Grayscale Investments Merges into Grayscale Operating, LLC

Summary

On January 1, 2025, Grayscale Investments, LLC (GSI) completed a corporate reorganization by merging with Grayscale Operating, LLC (GSO), a subsidiary of Digital Currency Group, Inc. This reorganization involved the assignment of certain sponsor contracts to Grayscale Investments Sponsors, LLC (GSIS), a direct subsidiary of GSO. GSO subsequently withdrew as a sponsor of the Grayscale Bitcoin Trust ETF, effective 120 days from the date of the announcement. The Trust does not expect this reorganization to have a material impact on its operations.