Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: (a) On January 9, 2024, the Trust sold 500,000 Shares to FMR Capital, Inc., an affiliate of the Sponsor, for $40 per Share in a transaction exempt from registration under Section 4(a)(2) of the Securities Act of 1933, as amended.
−Removed: Proceeds from such sale were used to purchase bitcoin.
−Removed: No further sales of unregistered securities are contemplated.
+Added: (a) Not applicable.
(b) Not applicable.
(c) The Trust does not purchase Shares directly from its shareholders.
−Removed: The following table summarizes the redemptions by Authorized Participants during the nine months ended September 30, 2024:
+Added: The following table summarizes the redemptions by Authorized Participants during the three months ended March 31, 2025:
Title of Securities Registered*
5 unchanged sentences
03/01/2025 to 03/31/2025
−Removed: 04/01/2024 to 04/30/2024
−Removed: 05/01/2024 to 05/31/2024
−Removed: 06/01/2024 to 06/30/2024
−Removed: 07/01/2024 to 07/31/2024
−Removed: 08/01/2024 to 08/31/2024
−Removed: 09/01/2024 to 09/30/2024
* The registration statement covers an indeterminate amount of securities to be offered or sold.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.