2 unchanged sentences
Prior to October 3, 2022 Shares were distributed by Genesis, acting as the sole Authorized Participant, through sales in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder.
−Removed: Since October 3, 2022, Grayscale Securities has been the only acting Authorized Participant of the Trust and has engaged Genesis as a Liquidity Provider to source Bitcoin on its behalf in connection with the creation of Shares.
−Removed: The Shares are quoted on OTCQX under the ticker symbol “GBTC.” Over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.
+Added: From October 3, 2022 to January 10, 2024, Grayscale Securities was the only acting Authorized Participant of the Trust.
+Added: On or after January 10, 2024, the Sponsor, on behalf of the Trust, and the Transfer Agent entered into Participant Agreements with a number of unaffiliated Authorized Participants in connection with the approval of NYSE Arca’s application under Rule 19b-4 of the Exchange Act.
+Added: As of the date of this Annual Report, Jane Street Capital, LLC, Virtu Americas LLC, Macquarie Capital (USA) Inc., ABN AMRO Clearing USA LLC and Goldman Sachs & Co.
+Added: LLC have agreed to act as Authorized Participants.
+Added: The Shares are listed on NYSE Arca under the ticker symbol “GBTC.”
Holders of Record
5 unchanged sentences
Recent Sales of Unregistered Shares
−Removed: As of December 31, 2022, the Registrant has distributed 692,370,100 Shares at varying prices determined by reference to the Digital Asset Holdings per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act.
+Added: As of December 31, 2023, the Registrant has distributed 692,370,100 Shares at varying prices determined by reference to the NAV per Share to selected “accredited investors,” within the meaning of Rule 501 of Regulation D under the Securities Act.
The Shares were sold in connection with an ongoing offering pursuant to Rule 506(c) of Regulation D under the Securities Act.
7 unchanged sentences
Purchases of equity securities by the issuer and affiliated purchasers —The table below sets forth information regarding open market purchases of Shares of Grayscale Bitcoin Trust (BTC) (OTCQX:
−Removed: GBTC) by Digital Currency Group, Inc.
−Removed: (“DCG”), the parent company of the Sponsor, on a monthly basis during the three months ended December 31, 2022:
−Removed: Price Paid per
−Removed: Dollar Value of
+Added: GBTC) by DCG, the parent company of the Sponsor, on a monthly basis during the three months ended December 31, 2023:
+Added: of Shares that
(in millions)
2 unchanged sentences
December 1, 2023 – December 31, 2023
−Removed: On March 10, 2021, the Board of the Sponsor (“the Board”) approved the purchase by DCG, the parent company of the Sponsor, of up to $250 million worth of Shares of the Trust.
+Added: On March 10, 2021, the Board approved the purchase by DCG, the parent company of the Sponsor, of up to $250 million worth of Shares of the Trust.
Subsequently, DCG authorized such purchase.
14 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.