Highlights
- EBITDA (TTM)
- -$43.28K
- Year Range
- $48.56 - $99.12
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Grayscale Bitcoin Trust (BTC), comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Grayscale Bitcoin Trust (BTC) (GBTC) has returned -23.71% so far this year and -21.37% over the past 12 months. Looking at the last ten years, GBTC has achieved an annualized return of 57.65%, outperforming the S&P 500 Index benchmark, which averaged 12.29% per year.
Grayscale Bitcoin Trust (BTC)
- 1D
- -1.70%
- 1M
- -1.72%
- YTD
- -23.71%
- 6M
- -45.88%
- 1Y
- -21.37%
- 3Y*
- 48.11%
- 5Y*
- 0.50%
- 10Y*
- 57.65%
Benchmark (S&P 500 Index)
- 1D
- 0.11%
- 1M
- -2.33%
- YTD
- -3.84%
- 6M
- -1.98%
- 1Y
- 29.73%
- 3Y*
- 16.86%
- 5Y*
- 10.37%
- 10Y*
- 12.29%
Monthly Returns
Based on dividend-adjusted daily data since May 4, 2015, GBTC's average daily return is +0.31%, while the average monthly return is +7.64%. At this rate, your investment would double in approximately 0.8 years.
Historically, 54% of months were positive and 46% were negative. The best month was May 2017 with a return of +251.5%, while the worst month was Jun 2022 at -41.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, GBTC closed higher 50% of trading days. The best single day was May 24, 2017 with a return of +41.2%, while the worst single day was May 18, 2015 at -28.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.37% | -21.78% | 3.19% | -1.16% | -23.71% | ||||||||
| 2025 | 8.63% | -17.16% | -2.16% | 13.96% | 11.04% | 2.86% | 8.19% | -7.40% | 5.62% | -4.18% | -17.45% | -3.73% | -7.65% |
| 2024 | 9.73% | 45.70% | 14.13% | -16.88% | 14.44% | -11.40% | -2.20% | -10.22% | 8.02% | 10.12% | 38.63% | -3.98% | 113.81% |
| 2023 | 46.56% | -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% |
| 2021 | 8.41% | 24.53% | 15.83% | -6.37% | -35.50% | -1.36% | 16.52% | 8.74% | -10.38% | 46.79% | -6.98% | -25.90% | 7.03% |
Benchmark Metrics
Grayscale Bitcoin Trust (BTC) has an annualized alpha of 93.08%, beta of 1.12, and R² of 0.06 versus S&P 500 Index. Calculated based on daily prices since May 05, 2015.
- This stock captured 325.40% of S&P 500 Index gains and 111.21% of its losses — amplifying both gains and losses, but participating more in upside than downside.
- R² of 0.06 means this stock 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
- 93.08%
- Beta
- 1.12
- R²
- 0.06
- Upside Capture
- 325.40%
- Downside Capture
- 111.21%
Return for Risk
Risk / Return Rank
GBTC ranks 20 for risk / return — in the bottom 20% of stocks 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 Trust (BTC) (GBTC) and compare them to a chosen benchmark (S&P 500 Index).
| GBTC | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.54 | 0.88 | -1.42 |
Sortino ratioReturn per unit of downside risk | -0.53 | 1.37 | -1.90 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.21 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | -0.45 | 1.39 | -1.84 |
Martin ratioReturn relative to average drawdown | -0.95 | 6.43 | -7.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore GBTC risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.24 |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||
| 2025 | $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 |
| 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 |
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 47.02%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -89.91% | Dec 19, 2017 | 249 | Dec 14, 2018 | 517 | Jan 5, 2021 | 766 |
| -86.24% | Feb 22, 2021 | 468 | Dec 28, 2022 | 295 | Mar 4, 2024 | 763 |
| -57.96% | May 7, 2015 | 78 | Aug 26, 2015 | 72 | Dec 8, 2015 | 150 |
| -49.55% | Oct 7, 2025 | 84 | Feb 5, 2026 | — | — | — |
| -48.42% | Sep 1, 2017 | 9 | Sep 14, 2017 | 36 | Nov 3, 2017 | 45 |
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.
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 | — |
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