Grayscale Bitcoin Mini Trust (BTC) Q2 2024 Update

TL;DR

**BTC Trust declares dividends in July 2024, check Q2 2024 financials.**

AI Summary

Grayscale Bitcoin Mini Trust (BTC) filed its 10-Q for the period ending June 30, 2024. The filing details its financial position and operational updates. A key event noted is the declaration of dividends on July 19, 2024, and July 30, 2024, with the trust's fiscal year ending on December 31.

Why It Matters

This filing provides insight into the financial health and recent activities of the Grayscale Bitcoin Mini Trust, which is relevant for investors tracking their exposure to Bitcoin.

Risk Assessment

Risk Level: medium — The trust's value is directly tied to Bitcoin's price, which is highly volatile, and it is subject to regulatory changes.

Key Players & Entities

• Grayscale Bitcoin Mini Trust (BTC) (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of reporting period
• 2024-08-30 (date) — Filing date
• 2024-07-19 (date) — Dividend declaration date
• 2024-07-30 (date) — Dividend declaration date
• Grayscale Investments, LLC (company) — Sponsor and administrator

FAQ

Filing Documents

• btc-20240630.htm (10-Q) — 346KB
• btc-ex31_1.htm (EX-31.1) — 20KB
• btc-ex31_2.htm (EX-31.2) — 20KB
• btc-ex32_1.htm (EX-32.1) — 7KB
• btc-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-102091.txt ( ) — 1455KB
• btc-20240630.xsd (EX-101.SCH) — 266KB
• btc-20240630_htm.xml (XML) — 86KB

Forward-Looking Statements

Forward-Looking Statements 3 Industry and Market Data 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 4 5 6 Notes to the Unaudited Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 13 Item 4.

Controls and Procedures

Controls and Procedures 13

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 14 Item 1A.

Risk Factors

Risk Factors 14 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 14 Item 4. Mine Safety Disclosures 14 Item 5. Other Information 14 Item 6. Exhibits 15 GLOSSARY OF DEFINED TERMS 16

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" with respect to the financial conditions, results of operations, plans, objectives, future performance and business of Grayscale Bitcoin Mini Trust (BTC) (the "Trust"). Statements preceded by, followed by or that include words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," or "continue," the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, the Trust's operations, the plans of Grayscale Investments, LLC (the "Sponsor") and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses the Sponsor made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to, those described in "Risk Factors" of our Registration Statement on Form S-1, filed with the Securities and Exchange Commission (the "SEC") on July 30, 2024 (the "Registration Statement") and in "Part II, Item 1A. Risk Factors" herein. Forward-looking statements are made based on the Sponsor's beliefs, estimates and opinions on the date the statements are made and neither the Trust nor the Sponsor is under a duty or undertakes an oblig

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION: Item1. Financial Statements (Unaudited) GRAYSCALE BITCOIN MINI TRUST (BTC) June 30, 2024 Assets: Cash $ 100,000 Total assets $ 100,000 Liabilities: Total liabilities - Net assets $ 100,000 Shares issued and outstanding, no par value (unlimited Shares authorized) 10,000 Net asset value per Share $ 10.00 See accompanying notes to the unaudited financial statements. 4 GRAYSCALE BITCOIN MINI TRUST (BTC) For the Period from April 29, 2024 (Date of Seeding) to June 30, 2024 Increase (decrease) in net assets from operations: Net investment loss $ - Net realized gain (loss) on investment in Bitcoin sold to pay expenses - Net realized gain (loss) on investment in Bitcoin sold for redemption of Shares - Net change in unrealized appreciation (depreciation) on investment in Bitcoin - Net increase (decrease) in net assets resulting from operations - Increase (decrease) in net assets from capital share transactions: Shares issued 100,000 Shares redeemed - Net increase (decrease) in net assets resulting from capital share transactions 100,000 Total increase (decrease) in net assets from operations and capital share transactions 100,000 Net assets: Beginning of period - End of period $ 100,000 Change in Shares outstanding: Shares outstanding at beginning of period - Shares issued 10,000 Shares redeemed - Net increase in Shares 10,000 Shares outstanding at end of period 10,000 See accompanying notes to the unaudited financial statements. 5 GRAYSCALE BITCOIN MINI TRUST (BTC) For the Period from April 29, 2024 (Date of Seeding) to June 30, 2024 Cash provided by (used in) operating activities Net increase (decrease) in net assets resulting from operations $ - Net cash provided b

View Full Filing

View this 10-Q filing on SEC EDGAR