XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.24.3

The Initial Distribution from the Grayscale Bitcoin Trust (BTC) | 2 Months Ended
--- | ---
Sep. 30, 2024
Initial distribution [Abstract] |
The Initial Distribution from the Grayscale Bitcoin Trust (BTC) | 4. The Initial Distribution from the Grayscale Bitcoin Trust (BTC) On July 19, 2024, the Sponsor of the Trust issued a press release announcing that its board of directors declared a pro rata distribution on the Shares of the Trust, pursuant to which each holder of Grayscale Bitcoin Trust (BTC) (“GBTC”) shares as of 4:00 PM ET on July 30, 2024 (the “Record Date,” and such holders, the “GBTC Record Holders”) was entitled to receive Shares of the Trust, in connection with its previously announced initial creation and distribution of Shares of the Trust (such transactions collectively, the “Initial Distribution”), as described in a definitive information statement on Schedule 14C filed with the Securities and Exchange Commission on July 30, 2024 by GBTC. In the Initial Distribution, GBTC contributed approximately 10% of the Bitcoin that it held as of 4:00 PM ET on the Record Date to the Trust, and each GBTC Record Holder was entitled to receive Shares pro rata based on a 1:1 ratio, such that for each one (1) GBTC share held by a GBTC Record Holder, such GBTC Record Holder was entitled to receive one (1) Share on the Distribution Date. In connection therewith, on July 31, 2024, GBTC completed its previously announced pro rata distribution of 303,690,100 Shares of the Trust to shareholders of GBTC as of 4:00 PM ET on the Record Date and contributed to the Trust an amount of Bitcoin equal to approximately 10% of the total Bitcoin held by GBTC as of the Record Date, equal to 26,935.83753443 Bitcoin, with a value of $1,756,821,047, as consideration and in exchange for the issuance 303,690,100 Shares of the Trust at $5.78 per Share. It is expected that neither the GBTC Trust nor any beneficial owner of the GBTC shares will recognize any gain or loss for U.S. federal income tax purposes as a result of the Initial Distribution.

X
- Definition N/A + References No definition available. + Details
Name: | btc_InitialDistributionAbstract
Namespace Prefix: | btc_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Initial Distribution. + References No definition available. + Details
Name: | btc_InitialDistributionTextblock
Namespace Prefix: | btc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration