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Grayscale Bitcoin Trust (BTC) (GBTC)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Financials

Company Info

ISIN

US3896371099

CUSIP

389637109

Highlights

Year Range

$39.56 - $88.36

Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart


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S&P 500

Returns By Period

Grayscale Bitcoin Trust (BTC) (GBTC) returned 12.48% year-to-date (YTD) and 56.37% over the past 12 months. Over the past 10 years, GBTC delivered an annualized return of 75.56%, outperforming the S&P 500 benchmark at 10.84%.


GBTC

YTD

12.48%

1M

10.64%

6M

8.38%

1Y

56.37%

3Y*

70.13%

5Y*

53.69%

10Y*

75.56%

^GSPC (Benchmark)

YTD

0.52%

1M

6.32%

6M

-1.44%

1Y

12.25%

3Y*

12.45%

5Y*

14.20%

10Y*

10.84%

*Annualized

Monthly Returns

The table below presents the monthly returns of GBTC, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20258.63%-17.16%-2.16%13.96%12.10%12.48%
20249.73%45.70%14.13%-16.88%14.44%-11.40%9.67%-10.22%8.02%10.12%38.63%-3.98%139.76%
202346.56%-5.02%41.77%0.37%-15.41%38.16%-0.31%-2.20%2.57%39.45%13.02%14.47%317.61%
2022-23.39%12.00%3.91%-13.62%-22.14%-41.29%22.72%-15.27%-9.01%5.17%-24.58%-8.40%-75.80%
20218.41%24.53%15.83%-6.37%-35.50%-1.36%16.52%8.74%-10.38%46.80%-6.98%-25.90%7.03%
202033.09%-9.63%-27.72%38.62%10.33%-11.80%33.42%5.58%-18.92%40.20%50.80%37.97%290.72%
20190.63%11.78%7.18%38.28%67.32%36.80%-9.85%-14.08%-9.64%5.00%-13.94%-14.42%106.56%
2018-29.63%14.37%-41.17%51.10%-22.52%-30.54%22.16%-8.83%-16.42%-15.11%-25.96%-20.54%-82.10%
2017-10.81%6.00%0.96%18.59%251.53%-19.43%7.69%139.28%-30.15%18.00%83.62%32.96%1,562.39%
2016-31.75%30.23%-2.87%31.82%8.92%53.07%-20.53%-13.68%9.75%19.89%-8.71%23.50%93.08%
2015-21.42%-8.75%0.10%-13.75%7.72%21.05%32.73%40.01%50.01%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 82, GBTC is among the top 18% of stocks on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of GBTC is 8282
Overall Rank
The Sharpe Ratio Rank of GBTC is 8484
Sharpe Ratio Rank
The Sortino Ratio Rank of GBTC is 7979
Sortino Ratio Rank
The Omega Ratio Rank of GBTC is 7474
Omega Ratio Rank
The Calmar Ratio Rank of GBTC is 9191
Calmar Ratio Rank
The Martin Ratio Rank of GBTC is 8383
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Grayscale Bitcoin Trust (BTC) (GBTC) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Grayscale Bitcoin Trust (BTC) Sharpe ratios as of May 30, 2025 (values are recalculated daily):

  • 1-Year: 1.08
  • 5-Year: 0.76
  • 10-Year: 0.90
  • All Time: 0.81

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Grayscale Bitcoin Trust (BTC) compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.


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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Grayscale Bitcoin Trust (BTC) provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.


0.00%0.05%0.10%0.15%0.20%0.25%$0.00$0.01$0.02$0.03$0.04$0.0520172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017
Dividend$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.05

Dividend yield

0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.26%

Monthly Dividends

The table displays the monthly dividend distributions for Grayscale Bitcoin Trust (BTC). The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.00$0.00$0.00$0.00
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2020$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2019$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2018$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2017$0.05$0.05

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 Trust (BTC). 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 Trust (BTC) was 89.91%, occurring on Dec 14, 2018. Recovery took 517 trading sessions.

The current Grayscale Bitcoin Trust (BTC) drawdown is 5.08%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-89.91%Dec 19, 2017249Dec 14, 2018517Jan 5, 2021766
-86.24%Feb 22, 2021468Dec 28, 2022295Mar 4, 2024763
-57.96%May 7, 201578Aug 26, 201571Dec 8, 2015149
-48.42%Sep 1, 20179Sep 14, 201750Nov 24, 201759
-41.48%Jun 20, 201648Aug 25, 201689Jan 3, 2017137
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Financials

Financial Performance

The chart below illustrates the trends in the financial health of Grayscale Bitcoin Trust (BTC) over time, highlighting three key metrics: Total Revenue, Earnings Before Interest and Taxes (EBIT), and Net Income.


Annual
Quarterly

0.0

Valuation

The Valuation section provides an overview of how Grayscale Bitcoin Trust (BTC) is priced in the market compared to other companies in the Capital Markets industry. It includes key financial ratios that help investors assess whether the stock is undervalued or overvalued.


Income Statement



TTM
Revenue

Total Revenue

Cost Of Revenue

Gross Profit

Operating Expenses

Selling, General & Admin Expenses

R&D Expenses

Depreciation And Amortization

Total Operating Expenses

Income

Income Before Tax

Operating Income

EBITDA

EBIT

Earnings From Continuing Operations

Net Income

Income Tax Expense

Other Non-Operating Income (Expenses)

Extraordinary Items

Discontinued Operations

Effect Of Accounting Charges

Non Recurring

Minority Interest

Other Items

Interest Income

Interest Expense

Net Interest Income

Values in undefined except per share items