Grayscale Bitcoin Trust (BTC) Q3 2024 Filing

Ticker: GBTC · Form: 10-Q · Filed: 2024-11-01T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, cryptocurrency, bitcoin, trust

Related Tickers: BTC-USD

TL;DR

**GBTC Q3 FILING OUT: STILL HOLDING BITCOIN, RELATED PARTY DEALS WITH DCG CONTINUE.**

AI Summary

Grayscale Bitcoin Trust (BTC) filed its 10-Q for the period ending September 30, 2024. The filing details the trust's investments in Bitcoin and its operations. It also discloses related party transactions, including those with DCG (Digital Currency Group), the parent company.

Why It Matters

This filing provides investors with an update on the financial health and holdings of the Grayscale Bitcoin Trust, a significant vehicle for Bitcoin investment.

Risk Assessment

Risk Level: medium — The value of the trust is directly tied to the volatile price of Bitcoin, and it involves transactions with related parties.

Key Numbers

N/A — Net Asset Value (Specific NAV figures are not provided in this header-level data.)
N/A — Total Assets (Specific asset figures are not provided in this header-level data.)
N/A — Total Liabilities (Specific liability figures are not 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
Digital Currency Group (DCG) (company) — Related party to Grayscale Bitcoin Trust
20240930 (date) — Period of report for the 10-Q
20241101 (date) — Filing date of the 10-Q

FAQ

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

The Conformed Period of Report is 20240930, meaning the filing covers the third quarter of 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on 20241101.

What is the primary investment of the Grayscale Bitcoin Trust?

The trust's primary investment is in Bitcoin, as indicated by its name and the context of related filings.

Are there any related party transactions mentioned?

Yes, the filing references related party members, specifically gbtc:DCGMember, indicating transactions with Digital Currency Group.

What is the state of incorporation for Grayscale Bitcoin Trust?

Grayscale Bitcoin Trust is incorporated in Delaware (DE).

From the Filing

0000950170-24-120125.txt : 20241101 0000950170-24-120125.hdr.sgml : 20241101 20241101164920 ACCESSION NUMBER: 0000950170-24-120125 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 63 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241101 DATE AS OF CHANGE: 20241101 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: 241419733 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-20240930.htm 10-Q 10-Q 2024 Q3 12-31 0001588489 false http://grayscale.com/20240930#InvestmentInBitcoinMember http://grayscale.com/20240930#InvestmentInBitcoinMember 0001588489 srt:MaximumMember 2024-01-09 2024-01-09 0001588489 2024-06-30 0001588489 2023-01-01 2023-12-31 0001588489 gbtc:DCGMember srt:MaximumMember 2021-04-30 0001588489 gbtc:BTCTrustMember 2024-07-30 2024-07-30 0001588489 gbtc:DCGMember srt:MaximumMember 2021-10-20 0001588489 srt:MaximumMember 2021-10-20 0001588489 us-gaap:RelatedPartyMember 2023-12-31 0001588489 gbtc:DCGMember 2024-09-30 0001588489 2024-10-28 0001588489 2024-01-09 2024-01-09 0001588489 gbtc:InvestmentInBitcoinMember 2024-09-30 0001588489 2024-01-01 2024-09-30 0001588489 gbtc:BTCTrustMember 2024-07-31 2024-07-31 0001588489 srt:MinimumMember 2024-01-09 2024-01-09 0001588489 2023-01-01 2023-09-30 0001588489 us-gaap:RelatedPartyMember 2024-01-01 2024-09-30 0001588489 2023-06-30 0001588489 gbtc:BTCTrustMember 2024-07-31 0001588489 gbtc:InvestmentMember 2024-09-30 0001588489 gbtc:DCGMember 2022-03-02 0001588489 gbtc:O2024M2DividendsMember gbtc:BTCTrustMember 2024-07-19 2024-07-19 0001588489 us-gaap:FairValueInputsLevel3Member 2024-09-30 0001588489 2024-07-01 2024-09-30 0001588489 srt:MaximumMember 2024-09-30 0001588489 us-gaap:RelatedPartyMember 2024-09-30 0001588489 gbtc:InvestmentInBitcoinMember 2023-12-31 0001588489 srt:MaximumMember 2021-03-10 0001588489 gbtc:BTCTrustMember 2024-01-01 2024-09-30 0001588489 2024-09-30 0001588489 us-gaap:RelatedPartyMember 2024-07-01 2024-09-30 0001588489 gbtc:O2024M2DividendsMember gbtc:BTCTrustMember 2024-07-30 2024-07-30 0001588489 us-gaap:SubsequentEventMember 2024-10-28 0001588489 us-gaap:FairValueInputsLevel1Member 2024-09-30 0001588489 gbtc:SponsorMember 2024-01-01 2024-09-30 0001588489 us-gaap:SubsequentEventMember 2024-10-28 2024-10-28 0001588489 us-gaap:RelatedPartyMember 2023-01-01 2023-09-30 0001588489 us-gaap:RelatedPartyMember 2023-07-01 2023-09-30 0001588489 gbtc:NonSponsorPaidExpensesMember 2024-01-01 2024-09-30 0001588489 gbtc:DCGMember 2021-10-20 0001588489 gbtc:DCGMember srt:MaximumMember 2024-09-30 0001588489 us-gaap:FairValueInputsLevel2Member 2024-09-30 0001588489 2024-01-11 2024-01-11 0001588489 gbtc:BTCTrustMember 2024-07-01 2024-09-30 0001588489 us-gaap:FairValueInputsLevel3Member 2023-12-31 0001588489 us-gaap:FairValueInputsLevel1Member 2023-12-31 0001588489 gbtc:CoinbaseIncMember gbtc:SponsorParentMember 2024-09-30 0001588489 2022-12-31 0001588489 2023-12-31 0001588489 2023-09-30 0001588489 2023-07-01 2023-09-30 0001588489 us-gaap:FairValueInputsLevel2Member 2023-12-31 0001588489 gbtc:DCGMember srt:MaximumMember 2022-03-02 xbrli:pure gbtc:Bitcoin iso4217:USD xbrli:shares 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 September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13