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 2026-07-27 Overall
Return 		Exponential
Trendline
GBTC × 		+294.22%
+21.25%/yr 		+28.40%/yr
R2=0.483
Grayscale Bitcoin Trust (BTC) Exchange-Traded Fund
ETHE × 		+105.03%
+10.61%/yr 		+15.29%/yr
R2=0.212
Grayscale Ethereum Trust (ETH) NYSE Exchange-Traded Fund

Growth of $10,000 Summary

Fri 2019-06-14💬 to Mon 2026-07-27 Start
Value 		End
Value
GBTC × 		$10,000.00
2019-06-14 		$39,421.89
2026-07-27
ETHE × 		$10,000.00
2019-06-14 		$20,502.67
2026-07-27

This Year’s Performance

through 2026-07-27

  YTD YoY
GBTC × 		−28.81% −47.21%
ETHE × 		−36.86% −49.14%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
GBTC × 		−50.46%
on 2026-07-27
from 2025-10-06 peak 		−87.83%
on 2022-12-28
from 2021-02-19 peak
ETHE × 		−78.79%
on 2026-07-27
from 2019-06-21 peak 		−96.27%
on 2019-09-30
from 2019-06-21 peak

Rolling Returns

Period ending Mon 2026-07-27 1 yr 2 yr 3 yr 5 yr 10 yr
GBTC × 		−47.21% −13.35%
−6.91%/yr 		+176.26%
+40.32%/yr 		+37.44%
+6.57%/yr 		+3,565.23%
+43.35%/yr
ETHE × 		−49.14% −46.09%
−26.58%/yr 		+53.01%
+15.23%/yr 		−29.08%
−6.64%/yr 		—

Annual Returns

Year GBTC ETHE
2026 (YTD) −28.81% −36.86%
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% —