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 June 30, 2020.
−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 June 30, 2020.
−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 June 30, 2020.
−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 June 30, 2020.
+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 September 30, 2020.
+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 September 30, 2020.
+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 September 30, 2020.
+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 September 30, 2020.
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.
15 unchanged sentences
“ Authorized Participant ”—Certain eligible financial institutions that have entered into an agreement with the Trust and the Sponsor concerning the creation of Shares.
−Removed: Each Authorized Participant (i) is a registered broker-dealer, (ii) has entered into a Participant Agreement with the Sponsor and (iii) owns an Authorized Participant Self-Administered Account.
+Added: Each Authorized Participant (i) is a registered broker-dealer, (ii) has entered into an agreement with the Sponsor that provides the procedures for the creation of Baskets and for the delivery of Bitcoins required for Creation Baskets with the Sponsor and (iii) owns an Authorized Participant Self-Administered Account.
“ Authorized Participant Self-Administered Account ”—A Bitcoin wallet address that is known to the Custodian as belonging to the Authorized Participant.
10 unchanged sentences
“ Custodian ”—Coinbase Custody Trust Company, LLC.
−Removed: “ Custodian Agreement ”—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: “ Custodian Agreement ”— 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 Custodian’s services that (i) allow Bitcoins to be deposited from a public blockchain address to the Trust’s segregated custody account controlled and secured by the Custodian to store private keys, which allow for the transfer of ownership or control of the Trust’s Bitcoin on the Trust’s behalf and (ii) allow the Trust and the Sponsor to withdraw Bitcoin from the Trust’s Bitcoin Account to a public blockchain address the Trust or the Sponsor controls pursuant to instructions the Trust or the Sponsor provides to the Custodian.
+Added: provided by the Custodian as a fiduciary with respect to the Trust’s assets.
“ Custodian Fee ”—Fee payable to the Custodian for services it provides to the Trust, which the Sponsor shall pay to the Custodian as a Sponsor-paid Expense.
10 unchanged sentences
“ Digital Asset Market ”—A dealer market, brokered market, principal-to-principal market or exchange market on which Bitcoins are bought and sold.
−Removed: “ Distribution and Marketing Agreement ”—The agreement among the Sponsor and the Distributor and Marketer, which sets forth the obligations and responsibilities of the Distributor and Marketer.
+Added: “ Distribution and Marketing Agreement ”— The agreement among the Sponsor and Genesis, or any other person from time to time, who is engaged by the Sponsor to assist in the distribution or marketing services of the Shares, which sets forth the obligations and responsibilities of such persons.
“ Distributor ”—Genesis, or any other person from time to time, who is engaged by the Sponsor to assist in the distribution of the Shares.
17 unchanged sentences
“ Investment Company Act ”—Investment Company Act of 1940, as amended.
−Removed: “ Investor ”—Any investor that has entered into a Subscription Agreement with an Authorized Participant, pursuant to which such Authorized Participant will act as agent for the investor.
+Added: “ Investor ”— Any investor that has entered into an agreement with an Authorized Participant pursuant to which the Investor can subscribe for Shares, pursuant to which such Authorized Participant will act as agent for the investor.
“ IR Virtual Currency ”—Any virtual currency tokens, or other asset or right, acquired by the Trust through the exercise (subject to the applicable provisions of the Trust Agreement) of any Incidental Right.
12 unchanged sentences
“ Service Providers ”—Collectively, Grayscale Investments, LLC, Continental Stock Transfer & Trust Company, Genesis, TradeBlock, Inc., Coinbase Custody Trust Company, LLC and Digital Currency Group, Inc.
−Removed: “ Shareholder ”—Any person that owns Shares.
“ Shares ”—Common units of fractional undivided beneficial interest in, and ownership of, the Trust.
1 unchanged sentence
“ Sponsor ”—Grayscale Investments, LLC.
−Removed: “ Sponsor-paid Expenses ”—The fees and expenses incurred by the Trust in the ordinary course of its affairs that the Sponsor is obligated to assume and pay, excluding taxes, but including:
−Removed: (i) the Marketing Fee, (ii) the Administrator Fee, (iii) the Custodian Fee,
−Removed: (iv) the Transfer Agent fee, (v) the Trustee fee, (vi) the fees and expenses related to the listing, quotation or trading of the Shares on any Secondary Market (including customary legal, marketing and audit fees and expenses) in an amount up to $600,000 in any given fiscal year, (vii) ordinary course, legal fees and expenses, (viii) audit fees, (ix) regulatory fees, including, if applicable, any fees relating to the registration of the Shares under the Securities Act or the Exchange Act, (x) printing and mailing costs, (xi) costs of maintaining the Trust’s website and (xii) applicable license fees, provided that any expense that qualifies as an Additional Trust Expense will be deemed to be an Additional Trust Expense and not a Sponsor-paid Expense.
+Added: “ Sponsor-paid Expenses ”— T he fees and expenses incurred by the Trust in the ordinary course of its affairs that the Sponsor is obligated to assume and pay, excluding taxes, but including:
+Added: (i) the f ee payable to Genesis or any other person from time to time engaged to provide marketing services or related services to the Trust pursuant to authority delegated by the Sponsor for services it provides to the Trust, (ii) the Administrator Fee, (iii) the f ee payable to the Custodian for services it provides to the Trust, (iv) the f ee payable to the Transfer Agent for services it provides to the Trust, (v) the Trustee fee, (vi) the fees and expenses related to the listing, quotation or trading of the Shares on any Secondary Market (including customary legal, marketing and audit fees and expenses) in an amount up to $600,000 in any given fiscal year, (vii) ordinary course, legal fees and expenses, (viii) audit fees, (ix) regulatory fees, including, if applicable, any fees relating to the registration of the Shares under the Securities Act or the Exchange Act, (x) printing and mailing costs, (xi) costs of maintaining the Trust’s website and (xii) applicable license fees, provided that any expense that qualifies as an Additional Trust Expense will be deemed to be an Additional Trust Expense and not a Sponsor-paid Expense .
“ Sponsor’s Fee ”—A fee, payable in Bitcoins, which accrues daily in U.S.
18 unchanged sentences
Member of the Board of Directors and Vice President, Finance (Principal Financial Officer and Principal Accounting Officer)*
−Removed: August 7, 2020
+Added: November 6, 2020
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.