Grayscale Bitcoin Mini Trust ETF (BTC) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BTC SEC filings page.
This page shows Grayscale Bitcoin Mini Trust ETF (BTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Asset-backed structure is defined by financing-funded cash outflows, not by reported operating revenue economics.
The cash-flow pattern was more demanding than the reported loss: operating cash flow was-$1.1B against net income of-$437M . Financing cash flow of$1.1B offset that operating outflow, indicating that the period’s activity was funded through financing flows rather than internally generated cash.
The balance sheet shows
Because revenue, gross profit, and free cash flow were not reported, operating margins and cash conversion from sales cannot be assessed. The available figures instead describe an asset-backed vehicle whose economics are visible mainly through cash movement and financing structure.
Some figures from recent filings were inconsistent and were omitted from this summary.
Financial Health Signals
Grayscale Bitcoin Mini Trust ETF does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Grayscale Bitcoin Mini Trust ETF reported a net loss of $437.2M while operations used $1.1B of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Grayscale Bitcoin Mini Trust ETF reported -$496.6M in net income in Q2 2026. This represents a decrease of 146.8% from the same quarter a year earlier. Against the prior quarter it is up 49.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Grayscale Bitcoin Mini Trust ETF's ROE was -15.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 38.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
BTC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BTC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Current Assets, Cash & Equivalents, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
BTC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
BTC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -15.6%-38.0pp | -27.8%-13.1pp | N/A | 5.2%+6.9pp | 22.4%+22.4pp | -14.7% | N/A | -1.6% |
| Return on Assets | -15.6%-38.0pp | -27.8%-13.1pp | N/A | 5.2%+6.9pp | 22.4%+22.4pp | -14.7% | N/A | -1.6% |
| Debt-to-Equity | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00 | 0.00 | 0.00 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Where Grayscale Bitcoin Mini Trust ETF Ranks
Frequently Asked Questions
Is Grayscale Bitcoin Mini Trust ETF profitable?
No, Grayscale Bitcoin Mini Trust ETF (BTC) reported a net income of -$437.2M in fiscal year 2025.
What is Grayscale Bitcoin Mini Trust ETF's return on equity (ROE)?
Grayscale Bitcoin Mini Trust ETF (BTC) has a return on equity of -10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Grayscale Bitcoin Mini Trust ETF's operating cash flow?
Grayscale Bitcoin Mini Trust ETF (BTC) recorded an outflow of $1.1B in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Grayscale Bitcoin Mini Trust ETF's total assets?
Grayscale Bitcoin Mini Trust ETF (BTC) had $4.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Grayscale Bitcoin Mini Trust ETF's debt-to-equity ratio?
Grayscale Bitcoin Mini Trust ETF (BTC) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Grayscale Bitcoin Mini Trust ETF's return on assets (ROA)?
Grayscale Bitcoin Mini Trust ETF (BTC) had a return on assets of -10.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Are Grayscale Bitcoin Mini Trust ETF's earnings high quality?
Grayscale Bitcoin Mini Trust ETF (BTC) reported a net loss of $437.2M while operations used $1.1B of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.