- Issuer
- Grayscale
- Inception Date
- Jul 31, 2024
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Cryptocurrency
- Assets Under Management
- $3B
Share Price Chart
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Performance
BTC Performance Chart
Grayscale Bitcoin Mini Trust ETF (BTC) is down 32.4% since the beginning of the year. BTC is currently trading at $26 per share.
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Returns By Period
Grayscale Bitcoin Mini Trust ETF (BTC) has returned -32.40% so far this year and -45.21% over the past 12 months.
Grayscale Bitcoin Mini Trust ETF
- 1D
- -1.10%
- 1M
- -21.99%
- YTD
- -32.40%
- 6M
- -32.19%
- 1Y
- -45.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.01%
- 1M
- -2.15%
- YTD
- 7.48%
- 6M
- 6.14%
- 1Y
- 20.77%
- 3Y*
- 19.34%
- 5Y*
- 11.44%
- 10Y*
- 13.91%
BTC Monthly Returns History
Based on dividend-adjusted daily data since Jul 31, 2024, BTC's average daily return is +0.02%, while the average monthly return is +0.31%. At this rate, an investment would double in approximately 18.7 years.
Historically, 46% of months were positive and 54% were negative. The best month was Nov 2024 with a return of +38.8%, while the worst month was Feb 2026 at -21.7%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, BTC closed higher 48% of trading days. The best single day was Nov 11, 2024 with a return of +13.7%, while the worst single day was Aug 5, 2024 at -14.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.26% | -21.74% | 3.34% | 12.74% | -3.93% | -19.40% | -32.40% | ||||||
| 2025 | 7.50% | -17.06% | -2.25% | 14.31% | 10.98% | 3.15% | 8.27% | -7.29% | 5.63% | -3.97% | -17.38% | -3.58% | -7.50% |
| 2024 | -1.87% | -10.19% | 8.27% | 10.30% | 38.78% | -2.83% | 41.93% |
Benchmark Metrics
Grayscale Bitcoin Mini Trust ETF has an annualized alpha of -16.50%, beta of 1.34, and R2 of 0.22 versus S&P 500 Index. Calculated based on daily prices since July 31, 2024.
- This ETF participated in 192.73% of S&P 500 Index downside but only 64.44% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.22 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -16.50%
- Beta
- 1.34
- R²
- 0.22
- Upside Capture
- 64.44%
- Downside Capture
- 192.73%
Expense Ratio
BTC has an expense ratio of 0.15%, which is considered low.
Return for Risk
Risk / Return Rank
BTC ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Grayscale Bitcoin Mini Trust ETF (BTC) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTC | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.83 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.30 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.29 | -3.15 |
| Martin ratioReturn relative to average drawdown | -1.47 | 10.09 | -11.55 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Grayscale Bitcoin Mini Trust ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Grayscale Bitcoin Mini Trust ETF was 52.89%, occurring on Jun 25, 2026. The portfolio has not yet recovered.
The current Grayscale Bitcoin Mini Trust ETF drawdown is 52.89%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -52.89%Jun 2026 | 8mo 21d | — | 8mo 22dOct 2025 - now |
2025 selloff2025 | -28.14%Apr 2025 | 3mo 21d | 1mo 12d | 5mo 3dDec 2024 - May 2025 |
2024 correction2024 | -19.49%Aug 2024 | 5d | 2mo 11d | 2mo 16dJul 2024 - Oct 2024 |
2025 correction2025 | -11.96%Aug 2025 | 15d | 1mo 8d | 1mo 23dAug 2025 - Oct 2025 |
2024 pullback2024 | -8.47%Nov 2024 | 1d | 10d | 11dNov 2024 - Dec 2024 |
Drawdown Indicators
| BTC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.89% | -56.78% | +3.89% |
Max Drawdown (1Y)Largest decline over 1 year | -52.89% | -9.10% | -43.79% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -52.89% | -3.32% | -49.57% |
Average DrawdownAverage peak-to-trough decline | -17.80% | -10.71% | -7.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.88% | 2.06% | +28.82% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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