Grayscale Bitcoin Trust ETF Sponsor Corporate Reorganization

Summary

On October 22, 2025, Grayscale Investments Sponsors, LLC, the sponsor of Grayscale Bitcoin Trust ETF, underwent a corporate reorganization. The reorganization involved GSO Intermediate Holdings Corporation transferring a portion of its common membership units of Grayscale Operating, LLC to Grayscale Investments, Inc., which is now the sole managing member of Grayscale Operating, LLC and the sole member of the Sponsor. The board of directors of Grayscale Investments, consisting of the same members as the former board of GSO Intermediate Holdings Corporation, is now responsible for managing and directing the affairs of the Sponsor. This reorganization is not expected to have any material impact on the operations of the Trust.