GRAYSCALE BITCOIN MINERS ETF SCHEDULE OF INVESTMENTS June 30, 2025 (Unaudited)
Shares
Value
Percentages are stated as a percent of net assets. The Global Industry Classification Standard (“GICS ® ”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS ® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. ADR - American Depositary Receipt (a) Non-income producing security. (b) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors. (c) All or a portion of this security is on loan as of June 30, 2025. The fair value of these securities was $1,139,117. (d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025. (e) Represents less than 0.05% of net assets.
COMMON STOCKS - 99.8% Consumer Discretionary - 2.2% Cango, Inc. - ADR (a) ............... Financials - 2.8% Block, Inc. (a) .................... Information Technology - 94.8% (b) Applied Digital Corp. (a) ............. Bit Digital, Inc. (a) ................. Bitdeer Technologies Group (a)(c) . . . . . . . . Bitfarms Ltd. (a) .................. BitFuFu, Inc. - Class A (a) ............ Canaan, Inc. - ADR (a)(c) ............. Cipher Mining, Inc. (a) .............. Cleanspark, Inc. (a) ................. Core Scientific, Inc. (a) .............. Digi Power X, Inc. (a) ............... Exodus Movement, Inc. - Class A (a) . . . . . Gryphon Digital Mining, Inc. (a) . . . . . . . . Hive Digital Technologies Ltd. (a) . . . . . . . Hut 8 Corp. (a)(c) .................. IntelCorp. ..................... IREN Ltd. (a)(c) ................... MARA Holdings, Inc. (a)(c) ........... Neptune Digital Assets Corp. (a) . . . . . . . . Northern Data AG (a) ............... NVIDIACorp.................... Riot Platforms, Inc. (a) .............. Terawulf, Inc. (a) .................. The9 Ltd. - ADR (a)(c) ...............
29,971 $ 145,359
2,692
182,868
23,481 97,808 21,502 213,683
236,454 214,200 246,843 179,536 25,165 108,095 305,910 297,259 932,193 35,493 109,525 21,653 154,942 270,146 181,910 337,543 937,366 57,416 217,040 188,166 794,842 284,056
7,791
174,826 63,998 26,950 54,610 12,631
3,799
24,569 86,079 14,524
8,121
23,167 59,781 54,406
7,704 1,191
70,340 64,853
5,500
42,790 6,178,543
TOTAL COMMON STOCKS (Cost $6,759,807). . . . . . . . . . . . . . .
6,506,770
SHORT-TERM INVESTMENTS - 18.3% Investments Purchased with Proceeds from Securities Lending - 18.3% First American Government Obligations Fund - Class X, 4.25% (d) . . . . . . . . . . 1,189,336 1,189,336
Money Market Funds - 0.0% (e) First American Government Obligations Fund - Class X, 4.25% (d) .......... TOTAL SHORT-TERM INVESTMENTS (Cost $1,192,224). . . . . . . . . . . . . . . TOTAL INVESTMENTS - 118.1% (Cost $7,952,031). . . . . . . . . . . . . . . Liabilities in Excess of Other Assets-(18.1)%................
2,888
2,888
1,192,224
$ 7,698,994
(1,180,262)
TOTAL NET ASSETS - 100.0% . . . . . .
$ 6,518,732
4 The accompanying notes are an integral part of these financial statements.
Made with FlippingBook - professional solution for displaying marketing and sales documents online