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 Fri 2026-08-21 Overall
Return 		Exponential
Trendline
GBTC × 		+367.93%
+23.95%/yr 		+27.97%/yr
R2=0.483
Grayscale Bitcoin Trust (BTC) Exchange-Traded Fund
ETHE × 		+154.26%
+13.87%/yr 		+14.80%/yr
R2=0.206
Grayscale Ethereum Trust (ETH) NYSE Exchange-Traded Fund

Growth of $10,000 Summary

Fri 2019-06-14💬 to Fri 2026-08-21 Start
Value 		End
Value
GBTC × 		$10,000.00
2019-06-14 		$46,793.22
2026-08-21
ETHE × 		$10,000.00
2019-06-14 		$25,426.30
2026-08-21

This Year’s Performance

through 2026-08-21

  YTD YoY
GBTC × 		−15.50% −34.51%
ETHE × 		−21.70% −45.33%

Drawdowns

  Current
Drawdown 		Worst
Drawdown
GBTC × 		−41.19%
on 2026-08-21
from 2025-10-06 peak 		−87.83%
on 2022-12-28
from 2021-02-19 peak
ETHE × 		−73.70%
on 2026-08-21
from 2019-06-21 peak 		−96.27%
on 2019-09-30
from 2019-06-21 peak

Rolling Returns

Period ending Fri 2026-08-21 1 yr 2 yr 3 yr 5 yr 10 yr
GBTC × 		−34.51% +14.21%
+6.87%/yr 		+251.53%
+52.05%/yr 		+36.28%
+6.39%/yr 		+4,341.28%
+46.13%/yr
ETHE × 		−45.33% −17.27%
−9.04%/yr 		+92.52%
+24.40%/yr 		−41.33%
−10.12%/yr 		—

Annual Returns

Year GBTC ETHE
2026 (YTD) −15.50% −21.70%
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% +434.46%
2019 +101.94% −57.23%
2018 −82.44% —
2017 +1,533.87% —
2016 +89.18% —
2015 +26.27% —