---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-028539"
form_type: "8-K"
ticker: "GBTC"
cik: "0001588489"
company_name: "Grayscale Bitcoin Trust ETF"
filed_at: "2022-02-04T23:59:59+00:00"
generated_at: "2026-06-27T11:04:25.133284+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-028539
- form_type: 8-K
- ticker: GBTC
- cik: 0001588489
- company_name: Grayscale Bitcoin Trust ETF
- filed_at: 2022-02-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1588489/000119312522028539/0001193125-22-028539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1588489/000119312522028539/d466708d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-028539
- JSON: https://secwatch.observer/filing/0001193125-22-028539.json
- Plain text: https://secwatch.observer/filing/0001193125-22-028539.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.