1 unchanged sentence
Exhibit Description
−Removed: Certification of Principal Executive Officer pursuant to Rule 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as amended, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022.
−Removed: Certification of Principal Financial Officer pursuant to Rule 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as amended, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022.
−Removed: Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022.
−Removed: Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022.
+Added: Custodian Agreement, dated June 29, 2022, between the Sponsor and the Custodian.
+Added: Certification of Principal Executive Officer pursuant to Rule 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as amended, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.
+Added: Certification of Principal Financial Officer pursuant to Rule 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as amended, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.
+Added: Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.
+Added: Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, with respect to the Trust’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2022.
Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
7 unchanged sentences
these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.
+Added: Portions of this exhibit (indicated by asterisks) have been omitted as the Registrant has determined that (i) the omitted information is not material and (ii) is the type that the registrant treats as private or confidential.
GLOSSARY OF DEFINED TERMS
21 unchanged sentences
network hosting the public transaction ledger, known as the Blockchain, and the source code comprising the basis for the cryptographic and algorithmic protocols governing the Bitcoin Network.
−Removed: Business—Overview of the BTC Industry and Market” in our Annual Report on Form 10-K.
+Added: Business—Overview of the BTC Industry and Market” in our Annual Report.
“ Bitcoin Blockchain
6 unchanged sentences
“ Custodian Agreement
−Removed: ”—The Custodial Services Agreement by and between the Trust and the Sponsor and Custodian that governs the Trust’s and the Sponsor’s use of the Custodial Services provided by the Custodian as a fiduciary with respect to the Trust’s assets.
+Added: ”—The Amended and Restated Custodial Services Agreement, dated as of June 29, 2022, by and between the Trust and the Sponsor and Custodian that governs the Trust’s and the Sponsor’s use of the Custodial Services provided by the Custodian as a fiduciary with respect to the Trust’s assets.
“ Custodian Fee
13 unchanged sentences
dollars or other fiat currency), less its liabilities (which include estimated accrued but unpaid fees and expenses) calculated in the manner set forth under “Item 1.
−Removed: Business—Valuation of Bitcoin and Determination of Digital Asset Holdings” in our Annual Report on Form 10-K.
+Added: Business—Valuation of Bitcoin and Determination of Digital Asset Holdings” in our Annual Report.
See also “Item 1.
−Removed: Business—Investment Objective” in our Annual Report on Form 10-K
−Removed: for a description of the Trust’s NAV, as calculated in accordance with GAAP.
+Added: Business—Investment Objective” in our Annual Report for a description of the Trust’s NAV, as calculated in accordance with GAAP.
“ Digital Asset Holdings Fee Basis Amount
”— The amount on which the Sponsor’s Fee for the Trust is based, as calculated in the manner set forth under “Item 1.
−Removed: Business—Valuation of Bitcoin and Determination of Digital Asset Holdings” in our Annual Report on Form 10-K.
+Added: Business—Valuation of Bitcoin and Determination of Digital Asset Holdings” in our Annual Report.
“ Digital Asset Market
10 unchanged sentences
”— Genesis Global Trading, Inc., a wholly owned subsidiary of Digital Currency Group, Inc., which as of the date of this Quarterly Report, is the only acting Authorized Participant.
+Added: “ Genesis Global Holdco, LLC and subsidiaries
+Added: ”—Affiliates of Genesis Global Trading, Inc.
+Added: and wholly owned subsidiaries of Digital Currency Group, Inc.
“ Incidental Rights
5 unchanged sentences
dollar value of a Bitcoin derived from the Digital Asset Exchanges that are reflected in the Index, calculated at 4:00 p.m., New York time, on each business day.
−Removed: Business—Overview of the Bitcoin Industry and Market—Bitcoin Value—The Index and the Index Price” in our Annual Report on Form 10-K
−Removed: for a description of how the Index Price is calculated.
+Added: Business—Overview of the Bitcoin Industry and Market—Bitcoin Value—The Index and the Index Price” in our Annual Report for a description of how the Index Price is calculated.
For purposes of the Trust Agreement, the term Bitcoin Index Price shall mean the Index Price as defined herein.
36 unchanged sentences
provided that for a day that is not a business day, the calculation of the Sponsor’s Fee will be based on the Digital Asset Holdings Fee Basis Amount from the most recent business day, reduced by the accrued and unpaid Sponsor’s Fee for such most recent business day and for each day after such most recent business day and prior to the relevant calculation date.
−Removed: “ Transfer Agency and Service Agreement
−Removed: ”—The agreement between the Sponsor and the Transfer Agent which sets forth the obligations and responsibilities of the Transfer Agent with respect to transfer agency services and related matters.
“ Transfer Agent
14 unchanged sentences
Michael Sonnenshein
−Removed: Member of the Board of Directors and Chief Executive Officer
+Added: Member of the Board of Directors and
+Added: Chief Executive Officer
(Principal Executive Officer)*
1 unchanged sentence
Chief Financial Officer
−Removed: (Principal Financial Officer and Principal Accounting Officer)*
+Added: (Principal Financial Officer and Principal
+Added: Accounting Officer)*
+Added: August 5, 2022
The Registrant is a trust and the persons are signing in their capacities as officers or directors of Grayscale Investments, LLC, the Sponsor of the Registrant.
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.