GRAYSCALE FUNDS TRUST STATEMENTS OF OPERATIONS For the Period Ended June 30, 2025 (Unaudited)
Grayscale Bitcoin Premium Income ETF (Consolidated)
Grayscale Bitcoin Covered Call ETF (Consolidated)
Grayscale Bitcoin Adopters ETF
Grayscale Bitcoin Miners ETF
INVESTMENT INCOME: Dividend income. . . . . . . . . . . . . . . . . . . . . . . . . . . Securities lending income (See Note 4) . . . . . . . . . Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . Less: dividend withholding taxes . . . . . . . . . . . . . . Total investment income .................. EXPENSES: Investment advisory fee. . . . . . . . . . . . . . . . . . . . . . Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . Net investment income/(loss) ................ REALIZED AND UNREALIZED GAIN (LOSS) Net realized gain (loss) from: Investments............................. In-kind redemptions. . . . . . . . . . . . . . . . . . . . . . . Written option contracts expired or closed . . . . . Foreign currency translation . . . . . . . . . . . . . . . . Net realized gain (loss) . . . . . . . . . . . . . . . . . . . . . . Net change in unrealized appreciation (depreciation) on: Investments............................. Written option contracts . . . . . . . . . . . . . . . . . . . Foreign currency translation . . . . . . . . . . . . . . . . Net change in unrealized appreciation (depreciation)............................ Net realized and unrealized gain (loss) . . . . . . . . NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS ..........................
$ 5,423
$ — $8,314 $ —
14 44
— 3,409
—
37,203
117
24,544
(502 )
—
(828 )
—
4,979
37,203
11,012
24,544
2,953 2,953 2,026
7,280 7,280
13,685 13,685 (2,673 )
5,003 5,003
29,923
19,541
9,001
491,863
(31,662 )
468,735
441,808
— (16,497)
—
— 37,303
— 1,686
27
—
(14 )
—
450,836
529,166
(48,173 )
470,421
386,727
62,010
(253,037)
50,250
— (38,937)
— 8,398
(55 )
—
(3 )
—
386,672 837,508
23,073 552,239
(253,040) (301,213)
58,648 529,069
$ 839,534
$582,162
$(303,886)
$548,610
8 The accompanying notes are an integral part of these financial statements.
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