Grayscale Bitcoin Trust (BTC) Files Q1 2024 10-Q

Ticker: GBTC · Form: 10-Q · Filed: 2024-05-03T00:00:00.000Z

Sentiment: neutral

Topics: bitcoin, trust, 10-q, cryptocurrency

Related Tickers: GBTC

TL;DR

**GBTC Q1 10-Q filed: Shows Bitcoin holdings & financial status. All clear.**

AI Summary

Grayscale Bitcoin Trust (BTC) filed its 10-Q for the period ending March 31, 2024. The filing details the trust's financial position and operations related to its investment in Bitcoin. Key financial data and disclosures regarding fair value inputs and related party transactions are presented for the reporting period and comparative periods.

Why It Matters

This filing provides crucial insights into the financial health and Bitcoin holdings of a major digital asset trust, impacting investor confidence and market perception.

Risk Assessment

Risk Level: medium — The value of Grayscale Bitcoin Trust is directly tied to the volatile price of Bitcoin, introducing significant market risk.

Key Numbers

2024-03-31 — Reporting Period End Date (The end of the fiscal quarter for which the report is filed.)
2023-12-31 — Prior Year End Date (Provides a comparative financial snapshot from the previous year.)
2023-03-31 — Prior Year Period End Date (Offers year-over-year comparison for the same quarterly period.)

Key Players & Entities

Grayscale Bitcoin Trust (BTC) (company) — Filer of the 10-Q
Bitcoin (company) — Underlying asset of the trust
Coinbase Inc. (company) — Sponsor Parent

FAQ

What was the total value of Grayscale Bitcoin Trust's investment in Bitcoin as of March 31, 2024?

The filing indicates 'gbtc:InvestmentInBitcoinMember' for 2024-03-31, but the specific dollar amount is not provided in this excerpt.

Who is listed as the Sponsor Parent for Grayscale Bitcoin Trust?

Coinbase Inc. is identified as the 'gbtc:SponsorParentMember' as of March 31, 2024.

What are the different fair value input levels disclosed for the trust's assets?

The filing mentions 'us-gaap:FairValueInputsLevel1Member', 'us-gaap:FairValueInputsLevel2Member', and 'us-gaap:FairValueInputsLevel3Member' for both December 31, 2023, and March 31, 2024.

Does the filing mention any liabilities for Grayscale Bitcoin Trust?

Yes, 'gbtc:LiabilitiesMember' is listed for the period ending March 31, 2024.

What is the primary business activity of Grayscale Bitcoin Trust?

The trust's primary activity is its 'gbtc:InvestmentInBitcoinMember', as indicated by the filing.

From the Filing

0001193125-24-130893.txt : 20240503 0001193125-24-130893.hdr.sgml : 20240503 20240503172121 ACCESSION NUMBER: 0001193125-24-130893 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 58 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240503 DATE AS OF CHANGE: 20240503 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-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-41906 FILM NUMBER: 24914494 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-Q 1 d817613d10q.htm 10-Q 10-Q Table of Contents false Q1 --12-31 0001588489 0001588489 2024-01-01 2024-03-31 0001588489 2024-03-31 0001588489 2023-12-31 0001588489 2023-01-01 2023-12-31 0001588489 2023-01-01 2023-03-31 0001588489 2024-04-30 0001588489 2024-01-11 2024-01-11 0001588489 2023-03-31 0001588489 2024-01-09 2024-01-09 0001588489 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:InvestmentInBitcoinMember 2023-12-31 0001588489 us-gaap:RelatedPartyMember 2023-12-31 0001588489 us-gaap:FairValueInputsLevel3Member 2024-03-31 0001588489 us-gaap:FairValueInputsLevel1Member 2024-03-31 0001588489 us-gaap:FairValueInputsLevel2Member 2024-03-31 0001588489 gbtc:CoinbaseIncMember gbtc:SponsorParentMember 2024-03-31 0001588489 gbtc:InvestmentInBitcoinMember 2024-03-31 0001588489 gbtc:LiabilitiesMember 2024-03-31 0001588489 gbtc:InvestmentMember 2024-03-31 0001588489 us-gaap:RelatedPartyMember 2024-03-31 0001588489 srt:MaximumMember 2024-03-31 0001588489 gbtc:DCGMember 2024-03-31 0001588489 srt:MaximumMember gbtc:DCGMember 2024-03-31 0001588489 us-gaap:CommoditiesInvestmentMember 2024-03-31 0001588489 us-gaap:RelatedPartyMember 2023-01-01 2023-03-31 0001588489 gbtc:NonSponsorPaidExpensesMember 2024-01-01 2024-03-31 0001588489 gbtc:SponsorMember 2024-01-01 2024-03-31 0001588489 us-gaap:RelatedPartyMember 2024-01-01 2024-03-31 0001588489 srt:MaximumMember 2021-03-10 0001588489 srt:MaximumMember gbtc:DCGMember 2021-04-30 0001588489 gbtc:DCGMember 2021-10-20 0001588489 srt:MaximumMember gbtc:DCGMember 2021-10-20 0001588489 srt:MaximumMember 2021-10-20 0001588489 gbtc:DCGMember 2022-03-02 0001588489 srt:MaximumMember gbtc:DCGMember 2022-03-02 0001588489 srt:MinimumMember 2024-01-09 2024-01-09 0001588489 srt:MaximumMember 2024-01-09 2024-01-09 0001588489 us-gaap:SubsequentEventMember 2024-04-30 iso4217:USD xbrli:pure xbrli:shares gbtc:BITCOIN iso4217:USD xbrli:shares gbtc:NUMBER gbtc:Bitcoin     UNITED STATES SECURITIES AND EXCHANGE COM MISS ION Washington, D.C. 20549     FORM 10-Q       ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIE S EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 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)       Delaware   46-7019388 (State or Other Jurisdiction of Incorporation or Organization)   (I.R.S. Employer Identification No.) c/o Grayscale Investments, LLC 290 Harbor Drive, 4 th Floor Stamford , Connecticut 06902 (Address of Principal Executive Offices) (Zip Code) ( 212 ) 668-1427 (Registrant’s telephone number, including