Grayscale Bitcoin Mini Trust ETF

Previous wording

Financial Highlights for the Three Months Ended March 31, 2026 and 2025

Current wording

Financial Highlights for the Three and Six Months Ended June 30, 2026 and 2025

Previous wording

Net realized and unrealized loss on investment in Bitcoin for the three months ended March 31, 2026 was ($971,458), which includes a realized loss of ($75) on the transfer of Bitcoin to pay the Sponsor’s Fee, a realized loss of ($15,323) on the sale of Bitcoin to meet redemptions, and net change in unrealized appreciation/depreciation on investment in Bitcoin of ($956,060). Net realized and unrealized loss on investment in Bitcoin for the period was driven by Bitcoin price depreciation from $87,549.41 per Bitcoin as of December 31, 2025, to $67,805.29 per Bitcoin as of March 31, 2026. Net decrease in net assets resulting from operations was ($972,865) for the three months ended March 31, 2026, which consisted of the net realized and unrealized loss on investment in Bitcoin, plus the Sponsor’s Fee of $1,407. Net assets decreased to $3,503,705 at March 31, 2026, a 17% decrease for the three-month period. The decrease in net assets resulted from the aforementioned Bitcoin price depreciation, the redemption of approximately 2,774 Bitcoin with a value of $208,679 from the Trust, and the withdrawal of approximately 18 Bitcoin to pay the foregoing Sponsor’s Fee, partially offset by the contribution of approximately 5,991 Bitcoin with a value of $441,297 to the Trust in connection with Share creations during the period.

Current wording

Net realized and unrealized loss on investment in Bitcoin for the three months ended June 30, 2026 was ($495,211), which includes a realized loss of ($159) on the transfer of Bitcoin to pay the Sponsor’s Fee, a realized loss of ($20,193) on the sale of Bitcoin to meet redemptions, and net change in unrealized appreciation/depreciation on investment in Bitcoin of ($474,859). Net realized and unrealized loss on investment in Bitcoin for the period was driven by Bitcoin price depreciation from $67,805.29 per Bitcoin as of March 31, 2026, to $58,745.18 per Bitcoin as of June 30, 2026. Net decrease in net assets resulting from operations was ($496,630) for the three months ended June 30, 2026, which consisted of the net realized and unrealized loss on investment in Bitcoin, plus the Sponsor’s Fee of $1,419. Net assets decreased to $3,188,712 at June 30, 2026, a 9% decrease for the three-month period. The decrease in net assets resulted from the aforementioned Bitcoin price depreciation, the redemption of approximately 1,535 Bitcoin with a value of $101,777 from the Trust, and the withdrawal of approximately 20 Bitcoin to pay the foregoing Sponsor’s Fee, partially offset by the contribution of approximately 4,162 Bitcoin with a value of $283,414 to the Trust in connection with Share creations during the period.

Previous wording

Net realized and unrealized loss on investment in Bitcoin for the three months ended March 31, 2025 was ($490,714), which includes a realized gain of $302 on the transfer of Bitcoin to pay the Sponsor’s Fee, a realized gain of $33,734 on the sale of Bitcoin to meet redemptions, and net change in unrealized appreciation/depreciation on investment in Bitcoin of ($524,750). Net realized and unrealized loss on investment in Bitcoin for the period was driven by Bitcoin price depreciation from $93,390.22 per Bitcoin as of December 31, 2024, to $82,443.85 per Bitcoin as of March 31, 2025. Net decrease in net assets resulting from operations was ($492,112) for the three months ended March 31, 2025, which consisted of the net realized and unrealized loss on investment in Bitcoin, plus the Sponsor’s Fee of $1,398. Net assets decreased to $3,346,810 at March 31, 2025, a 6% decrease for the three-month period. The decrease in net assets resulted from the aforementioned Bitcoin price depreciation, the redemption of approximately 2,437 Bitcoin with a value of $212,091 from the Trust, and the withdrawal of approximately 15 Bitcoin to pay the foregoing Sponsor’s Fee, partially offset by the contribution of approximately 5,034 Bitcoin with a value of $500,979 to the Trust in connection with Share creations during the period.

Current wording

Net realized and unrealized loss on investment in Bitcoin for the six months ended June 30, 2026 was ($1,466,669), which includes a realized loss of ($234) on the transfer of Bitcoin to pay the Sponsor’s Fee, a realized loss of ($35,516) on the sale of Bitcoin to meet redemptions, and net change in unrealized appreciation/depreciation on investment in Bitcoin of ($1,430,919). Net realized and unrealized loss on investment in Bitcoin for the period was driven by Bitcoin price depreciation from $87,549.41 per Bitcoin as of December 31, 2025, to $58,745.18 per Bitcoin as of June 30, 2026. Net decrease in net assets resulting from operations was ($1,469,495) for the six months ended June 30, 2026, which consisted of the net realized and unrealized loss on investment in Bitcoin, plus the Sponsor’s Fee of $2,826. Net assets decreased to $3,188,712 at June 30, 2026, a 25% decrease for the six-month period. The decrease in net assets resulted from the aforementioned Bitcoin price depreciation, the redemption of approximately 4,309 Bitcoin with a value of $310,456 from the Trust, and the withdrawal of approximately 38 Bitcoin to pay the foregoing Sponsor’s Fee, partially offset by the contribution of approximately 10,153 Bitcoin with a value of $724,711 to the Trust in connection with Share creations during the period.

Previous wording

The Trust’s NAV and NAV per Share are derived from the Index Price as represented by the Index as of 4:00 p.m., New York time, on the valuation date. The Trust’s NAV per Share is calculated using a non-GAAP methodology where the price is derived from multiple Digital Asset Trading Platforms. The Digital Asset Trading Platforms included in the Index (the “Constituent Trading Platforms”) as of both March 31, 2026 and 2025 were Coinbase, Bitstamp by Robinhood, Kraken, LMAX Digital, Crypto.com, and Bullish. The Digital Asset Trading Platforms included in the Index as of April 30, 2026 were Binance, Bitstamp by Robinhood, Bullish, Bybit, Crypto.com, GATE, Gemini, Hashkey, Kraken, LMAX Digital, and OKX. See “Item 1. Business—Overview of the Bitcoin Industry and Market—Bitcoin Value—The Index and the Index Price” in our Annual Report for a description of the Index and the Index Price.

Current wording

The Trust’s NAV and NAV per Share are derived from the Index Price as represented by the Index as of 4:00 p.m., New York time, on the valuation date. The Trust’s NAV per Share is calculated using a non-GAAP methodology where the price is derived from multiple Digital Asset Trading Platforms. The Digital Asset Trading Platforms included in the Index (the “Constituent Trading Platforms”) as of June 30, 2026 were Binance, Bitstamp by Robinhood, Bullish, Bybit, Crypto.com, Gate, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL. The Digital Asset Trading Platforms included in the Index as of June 30, 2025 were Coinbase, Bitstamp by Robinhood, Kraken, LMAX Digital, Crypto.com, Bullish, and Bitfinex. See “Item 1. Business—Overview of the Bitcoin Industry and Market—Bitcoin Value—The Index and the Index Price” in our Annual Report for a description of the Index and the Index Price.