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

Total Real Returns

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

Growth of $10,000

Fri 2019-06-14💬 to Mon 2026-11-02 Overall
Return 		Exponential
Trendline
GBTC × 		+358.88%
+22.91%/yr 		+27.44%/yr
R2=0.494
Grayscale Bitcoin Trust (BTC) Exchange-Traded Fund
ETHE × 		+133.26%
+12.15%/yr 		+14.21%/yr
R2=0.206
Grayscale Ethereum Trust (ETH) NYSE Exchange-Traded Fund

Growth of $10,000 Summary

Fri 2019-06-14💬 to Mon 2026-11-02 Start
Value 		End
Value
GBTC × 		$10,000.00
2019-06-14 		$45,887.59
2026-11-02
ETHE × 		$10,000.00
2019-06-14 		$23,326.48
2026-11-02

This Year’s Performance

through 2026-11-02

  YTD YoY
GBTC × 		−17.14% −34.07%
ETHE × 		−28.17% −45.09%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
GBTC × 		−42.33%
on 2026-11-02
from 2025-10-06 peak 		−87.83%
on 2022-12-28
from 2021-02-19 peak
ETHE × 		−75.87%
on 2026-11-02
from 2019-06-21 peak 		−96.27%
on 2019-09-30
from 2019-06-21 peak

Rolling Returns

Period ending Mon 2026-11-02 1 yr 2 yr 3 yr 5 yr 10 yr
GBTC × 		−34.07% +0.30%
+0.15%/yr 		+119.11%
+29.88%/yr 		+6.10%
+1.19%/yr 		+3,942.27%
+44.76%/yr
ETHE × 		−45.09% −19.34%
−10.19%/yr 		+33.42%
+10.09%/yr 		−62.02%
−17.60%/yr 		—

Annual Returns

Year GBTC ETHE
2026 (YTD) −17.14% −28.17%
2025 −10.05% −15.29%
2024 +130.05% +57.47%
2023 +304.08% +295.16%
2022 −77.27% −86.18%
2021 −0.01% +95.05%
2020 +285.47% +434.46%
2019 +101.94% −57.23%
2018 −82.44% —
2017 +1,533.87% —
2016 +89.18% —
2015 +26.27% —