Grayscale Bitcoin Trust switches Bitcoin valuation to CoinDesk XBX Index Price, dropping prior averaging

Grayscale Bitcoin Trust ETF

New Index Price removes additional daily averaging; uses raw 24-hour VWAP from CoinDesk XBX as of 4 pm NY time.
Historical average difference between Old and New Index Price was 0.31% from Jan 2019 to Dec 2021.
No change to index composition or exchange selection criteria; methodology aligns with publicly available XBX.
Old Index License Agreement with TradeBlock terminated Jan 31, 2022; new agreement effective Feb 1, 2022.

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