Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data Grayscale Bitcoin Trust ETF files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2024
FY2025
Net income
16,091
-994
Balance sheet
FY2024
FY2025
Cash and equivalents
0
0
Total assets
19,182
14,497
Total liabilities
0
0
Cash flow statement
FY2024
FY2025
Net income
16,091
-994
Change in payables
0
0
Cash from operations
21,487
3,699
Stock issued
782
628
Share buybacks
-22,269
-4,326
Cash from financing
-21,487
-3,699
Net change in cash
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $64.90 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-5.9%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Net income growth, 1y
-106.2%
Net income vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-82.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-24.4%
Total assets vs the same period a year earlier. Only from a positive base.
Balance sheet health
Metric
Value
How it is calculated
Liabilities / assets
0.0%
Total liabilities / total assets.
Valuation
Metric
Value
How it is calculated
Market cap
$11.18B
Share price x shares outstanding.
Enterprise value
$11.18B
Market cap + total debt - cash - short-term investments.
P/OCF
3.02x
Market cap / cash from operations, when positive.
Earnings yield
-8.9%
Net income / market cap (the inverse of P/E).
Shareholder yield
38.7%
(Dividends paid + share buybacks) / market cap.
Was Grayscale Bitcoin Trust ETF profitable in fiscal 2025?
No. It reported a net loss of $993.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.