GRAYSCALE BITCOIN ADOPTERS ETF SCHEDULE OF INVESTMENTS June 30, 2025 (Unaudited)
Shares
Value
Shares
Value
COMMON STOCKS - 99.4% Communication Services - 6.7% Boyaa Interactive International Ltd. . . . . . . .
SHORT-TERM INVESTMENTS - 3.7% Investments Purchased with Proceeds from Securities Lending - 3.6% First American Government Obligations Fund - Class X, 4.25% (d) ............ 155,612 $ 155,612
87,000 $ 61,509
Jasmine International PCL - NVDR (a) ...... 205,000
8,261
NexonCo.Ltd..................... Rumble, Inc. (a) .................... Wemade Co. Ltd. (a) .................. Consumer Discretionary - 32.7% (b) Cango, Inc. - ADR (a) ................. GameStop Corp. - Class A (a) ............ MercadoLibre, Inc. (a) ................ Metaplanet, Inc. (a) .................. NET Holding AS (a) .................. Tesla, Inc. (a) ...................... Energy - 1.8% Alliance Resource Partners LP . . . . . . . . . . Financials - 16.9% BitcoinGroupSE................... Block, Inc. (a) ...................... Coinbase Global, Inc. - Class A (a) . . . . . . . . . Galaxy Digital, Inc. - Class A (a) .......... Virtu Financial, Inc. - Class A . . . . . . . . . . . Health Care - 2.5% Semler Scientific, Inc. (a)(c) ............. Industrials - 2.1% AkerASA-ClassA................. KULR Technology Group, Inc. (a) . . . . . . . . . Information Technology - 36.7% (b) Bit Digital, Inc. (a) ................... Bitdeer Technologies Group (a)(c) . . . . . . . . . Bitfarms Ltd. (a) .................... BitFuFu, Inc. - Class A (a) .............. Blockchain Group (a) ................. Cipher Mining, Inc. (a) ................ Cleanspark, Inc. (a) .................. Core Scientific, Inc. (a) ................ Exodus Movement, Inc. - Class A (a) . . . . . . . Hive Digital Technologies Ltd. (a) . . . . . . . . . Hut 8 Corp. (a)(c) .................... MARA Holdings, Inc. (a) ............... MicroStrategy, Inc. - Class A (a) .......... Next Technology Holding, Inc. (a) . . . . . . . . . Remixpoint, Inc. (a) .................. Riot Platforms, Inc. (a) ................
9,500 191,388
1,925
17,286 8,464 286,908
Money Market Funds - 0.1% First American Government Obligations Fund - Class X, 4.25% (d) ............ TOTAL SHORT-TERM INVESTMENTS (Cost$158,190).................. TOTAL INVESTMENTS - 103.1% (Cost$4,003,316)................. Liabilities in Excess of Other Assets-(3.1)%..................
334
2,578
2,578
1,382
6,703
158,190
7,862 191,754 77 201,249 15,200 173,630
$4,390,043
9,668
10,982
2,544 808,127 1,392,445
(131,646)
TOTAL NET ASSETS - 100.0% . . . . . . . .
$4,258,397
2,911
76,094
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 ASA - Advanced Subscription Agreement LP - Limited Partnership NVDR - Non-Voting Depositary Receipt PCL - Public Company Limited (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 $152,285. (d) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.
919
44,229
2,900 196,997 587 205,738 9,835 214,936
1,293
57,913 719,813
2,729 105,721
1,134 2,062
73,399 14,700 88,099
2,638
5,777 6,257 6,654 6,466
545
7,919 2,002
13,085
66,201
1,623 8,148
7,758
89,872 10,259 31,627
601
1,097 3,616 2,269
6,509
42,203
7,155 112,190 2,218 896,582 53,882 123,929
7,800
29,376
10,718 121,113 1,562,773
TOTAL COMMON STOCKS (Cost$3,845,126).................
4,231,853
1 The accompanying notes are an integral part of these financial statements.
Made with FlippingBook - professional solution for displaying marketing and sales documents online