Grayscale Bitcoin Mini Trust ETF 8-K

What Happened

• Grayscale filed an 8‑K on February 6, 2026, disclosing amendments to Participant Agreements with Jane Street Capital, LLC and Virtu Americas LLC that allow those entities to perform creations and redemptions of Trust shares in‑kind. The Sponsor may add more Authorized Participants (APs) in the future, and APs or their designees may be able to transact in‑kind, in cash, or both.
• The filing notes that NYSE Arca has received SEC regulatory approval permitting crypto-based exchange-traded products listed on NYSE Arca — including the Trust — to conduct in‑kind creations and redemptions (the “In‑Kind Regulatory Approval”). The Sponsor intends to implement the in‑kind process as described in Exhibit 99.1, which supersedes the Trust’s prior creation/redemption description.

Key Details

• Filing date: February 6, 2026; Participant Agreement amendments executed with Jane Street and Virtu.
• NYSE Arca’s Generic Listing Standards: SEC approved new Rule 8.201‑E (Generic) on September 17, 2025; the Trust’s application to list under the Generic Listing Standards was approved December 16, 2025. The Trust originally began trading July 31, 2024 under prior listing standards.
• Exhibits filed include: Form of Participant Agreement (Exhibit 10.1), Description of Creation and Redemption of Shares (Exhibit 99.1), Material U.S. Federal Income Tax Consequences (Exhibit 99.2), and Other Supplemental Disclosures (Exhibit 99.3).
• The Sponsor explicitly updated the Trust’s disclosures and tax consequences to reflect availability of an in‑kind creation/redemption process.

Why It Matters

• The filing documents a formal shift in how the Trust can create and redeem shares: authorized parties can now use an in‑kind process (in addition to the existing cash-based process), and the Trust has updated its official disclosures and tax guidance to reflect that change.
• The Sponsor states the transition to NYSE Arca’s Generic Listing Standards and the availability of in‑kind transactions is intended to position the Trust to maintain parity with similarly situated exchange‑traded products; investors should review the updated Exhibits (99.1–99.3) for details on mechanics and tax implications.