All charts and data below are CPI-U inflation-adjusted and with dividends reinvested. (Why?)

Total Real Returns

GBTC: Total Real Return Chart (Dividends Reinvested, Inflation Adjusted)

GBTC real return snapshot: after CPI-U inflation, GBTC returned −47.30% over the past year and −28.53% YTD, with dividends reinvested. Since May 11, 2015, GBTC is up +7,149.28% in real purchasing-power return, or +46.63%/yr, and is currently −50.26% below its real total-return high on Oct. 6, 2025.

Data ending Mon Jul. 20, 2026

Growth of $10,000

Mon 2015-05-11💬 to Mon 2026-07-20 Overall
Return 		Exponential
Trendline
GBTC × 		+7,149.28%
+46.63%/yr 		+48.68%/yr
R2=0.746
Grayscale Bitcoin Trust (BTC) Exchange-Traded Fund

Growth of $10,000 Summary

Mon 2015-05-11💬 to Mon 2026-07-20 Start
Value 		End
Value
GBTC × 		$10,000.00
2015-05-11 		$724,928.04
2026-07-20

This Year’s Performance

through 2026-07-20

  YTD YoY
GBTC × 		−28.53% −47.30%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
GBTC × 		−50.26%
on 2026-07-20
from 2025-10-06 peak 		−90.12%
on 2019-02-06
from 2017-12-18 peak

Rolling Returns

Period ending Mon 2026-07-20 1 yr 2 yr 3 yr 5 yr 10 yr
GBTC × 		−47.30% −12.07%
−6.23%/yr 		+160.28%
+37.56%/yr 		+89.38%
+13.62%/yr 		+3,406.50%
+42.72%/yr

Annual Returns

Year GBTC
2026 (YTD) −28.53%
2025 −10.05%
2024 +130.05%
2023 +304.08%
2022 −77.27%
2021 −0.01%
2020 +285.47%
2019 +101.94%
2018 −82.44%
2017 +1,533.87%
2016 +89.18%
2015 +26.27%