GBTC
Grayscale Bitcoin Trust
GBTC is designed to reflect the value of Bitcoin held by the Trust, determined by reference to the Index Price, less the Trust’s expenses and other liabilities.
Crypto
CURRENCY
Passive
MANAGEMENT STYLE
28.2 B
ASSETS UNDER MGMT
150 bp
EXPENSES
Fund Basics
| Fund sponsor | Grayscale |
| Category | Crypto |
| Asset class | Currency |
| Website | link... |
| Inception date | Jan 10, 2024 |
| Assets (mns) | $29,138 |
| Expense ratio | 150 bp |
Fund Structure
| Regulation | |
| Distributions | |
| Taxation | |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Asset Allocation
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 24.0% | 76.3% | -- | -- | -- | -- | -- | 81.8% |
| Dividend Yield | 0.0% | 0.0% | -- | -- | -- | -- | -- | 0.0% |
| Total Returns | 24.0% | 76.3% | -- | -- | -- | -- | -- | 81.8% | Ann. Volatility | 42.6% | 50.3% | -- | -- | -- | -- | -- | 52.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 2,384 |
| ADV traded (mns) | $212 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.02% |
Technical Indicators
| Recent close | $88.89 |
| 30d moving avg. | $88.74 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 59 |
| Short interest | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Passive Crypto Currency ETFs |
| # of ETFs | 9 |
| Avg. Expense Ratio | 41.0 bp |
| Std. Deviation | 52.8 bp |
| GBTC (150 bp) Percentile rank | 98 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GBTC | 150.0 | 2.2 | 152.2 |
| Peer Avg. | 43.8 | 7.0 | 50.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .