# EDGAR Filing Document

**Accession Number:** 0001976672
**File Stem:** 0001145549-25-056078
**Filing Date:** 2025-8
**Character Count:** 4845
**Document Hash:** 442adeb035bd3e8be338211892f196fb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-056078.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001145549-25-056078

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**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:** 251274374

**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 Covered Call ETF (Series ID: S000084446)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000248829 | Grayscale Bitcoin Covered Call ETF | BTCC            |

## 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 Covered Call ETF

- **b. EDGAR series identifier (if any):** S000084446

- **c. LEI of Series:** 529900H4FSHA6SDCOZ25

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $7823012.50

**Total Liabilities:** $3648.00

**Net Assets:** $7819364.50

**Amount of Assets Invested in Other Investment Companies:** $4482103.99

**Cash Not Reported:** $3207663.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248829 | 7.08%                | 2.63%                | 4.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1.42                    | $21.93                                     |
| Month 2  | $0.00                    | $396.37                                    |
| Month 3  | $198.67                  | $-418.30                                   |

**Designated Index Information**

- **Index Name:** Cboe GMTC ATM BuyWrite Index

- **Index Identifier:** BXGBTCA

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   3339115 | NS      | $3339115.41   | 42.70%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Grayscale Bitcoin Trust ETF                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -604 | NC      | $-114760.00   | -1.47%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Grayscale Bitcoin Trust ETF                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       604 | NC      | $1389200.00   | 17.77%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-28

**Name of Applicant:** Grayscale Funds Trust

**Signature:** /s/ Susan Lively

**Name of Signer:** Susan Lively

**Title:** President