<SEC-DOCUMENT>0000950170-24-023714.txt : 20240301
<SEC-HEADER>0000950170-24-023714.hdr.sgml : 20240301
<ACCEPTANCE-DATETIME>20240301142718
ACCESSION NUMBER:		0000950170-24-023714
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240301
DATE AS OF CHANGE:		20240301

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grayscale Bitcoin Trust (BTC)
		CENTRAL INDEX KEY:			0001588489
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		ORGANIZATION NAME:           	09 Crypto Assets
		IRS NUMBER:				467019388
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-275079
		FILM NUMBER:		24708928

	BUSINESS ADDRESS:	
		STREET 1:		290 HARBOR DRIVE
		STREET 2:		4TH FLOOR
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
		BUSINESS PHONE:		212-668-1427

	MAIL ADDRESS:	
		STREET 1:		290 HARBOR DRIVE
		STREET 2:		4TH FLOOR
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Bitcoin Investment Trust
		DATE OF NAME CHANGE:	20131004

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grayscale Bitcoin Trust (BTC)
		CENTRAL INDEX KEY:			0001588489
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		ORGANIZATION NAME:           	09 Crypto Assets
		IRS NUMBER:				467019388
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		290 HARBOR DRIVE
		STREET 2:		4TH FLOOR
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
		BUSINESS PHONE:		212-668-1427

	MAIL ADDRESS:	
		STREET 1:		290 HARBOR DRIVE
		STREET 2:		4TH FLOOR
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Bitcoin Investment Trust
		DATE OF NAME CHANGE:	20131004
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>nyse_tv_-_dave_lavalle_3.htm
<DESCRIPTION>FWP
<TEXT>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Filed Pursuant To Rule 433</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Registration No. 333-275079</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 1, 2024</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">NYSE (TV): Opening Bell with Dave LaValle</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">TRINITY CHAVEZ:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> We were just talking about the significance of today and reminiscing about your story that you, he started his career here on the trading floor in 1999. Tell me about that.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">GLOBAL HEAD OF ETFS, GRAYSCALE INVESTMENTS, DAVID LAVALLE: </font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;">Look, I've been, uh, had the pleasure of, you know, celebrating lots of bell ringings and obviously starting my career down here on the floor of the American Stock Exchange. Then working on the floor, the, uh, um, New York Stock Exchange as well. It's the birthplace of ETFs and having the opportunity to celebrate GBTC's uplisting today is really full circle. It's really wonderful for us and the team.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">CHAVEZ:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> You know, I was, um, listening to Michael speak in the boardroom. He was really giving such a heartfelt speech just about how he wouldn't be here when he first started as a first Grayscale employee back in 2015. Obviously it takes a hugely committed team to get here. I mean, how did you feel listening to these, these words?</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">LAVALLE: </font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;">The New York Stock Exchange is about innovation. Grayscale's about innovation, Bitcoin and digital assets are about innovation. So it's really a perfect marriage between the New York Stock Exchange team and the grayscale team. It, it's really, really an awesome celebration.</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">CHAVEZ:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> And let's talk about how Grayscale is looking for SEC approval when it comes to spot Bitcoin ETFs. Tell me about this.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">LAVALLE:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> It was a 10 year journey and about two and a half years ago when I joined, uh, the SEC kept on saying, no, no, no. And we kept on saying we're not gonna take no for an answer. And so, you know, we took this to our investors on the, for the benefit of our investors and really bringing this to New York Stock Exchange and innovating. And, you know, on January 11th when we launched the first spot, spot Bitcoin ETF in the US market, it was really, uh, you know, a bunch of perseverance and something that's very exciting for our investors and for our team.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">CHAVEZ:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> And, you know, we're seeing a real big Bitcoin rally right now. I mean, how has this impacted Bitcoin ETFs across the sector?</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">LAVALLE:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> I mean, if you sum it up very simply, this is opening up, um, you know, democratizing an asset class and having a very large pool of investors have access to a new asset class. That's what ETFs have done for a very long time. Democratizing investing, uh, to the broadest range of investors. So, you know, the demand profile's going to increase and we've got a halving coming up in the next month or so. So that's gonna, you know, shrink the supply has to be positive for Bitcoin prices.</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">CHAVEZ:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> A lot of things to look out for. Thank you so much, Dave, for joining me.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:Arial;min-width:fit-content;">LAVALLE:</font><font style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:Arial;min-width:fit-content;"> Thank you so much for having me.</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:7pt;font-family:Times New Roman;min-width:fit-content;"> </font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
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  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">&#160;</font></p>
  <p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><font style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Grayscale Bitcoin Trust (BTC) (the &#x201c;Trust&#x201d;) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Trust has filed with the SEC for more complete information about the Trust and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Trust or any authorized participant will arrange to send you the prospectus (when available) if you request it by calling (833) 903 - 2211 or by contacting Foreside Fund Services, LLC, Three Canal Plaza, Suite 100, Portland, Maine 04101.</font></p>
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