Welcome to our dedicated page for BTC Development SEC filings (Ticker: BDCIW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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BTC Development Corp. is a Cayman Islands-based blank check company that completed an IPO of 25,300,000 units on October 1, 2025, placing $253,000,000 into a trust account. It is seeking a business combination, primarily in the bitcoin ecosystem, before a completion window ending October 1, 2027 (or January 1, 2028 if extended under specified conditions).
The trust is intended to support redemptions at about $10.00 per Class A share if no deal is completed. As of March 23, 2026, there were 26,060,000 Class A ordinary shares and 8,686,667 Class B founder shares outstanding, with founder shares carrying anti-dilution rights that can materially dilute public holders at the business combination.
BTC Development Corp. filed a Form 8-K stating it has made its PFIC Annual Statement for fiscal year 2025 available to holders of its Class A ordinary shares. The company explains it may be treated as a passive foreign investment company for U.S. federal income tax purposes.
The statement is intended to help shareholders make an optional Qualified Electing Fund (QEF) election on their own tax returns. For 2025, the PFIC table shows ordinary earnings of US$0.0010364990 and no net capital gains, cash distributions, or property distributions. The filing emphasizes that shareholders should consult personal tax advisors.
Meteora Capital, LLC, together with its managing member Vik Mittal, reported beneficial ownership of Class A Common Stock of BTC Development Corp.7.0294% of the class.
All 1,831,855 shares are reported with shared voting and shared dispositive power, with no sole voting or dispositive authority. The shares are held by funds and managed accounts for which Meteora Capital serves as investment manager, and the filing states they were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of BTC Development Corp.
BTC Development Corp. received a significant ownership disclosure from TD entities. As of December 31, 2025, TD Securities (USA) LLC and The Toronto-Dominion Bank and affiliates reported beneficial ownership of 1,332,581 Class A ordinary shares of BTC Development Corp., representing 5.1% of the class.
Within this stake, The Toronto-Dominion Bank has sole voting and dispositive power over 1,200,000 shares, while TD Securities (USA) LLC controls 132,581 shares. The TD entities state that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of BTC Development Corp.
Glazer Capital, LLC and Paul J. Glazer filed an amended ownership report on BTC Development Corp. units. They report beneficial ownership of 1,174,323 units, representing 4.51% of the class as of 12/31/2025, with shared voting and dispositive power over all reported units.
The units each consist of one Class A ordinary share and one-fourth of one redeemable warrant. The securities are held through funds and managed accounts advised by Glazer Capital, and the filers state the holdings are in the ordinary course of business and not for influencing control of BTC Development Corp.