Grayscale Bitcoin Trust Files 2023 10-K
Ticker: GBTC · Form: 10-K · Filed: 2024-02-23T00:00:00.000Z
Sentiment: neutral
Topics: earnings, crypto, trust, bitcoin
Related Tickers: BTC
TL;DR
**Grayscale Bitcoin Trust just dropped its 2023 10-K, giving us the full financial picture for their massive Bitcoin holdings.**
AI Summary
Grayscale Bitcoin Trust (BTC) filed its 10-K on February 23, 2024, for the fiscal year ending December 31, 2023. The filing details its financial position, including investments in Bitcoin, and its operational structure as a trust. Key financial data points for 2023 and 2022 are included, along with fair value measurements of its Bitcoin holdings.
Why It Matters
This filing provides transparency into the financial health and operational risks of one of the largest Bitcoin investment vehicles, impacting investors' understanding of their exposure to the cryptocurrency market.
Risk Assessment
Risk Level: medium — The trust's value is directly tied to the volatile price of Bitcoin, and it faces regulatory and operational risks inherent in the cryptocurrency market.
Key Numbers
- 2023-12-31 — Fiscal Year End (The period covered by this 10-K filing.)
- 001-41906 — SEC File Number (Unique identifier for the trust's SEC filings.)
- 0001588489 — Central Index Key (CIK) (Unique identifier for Grayscale Bitcoin Trust (BTC) with the SEC.)
- 2024-02-23 — Filed As Of Date (The date the 10-K was officially filed with the SEC.)
- 6221 — Standard Industrial Classification (SIC) (Industry code for 'Security and Commodity Brokers, Dealers, Exchanges, and Services'.)
Key Players & Entities
- Grayscale Bitcoin Trust (BTC) (company) — filer of the 10-K
- Bitcoin Investment Trust (company) — former name of Grayscale Bitcoin Trust
- Coinbase Inc. (company) — custodian or related party
- December 31, 2023 (date) — end of the reporting period
- February 23, 2024 (date) — filing date of the 10-K
- 290 Harbor Drive, 4th Floor, Stamford, CT 06902 (address) — business and mail address
FAQ
What was the former name of Grayscale Bitcoin Trust (BTC) and when did the name change occur?
The former name of Grayscale Bitcoin Trust (BTC) was Bitcoin Investment Trust, and the name change occurred on October 4, 2013.
What is the fiscal year end for Grayscale Bitcoin Trust (BTC) as reported in this 10-K?
The fiscal year end for Grayscale Bitcoin Trust (BTC) is December 31, as indicated by the 'CONFORMED PERIOD OF REPORT: 20231231' and 'FISCAL YEAR END: 1231'.
When was this 10-K filing submitted to the SEC?
This 10-K filing was submitted to the SEC on February 23, 2024, as indicated by 'FILED AS OF DATE: 20240223'.
What is the business address of Grayscale Bitcoin Trust (BTC)?
The business address of Grayscale Bitcoin Trust (BTC) is 290 Harbor Drive, 4th Floor, Stamford, CT 06902.
Which entity is mentioned in relation to 'InvestmentInBitcoin' and 'RelatedParty' for the period ending December 31, 2022 and 2023?
Coinbase Inc. (gbtc:CoinbaseIncMe) is mentioned in relation to 'InvestmentInBitcoinMember' and 'RelatedPartyMember' for the periods ending December 31, 2022 and 2023.
From the Filing
0001193125-24-043678.txt : 20240223 0001193125-24-043678.hdr.sgml : 20240223 20240223091114 ACCESSION NUMBER: 0001193125-24-043678 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 59 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240223 DATE AS OF CHANGE: 20240223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Grayscale Bitcoin Trust (BTC) CENTRAL INDEX KEY: 0001588489 STANDARD INDUSTRIAL CLASSIFICATION: [6221] ORGANIZATION NAME: 09 Crypto Assets IRS NUMBER: 467019388 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41906 FILM NUMBER: 24667386 BUSINESS ADDRESS: STREET 1: 290 HARBOR DRIVE STREET 2: 4TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 BUSINESS PHONE: 212-668-1427 MAIL ADDRESS: STREET 1: 290 HARBOR DRIVE STREET 2: 4TH FLOOR CITY: STAMFORD STATE: CT ZIP: 06902 FORMER COMPANY: FORMER CONFORMED NAME: Bitcoin Investment Trust DATE OF NAME CHANGE: 20131004 10-K 1 d736998d10k.htm 10-K 10-K Table of Contents false FY 0001588489 0001588489 2023-01-01 2023-12-31 0001588489 2022-12-31 0001588489 2023-12-31 0001588489 2021-12-31 0001588489 2021-01-01 2021-12-31 0001588489 2022-01-01 2022-12-31 0001588489 2023-10-01 2023-12-31 0001588489 2023-07-01 2023-09-30 0001588489 2023-04-01 2023-06-30 0001588489 2023-01-01 2023-03-31 0001588489 2022-10-01 2022-12-31 0001588489 2022-01-01 2022-03-31 0001588489 2022-04-01 2022-06-30 0001588489 2022-07-01 2022-09-30 0001588489 2023-06-30 0001588489 2024-02-19 0001588489 2020-12-31 0001588489 us-gaap:FairValueInputsLevel3Member 2022-12-31 0001588489 us-gaap:FairValueInputsLevel2Member 2022-12-31 0001588489 us-gaap:FairValueInputsLevel1Member 2022-12-31 0001588489 gbtc:InvestmentInBitcoinMember 2022-12-31 0001588489 us-gaap:RelatedPartyMember 2022-12-31 0001588489 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001588489 us-gaap:FairValueInputsLevel3Member 2023-12-31 0001588489 us-gaap:FairValueInputsLevel2Member 2023-12-31 0001588489 gbtc:CoinbaseIncMember gbtc:SponsorParentMember 2023-12-31 0001588489 gbtc:InvestmentInBitcoinMember 2023-12-31 0001588489 us-gaap:RelatedPartyMember 2023-12-31 0001588489 srt:MaximumMember 2023-12-31 0001588489 srt:MaximumMember gbtc:DCGMember 2023-12-31 0001588489 gbtc:DCGMember 2023-12-31 0001588489 us-gaap:RelatedPartyMember 2021-01-01 2021-12-31 0001588489 us-gaap:RelatedPartyMember 2022-01-01 2022-12-31 0001588489 gbtc:SponsorMember 2023-01-01 2023-12-31 0001588489 gbtc:NonSponsorPaidExpensesMember 2023-01-01 2023-12-31 0001588489 us-gaap:RelatedPartyMember 2023-01-01 2023-12-31 0001588489 srt:MaximumMember 2021-03-10 0001588489 srt:MaximumMember gbtc:DCGMember 2021-04-30 0001588489 srt:MaximumMember 2021-10-20 0001588489 srt:MaximumMember gbtc:DCGMember 2021-10-20 0001588489 gbtc:DCGMember 2021-10-20 0001588489 srt:MaximumMember gbtc:DCGMember 2022-03-02 0001588489 gbtc:DCGMember 2022-03-02 0001588489 us-gaap:SubsequentEventMember 2024-02-19 0001588489 gbtc:SponsorMember us-gaap:SubsequentEventMember 2024-01-10 2024-01-10 0001588489 gbtc:AmendmentNumberOneMember gbtc:SponsorMember us-gaap:SubsequentEventMember 2024-01-11 2024-01-11 0001588489 gbtc:SponsorMember us-gaap:SubsequentEventMember 2024-01-08 2024-01-08 iso4217:USD xbrli:shares xbrli:pure gbtc:NUMBER gbtc:BITCOIN iso4217:USD xbrli:shares gbtc:Bitcoin     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 10-K       ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2023 or   ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from       to       Commission File Number 001-41906     Grayscale Bitcoin Trust (BTC) SPONSORED BY GRAYSCALE INVESTMENTS, LLC (Exact Name of Registrant as Specified in Its Charter)       Delaw