2025 Annual Financial Statements


TABLE OF CONTENTS
2

Schedules of Investments
3

Grayscale Bitcoin Adopters ETF
3

Grayscale Bitcoin Covered Call ETF
4

Grayscale Bitcoin Miners ETF
6

Grayscale Bitcoin Premium Income ETF
7

Grayscale Ethereum Covered Call ETF
9

Statements of Assets and Liabilities
11

Statements of Operations
12

Statements of Changes in Net Assets
13

Financial Highlights
15

Notes to Financial Statements
20

Report of Independent Registered Public Accounting Firm
31

Tax Information
32

Information About Proxy Voting
33

Frequency Distribution of Premiums and Discounts
34

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