BTCC Semi-Annual Financial Statements

GRAYSCALE FUNDS TRUST STATEMENTS OF ASSETS AND LIABILITIES June 30, 2025 (Unaudited)

Grayscale Bitcoin Premium Income ETF (Consolidated)

Grayscale Bitcoin Covered Call ETF (Consolidated)

Grayscale Bitcoin Adopters ETF

Grayscale Bitcoin Miners ETF

ASSETS: Investments, at value . . . . . . . . . . . . . . . . . . . . . Receivable for investments sold. . . . . . . . . . . . . Receivable for fund shares sold . . . . . . . . . . . . . Dividends receivable . . . . . . . . . . . . . . . . . . . . . Dividend tax reclaims receivable . . . . . . . . . . . . Security lending income receivable . . . . . . . . . . Interest receivable. . . . . . . . . . . . . . . . . . . . . . . . Foreign currency, at value. . . . . . . . . . . . . . . . . . Total assets ........................... LIABILITIES: Written option contracts, at value. . . . . . . . . . . . Payable for investments purchased. . . . . . . . . . . Payable for capital shares redeemed. . . . . . . . . . Payable upon return of securities loaned (See Note 4) . . . . . . . . . . . . . . . . . . . . . . . . . . Payable to adviser. . . . . . . . . . . . . . . . . . . . . . . . Total liabilities ........................

$4,390,043 1,633,136

$7,935,954

$7,698,994 $4,061,429

— 769,641 — 241,045

— — — — —

949,926

4,567

— —

242 458

324

14

— 1,605

8

2,169

24

959

124

6,978,018

7,938,123

8,712,133

4,062,388

— 114,760

— 8,855

1,579,588 982,707

— 750,487 — 250,729

— —

155,612

— 1,189,336

1,714

3,648

2,849

2,197

2,719,621

118,408

2,193,401

11,052

NET ASSETS ..........................

$4,258,397

$7,819,715

$6,518,732 $4,051,336

Net Assets Consists of: Paid-in capital. . . . . . . . . . . . . . . . . . . . . . . . . . . Total distributable earnings/(accumulated losses)............................... Total net assets ....................... Net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Shares issued and outstanding (a) ............. Net asset value per share. . . . . . . . . . . . . . . . . . . Cost: Investments, at cost. . . . . . . . . . . . . . . . . . . . . Foreign currency, at cost. . . . . . . . . . . . . . . . . Proceeds Written options premium received . . . . . . . . . Loaned Securities: at value (included in investments) . . . . . . . . .

$3,420,637

$7,868,288

$6,822,618 $3,633,549

837,760

(48,573 )

(303,886)

417,787

$4,258,397

$7,819,715

$6,518,732 $4,051,336

$4,258,397

$7,819,715

$6,518,732 $4,051,336

130,000

220,000

260,000

100,000

$ 32.76

$ 35.54

$ 25.07 $ 40.51

$4,003,316

$7,873,944

$7,952,031 $4,011,179

$

— $

— $ 124 $

$

— $ 75,823

$

— $ 17,253

$ 152,285

$

— $1,139,117 $

(a)

Unlimited shares authorized without par value.

7 The accompanying notes are an integral part of these financial statements.

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