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 Wed 2026-09-30 Overall
Return 		Exponential
Trendline
GBTC × 		+404.79%
+24.84%/yr 		+27.68%/yr
R2=0.489
Grayscale Bitcoin Trust (BTC) Exchange-Traded Fund
ETHE × 		+179.38%
+15.12%/yr 		+14.51%/yr
R2=0.207
Grayscale Ethereum Trust (ETH) NYSE Exchange-Traded Fund

Growth of $10,000 Summary

Fri 2019-06-14💬 to Wed 2026-09-30 Start
Value 		End
Value
GBTC × 		$10,000.00
2019-06-14 		$50,478.98
2026-09-30
ETHE × 		$10,000.00
2019-06-14 		$27,937.77
2026-09-30

This Year’s Performance

through 2026-09-30

  YTD YoY
GBTC × 		−8.85% −30.43%
ETHE × 		−13.97% −38.68%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
GBTC × 		−36.56%
on 2026-09-30
from 2025-10-06 peak 		−87.83%
on 2022-12-28
from 2021-02-19 peak
ETHE × 		−71.10%
on 2026-09-30
from 2019-06-21 peak 		−96.27%
on 2019-09-30
from 2019-06-21 peak

Rolling Returns

Period ending Wed 2026-09-30 1 yr 2 yr 3 yr 5 yr 10 yr
GBTC × 		−30.43% +20.06%
+9.57%/yr 		+241.39%
+50.57%/yr 		+72.50%
+11.52%/yr 		+5,131.50%
+48.55%/yr
ETHE × 		−38.68% −6.81%
−3.46%/yr 		+102.36%
+26.49%/yr 		−29.78%
−6.83%/yr 		—

Annual Returns

Year GBTC ETHE
2026 (YTD) −8.85% −13.97%
2025 −10.05% −15.29%
2024 +130.05% +57.47%
2023 +304.08% +295.17%
2022 −77.27% −86.18%
2021 −0.01% +95.05%
2020 +285.47% +434.47%
2019 +101.94% −57.23%
2018 −82.44% —
2017 +1,533.87% —
2016 +89.18% —
2015 +26.27% —