Fund Description: FUND DESCRIPTION: The Trust’s purpose is to hold Bitcoins, which are digital assets that are created and transmitted through the operations of the peer-to-peer Bitcoin Network, a decentralized network of computers that operates on cryptographic protocols. <p> INVESTMENT OBJECTIVE: Grayscale Bitcoin Trust investment objective is for the value of the Shares (based on Bitcoin per Share) to reflect the value of the Bitcoin held by the Trust, determined by reference to the Index Price, less the Trust’s expenses and other liabilities. The Trust does not seek to generate returns beyond tracking the price of Bitcoin. <p> FUND MANAGEMENT: Grayscale Investments, LLC is the sponsor of the Trust, Delaware Trust Company is the trustee of the Trust