NS      | $168843.46    | 5.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Virtu Financial Inc            | Virtu Financial Inc                        | CUSIP: 928254101<br>LEI: 5493001OPW2K42CH3884 | Long             | EC               | CORP              | US        |      1323 | NS      | $44082.36     | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Empery Digital Inc             | Empery Digital Inc                         | CUSIP: 92864V608<br>LEI: 254900YNQ643TK62S464 | Long             | EC               | CORP              | US        |      7618 | NS      | $34776.17     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Next Technology Holding Inc    | Next Technology Holding Inc                | CUSIP: 961884301<br>LEI: 529900KMKRM7VE8RY236 | Long             | EC               | CORP              | CN        |       552 | NS      | $3328.56      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Aker ASA                       | Aker ASA                                   | CUSIP: N/A<br>LEI: 5967007LIEEXZXJ10071       | Long             | EC               | CORP              | NO        |       214 | NS      | $16293.69     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Metaplanet Inc                 | Metaplanet Inc                             | CUSIP: N/A<br>LEI: 3538006DGBY53D3UEV95       | Long             | EC               | CORP              | JP        |     53300 | NS      | $137717.31    | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NET Holding AS                 | NET Holding AS                             | CUSIP: N/A<br>LEI: 789000XITVOL7BUS2730       | Long             | EC               | CORP              | TR        |      6099 | NS      | $6879.19      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Remixpoint Inc                 | Remixpoint Inc                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      4100 | NS      | $6591.60      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital B                      | Capital B                                  | CUSIP: N/A<br>LEI: 969500EFNNFB2DRUC163       | Long             | EC               | CORP              | FR        |     21876 | NS      | $19346.33     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Wemade Co Ltd                  | Wemade Co Ltd                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |       407 | NS      | $7049.15      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexon Co Ltd                   | Nexon Co Ltd                               | CUSIP: N/A<br>LEI: 5299005SFO0GAJFLKN43       | Long             | EC               | CORP              | JP        |      6500 | NS      | $158700.44    | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BOYAA                          | Boyaa Interactive International Ltd        | CUSIP: N/A<br>LEI: 529900S38ZOYWV30WR67       | Long             | EC               | CORP              | CN        |     66000 | NS      | $28999.81     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Phoenix Group PLC              | Phoenix Group PLC                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | AE        |     17192 | NS      | $4657.37      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Digital Inc             | Galaxy Digital Inc                         | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |      5952 | NS      | $133434.22    | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bitdeer Technologies Group     | Bitdeer Technologies Group                 | CUSIP: N/A<br>LEI: 2549007M2KGWVJ9XFP20       | Long             | EC               | CORP              | SG        |       373 | NS      | $4181.33      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Bit Digital Inc                | Bit Digital Inc                            | CUSIP: N/A<br>LEI: 2549005XLPRWS7HWCM31       | Long             | EC               | CORP              | US        |      2132 | NS      | $4029.48      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BitFuFu Inc                    | BitFuFu Inc                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |      1691 | NS      | $4464.24      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cango Inc/KY                   | Cango Inc/KY                               | CUSIP: N/A<br>LEI: 5299003TQHBB4QUSZB86       | Long             | EC               | CORP              | CN        |      3452 | NS      | $5178.00      | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| Coinbase Global Inc            | Coinbase Global Inc                        | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |       605 | NS      | $136814.70    | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc            | Core Scientific Inc                        | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |       891 | NS      | $12972.96     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Trump Media & Technology Group | Trump Media & Technology Group Corp        | CUSIP: 25400Q105<br>LEI: 6488S3A83U2SRQ48O215 | Long             | EC               | CORP              | US        |     11409 | NS      | $151055.16    | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| USBC Inc                       | USBC Inc                                   | CUSIP: 499238202<br>LEI: 549300D3FV73JB135D45 | Long             | EC               | CORP              | US        |      9753 | NS      | $6191.20      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc                   | Strategy Inc                               | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |      2657 | NS      | $403731.15    | 12.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      2056 | NS      | $924624.32    | 27.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Convano Inc                    | Convano Inc                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |      9500 | NS      | $6788.10      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinshares International Ltd   | Coinshares International Ltd               | CUSIP: N/A<br>LEI: 549300OUFYN9P5VF9D79       | Long             | EC               | CORP              | JE        |       546 | NS      | $6870.31      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Grayscale Funds Trust

**Signature:** /s/ Allison Roberts

**Name of Signer:** Allison Roberts

**Title:** Chief Compliance Officer