BTCE.DE vs. GBTC
Compare and contrast key facts about ETC Group Physical Bitcoin (BTCE.DE) and Grayscale Bitcoin Trust (BTC) (GBTC).
BTCE.DE is an actively managed fund by ETC Issuance. It was launched on Jun 8, 2020.
Performance
BTCE.DE vs. GBTC - Performance Comparison
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BTCE.DE vs. GBTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | -21.07% | -18.20% | 125.79% | 146.52% | -63.89% | 81.36% | 164.73% |
GBTC Grayscale Bitcoin Trust (BTC) | -21.20% | -18.61% | 127.92% | 305.09% | -74.30% | 15.04% | 177.34% |
Different Trading Currencies
BTCE.DE is traded in EUR, while GBTC is traded in USD. To make them comparable, the GBTC values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with BTCE.DE having a -21.07% return and GBTC slightly lower at -21.20%.
BTCE.DE
- 1D
- 1.90%
- 1M
- -0.28%
- YTD
- -21.07%
- 6M
- -41.47%
- 1Y
- -26.25%
- 3Y*
- 28.44%
- 5Y*
- 1.29%
- 10Y*
- —
GBTC
- 1D
- 0.45%
- 1M
- -0.52%
- YTD
- -21.20%
- 6M
- -41.64%
- 1Y
- -26.30%
- 3Y*
- 44.85%
- 5Y*
- 1.21%
- 10Y*
- 58.32%
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Return for Risk
BTCE.DE vs. GBTC — Risk / Return Rank
BTCE.DE
GBTC
BTCE.DE vs. GBTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETC Group Physical Bitcoin (BTCE.DE) and Grayscale Bitcoin Trust (BTC) (GBTC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BTCE.DE | GBTC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.65 | -0.58 | -0.07 |
Sortino ratioReturn per unit of downside risk | -0.76 | -0.61 | -0.15 |
Omega ratioGain probability vs. loss probability | 0.91 | 0.93 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | -0.55 | -0.48 | -0.07 |
Martin ratioReturn relative to average drawdown | -1.19 | -1.02 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTCE.DE | GBTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.65 | -0.58 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.02 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.71 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.67 | -0.04 |
Correlation
The correlation between BTCE.DE and GBTC is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BTCE.DE vs. GBTC - Dividend Comparison
Neither BTCE.DE nor GBTC has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTCE.DE ETC Group Physical Bitcoin | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
Drawdowns
BTCE.DE vs. GBTC - Drawdown Comparison
The maximum BTCE.DE drawdown since its inception was -74.62%, smaller than the maximum GBTC drawdown of -89.54%. Use the drawdown chart below to compare losses from any high point for BTCE.DE and GBTC.
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Drawdown Indicators
| BTCE.DE | GBTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.62% | -89.91% | +15.29% |
Max Drawdown (1Y)Largest decline over 1 year | -49.76% | -49.55% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -74.62% | -85.80% | +11.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.91% | — |
Current DrawdownCurrent decline from peak | -45.14% | -46.10% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -29.99% | -43.48% | +13.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.23% | 23.39% | -0.16% |
Volatility
BTCE.DE vs. GBTC - Volatility Comparison
ETC Group Physical Bitcoin (BTCE.DE) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 13.04% and 12.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTCE.DE | GBTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 12.57% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 32.77% | 36.67% | -3.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.38% | 45.65% | -5.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.56% | 63.41% | -8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.34% | 82.34% | -24.00% |