GRAYSCALE FUNDS TRUST NOTES TO FINANCIAL STATEMENTS December 31, 2025 (Continued)
received by the Funds, if any, are displayed in the Capital Transactions section of the Statements of Changes in Net Assets. The Funds may issue an unlimited number of shares of beneficial interest, with no par value. Shares of the Funds have equal rights and privileges. NOTE 8 – RISKS Concentration Risk. To the extent the Funds invest more heavily in particular industries, groups of industries, or sectors of the economy, their performance will be especially sensitive to developments that significantly affect those industries, groups of industries, or sectors of the economy, and the value of shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries or sectors. Derivative Instruments . The Options Funds will invest in options, a type of derivative instrument. Derivatives can be more sensitive to changes in interest rates or to sudden fluctuations in market prices than conventional securities, which can result in greater losses for the Options Funds. In addition, the prices of the derivative instruments and the prices of underlying securities, interest rates or currencies they are designed to reflect may not move together as expected. Derivatives are usually traded on margin, which may subject the Options Funds to margin calls. Margin calls may force the Options Funds to liquidate assets. NOTE 9 – NEW ACCOUNTING PRONOUNCEMENT In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid. The Funds have adopted ASU 2023-09, with no material
impact on the Funds’ financial statements. NOTE 10 – SUBSEQUENT EVENTS The Bitcoin Covered Call ETF paid distributions to shareholders as follows:
Ordinary Income Rate
Ordinary Income Distribution Paid
Record Date 1/14/2026 1/29/2026 2/12/2026 2/26/2026
Ex-Date
Payable Date 1/15/2026 1/30/2026 2/13/2026 2/27/2026
1/14/2026 1/29/2026 2/12/2026 2/26/2026
$0.40899515 $0.37073786 $0.36915888 $0.36772596
$421,265 $381,860 $395,000 $382,435
The Bitcoin Premium Income ETF paid distributions to shareholders as follows:
Ordinary Income Rate
Ordinary Income Distribution Paid
Record Date 1/14/2026 1/29/2026 2/12/2026 2/26/2026
Ex-Date
Payable Date 1/15/2026 1/30/2026 2/13/2026 2/27/2026
1/14/2026 1/29/2026 2/12/2026 2/26/2026
$0.23213846 $0.14430769 $0.30769231 $0.12461538
$ 30,178 $ 18,760 $ 40,000 $ 16,200
The Ethereum Covered Call ETF paid distributions to shareholders as follows:
Ordinary Income Rate
Ordinary Income Distribution Paid
Record Date 1/14/2026 1/29/2026 2/12/2026 2/26/2026
Ex-Date
Payable Date 1/15/2026 1/30/2026 2/13/2026 2/27/2026
1/14/2026 1/29/2026 2/12/2026 2/26/2026
$0.62104773 $0.28789750 $0.56818182 $0.44914186
$273,261 $126,675 $250,000
$193,131 In preparing these financial statements, management has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. There were no other events or transactions that occurred during the period subsequent to the end of the current fiscal period that materially impacted the amounts or disclosures in the Funds’ financial statements.
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