Grayscale Bitcoin Mini Trust ETF

For the period ended Mar 31, 2025. Filed May 2, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 2, 2025

BTC$33.05-1.3%Stored close · as of Nov 9, 2026

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Contents

Statement of Changes in Net Assets for the

STATEMENT OF CHANGES IN NET ASSETS (UNAUDITED)

(Amounts in thousands, except change in Shares outstanding)

	Three Months Ended March 31, 2025(1)
Decrease in net assets from operations:
Net investment loss	$(1,398)
Net realized gain on investment in Bitcoin sold to pay expenses	302
Net realized gain on investment in Bitcoin sold for redemption of Shares	33,734
Net change in unrealized appreciation on investment in Bitcoin	(524,750)
Net decrease in net assets resulting from operations	(492,112)
Increase in net assets from capital share transactions:
Shares issued	500,979
Shares redeemed	(212,091)
Net increase in net assets resulting from capital share transactions	288,888
Total decrease in net assets from operations and capital share transactions	(203,224)
Net assets:
Beginning of period	3,550,034
End of period	$3,346,810
Change in Shares outstanding:
Shares outstanding at beginning of period	85,769,963
Shares issued	11,360,000
Shares redeemed	(5,500,000)
Net increase in Shares	5,860,000
Shares outstanding at end of period	91,629,963

(1)

No comparative financial statements have been provided as the Trust’s operations commenced on July 31, 2024. Prior to the commencement of operations on July 31, 2024, the Sponsor redeemed the initial seed capital of 10,000 shares for $100,000.

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