Grayscale Bitcoin Adopters ETF financials
$27.45−2.35%
Close Sep 28, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Quarter | Q1 '17 Mar 31 | Q4 '16 Dec 31 | Q3 '16 Sep 30 | Q2 '16 Jun 30 | Q1 '16 Mar 31 | Q4 '15 Dec 31 | Q3 '15 Sep 30 | Q2 '15 Jun 30 | Q1 '15 Mar 31 | Q4 '14 Dec 31 | Q3 '14 Sep 30 | Q2 '14 Jun 30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $182.4M | $86.8M | $83.2M | $120.1M | $165.8M | $2.9M | $2.9M | $30.9M | $81.1M | $108.1M | $114.9M | $141.6M |
| Gross profit | $122.6M | $29.2M | $26.9M | $67.0M | $109.6M | -$532.0K | -$206.0K | $27.7M | $77.1M | $38.7M | $39.5M | $62.2M |
| Gross margin | 67.2% | 33.6% | 32.4% | 55.8% | 66.1% | −18.6% | −7.2% | 89.5% | 95.1% | 35.8% | 34.4% | 43.9% |
| Operating income | $43.9M | -$14.2M | -$10.5M | $22.4M | $39.4M | -$28.7M | -$16.1M | $7.6M | $32.3M | -$69.5M | -$1.3M | $17.8M |
| Net income | $30.6M | -$19.3M | -$54.1M | -$14.4M | $22.7M | -$56.8M | -$10.6M | $4.3M | $23.1M | -$68.0M | -$2.2M | $8.7M |
| Net margin | 16.8% | −22.2% | −65.0% | −12.0% | 13.7% | −1983.0% | −369.1% | 13.8% | 28.5% | −62.9% | −1.9% | 6.2% |
| Diluted EPS | $0.67 | $-0.49 | $-1.30 | $-0.34 | $0.54 | $-1.38 | $-0.26 | $0.10 | $0.55 | $-1.61 | $-0.05 | $0.20 |
| EBITDA | $56.0M | -$10.3M | -$1.0M | $31.9M | $49.6M | -$28.7M | -$10.0M | $13.7M | $38.3M | -$69.5M | $8.9M | $28.0M |
| Operating cash flow | $52.9M | -$879.0K | -$4.2M | $26.6M | $78.5M | $3.4M | -$8.4M | $4.5M | $30.9M | $10.4M | $15.9M | $8.7M |
| Free cash flow | $51.7M | -$2.0M | -$5.3M | $25.7M | $77.8M | $2.7M | -$8.6M | $4.2M | $30.7M | $8.2M | $14.5M | $7.0M |
| Diluted shares | 45.4M | 41.5M | 41.6M | 42.3M | 41.6M | 41.0M | 41.0M | 41.9M | 41.9M | 41.4M | 41.0M | 43.1M |
Balance sheet
| Period end | Mar 31 | Dec 31 | Sep 30 | Jun 30 | Mar 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $74.6M | $51.7M | $71.2M | $74.3M | $68.0M | $55.5M |
| Short-term investments | $160.0K | $7.1M | $4.5M | $7.8M | $11.6M | $11.3M |
| Total debt | $380.2M | $415.0M | $450.0M | $491.3M | $508.9M | $571.4M |
| Total assets | $1.03B | $1.02B | $1.11B | $1.22B | $1.27B | $1.30B |
| Total liabilities | $505.9M | $589.9M | $647.3M | $689.5M | $744.8M | $822.2M |
| Shareholders' equity | $505.5M | $417.0M | $451.5M | $511.1M | $509.8M | $462.3M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology