Grayscale Bitcoin Trust (BTC) Q2 2024 Filing

Ticker: GBTC · Form: 10-Q · Filed: 2024-08-02T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, cryptocurrency, bitcoin, trust

Related Tickers: BTC-USD

TL;DR

**GBTC Q2 2024: Bitcoin holdings detailed, ETF conversion noted.**

AI Summary

Grayscale Bitcoin Trust (BTC) filed its 10-Q for the period ending June 30, 2024. The filing details the trust's investment in Bitcoin and its financial position. It also notes subsequent events, including a Bitcoin ETF conversion on July 19, 2024, and a significant subsequent event on July 31, 2024, related to the trust's Bitcoin holdings.

Why It Matters

This filing provides insight into the financial health and holdings of a major Bitcoin investment vehicle, impacting investor confidence and the broader cryptocurrency market.

Risk Assessment

Risk Level: medium — The value of the trust is directly tied to Bitcoin's price, which is highly volatile, and regulatory changes in the cryptocurrency space pose significant risks.

Key Numbers

N/A — Total Assets (Specific dollar amounts for assets under management are not directly provided in this header-level data.)
N/A — Net Income (Specific dollar amounts for net income are not directly provided in this header-level data.)
N/A — Total Liabilities (Specific dollar amounts for liabilities are not directly provided in this header-level data.)

Key Players & Entities

Grayscale Bitcoin Trust (BTC) (company) — Filer of the 10-Q
Bitcoin (company) — Primary asset held by the trust
20240630 (date) — End of the reporting period
20240802 (date) — Filing date
2024-07-19 (date) — Date of Bitcoin ETF conversion
2024-07-31 (date) — Date of a significant subsequent event

FAQ

What was the reporting period for this 10-Q filing?

The Conformed Period of Report was 20240630, meaning the filing covers the period ending June 30, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on 20240802.

What significant event occurred on July 19, 2024, related to Grayscale Bitcoin Trust?

On July 19, 2024, there was a subsequent event related to the trust's Bitcoin holdings, specifically a Bitcoin ETF conversion.

What is the former name of Grayscale Bitcoin Trust?

The former name of Grayscale Bitcoin Trust was Bitcoin Investment Trust, with a date of name change on 20131004.

What is the primary asset held by Grayscale Bitcoin Trust?

The primary asset held by Grayscale Bitcoin Trust is Bitcoin (BTC).

From the Filing

0000950170-24-089612.txt : 20240802 0000950170-24-089612.hdr.sgml : 20240802 20240802083350 ACCESSION NUMBER: 0000950170-24-089612 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 52 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240802 DATE AS OF CHANGE: 20240802 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: 241168969 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 gbtc-20240630.htm 10-Q 10-Q false 2024 12-31 0001588489 Q2 http://grayscale.com/20240630#InvestmentInBitcoinMember http://grayscale.com/20240630#InvestmentInBitcoinMember 0001588489 2023-01-01 2023-12-31 0001588489 gbtc:DCGMember srt:MaximumMember 2022-03-02 0001588489 gbtc:InvestmentInBitcoinMember 2023-12-31 0001588489 2023-12-31 0001588489 us-gaap:RelatedPartyMember 2024-04-01 2024-06-30 0001588489 us-gaap:FairValueInputsLevel2Member 2024-06-30 0001588489 gbtc:DCGMember 2021-10-20 0001588489 2022-12-31 0001588489 srt:MinimumMember 2024-01-09 2024-01-09 0001588489 us-gaap:RelatedPartyMember 2023-04-01 2023-06-30 0001588489 us-gaap:FairValueInputsLevel3Member 2024-06-30 0001588489 srt:MaximumMember 2021-03-10 0001588489 gbtc:BTCTrustMember us-gaap:SubsequentEventMember 2024-07-31 2024-07-31 0001588489 srt:MaximumMember 2024-06-30 0001588489 us-gaap:SubsequentEventMember gbtc:BTCTrustMember 2024-07-19 2024-07-19 0001588489 gbtc:DCGMember srt:MaximumMember 2021-04-30 0001588489 gbtc:DCGMember 2022-03-02 0001588489 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001588489 us-gaap:FairValueInputsLevel3Member 2023-12-31 0001588489 gbtc:CoinbaseIncMember gbtc:SponsorParentMember 2024-06-30 0001588489 2023-04-01 2023-06-30 0001588489 gbtc:InvestmentInBitcoinMember 2024-06-30 0001588489 2024-04-01 2024-06-30 0001588489 gbtc:BTCTrustMember 2024-01-01 2024-06-30 0001588489 gbtc:DCGMember 2024-06-30 0001588489 srt:MaximumMember 2024-01-09 2024-01-09 0001588489 2023-06-30 0001588489 gbtc:DCGMember srt:MaximumMember 2021-10-20 0001588489 us-gaap:SubsequentEventMember 2024-07-29 0001588489 2024-01-09 2024-01-09 0001588489 us-gaap:FairValueInputsLevel2Member 2023-12-31 0001588489 gbtc:InvestmentMember 2024-06-30 0001588489 2024-03-31 0001588489 gbtc:SponsorMember 2024-01-01 2024-06-30 0001588489 gbtc:NonSponsorPaidExpensesMember 2024-01-01 2024-06-30 0001588489 us-gaap:RelatedPartyMember 2024-01-01 2024-06-30 0001588489 2024-06-30 0001588489 2024-07-29 0001588489 2024-01-11 2024-01-11 0001588489 2023-01-01 2023-06-30 0001588489 gbtc:DCGMember srt:MaximumMember 2024-06-30 0001588489 srt:MaximumMember 2021-10-20 0001588489 gbtc:BTCTrustMember us-gaap:SubsequentEventMember 2024-07-30 2024-07-30 0001588489 us-gaap:RelatedPartyMember 2023-01-01 2023-06-30 0001588489 us-gaap:SubsequentEventMember 2024-07-29 2024-07-29 0001588489 2023-03-31 0001588489 us-gaap:FairValueInputsLevel1Member 2024-06-30 0001588489 2024-01-01 2024-06-30 xbrli:pure gbtc:Bitcoin xbrli:shares iso4217:USD xbrli:shares gbtc:Number iso4217:USD   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 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 Nam