Grayscale Bitcoin Trust ETF (GBTC)

Market Price (8/22/2026): $60.64

Grayscale Bitcoin Trust ETF (GBTC)

Market Price (8/22/2026): $60.64

Key Takeaways

GBTC has returned -9.5% YTD vs +12.6% for SPY; -29.8% over the past 12 months (SPY +21.5%). details →
Over the past month, GBTC has seen net outflows of −$154M (−1.8% of assets). details →
Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.6 vs 0.9. details →

Last updated: 8/21/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with GBTC

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+11.8%

Volatility

10.9%

Sharpe

0.83

YTD

+9.3%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	SPY	25.0%	0.4%	-1.4%	3.7%	12.6%
Bond	BND	50.0%	-0.2%	-0.1%	0.3%	-0.2%
Gold	GLD	10.0%	2.0%	5.4%	14.0%	6.8%
Commodity	DBC	2.5%	0.5%	4.2%	3.1%	39.8%
Real Estate	VNQ	5.0%	-0.1%	-0.3%	-0.2%	13.5%
Bitcoin	BTCUSD	0.0%	1.2%	17.4%	13.6%	-15.5%
Cash	GOVT	7.5%	-0.1%	-0.0%	0.0%	-0.7%
Conservative Portfolio		100.0%	0.2%	0.2%	2.6%	5.4%

	ETF	%	1D	1W	1M	YTD
Equity	SPY	55.0%	0.4%	-1.4%	3.7%	12.6%
Bond	BND	25.0%	-0.2%	-0.1%	0.3%	-0.2%
Gold	GLD	7.0%	2.0%	5.4%	14.0%	6.8%
Commodity	DBC	4.0%	0.5%	4.2%	3.1%	39.8%
Real Estate	VNQ	5.0%	-0.1%	-0.3%	-0.2%	13.5%
Bitcoin	BTCUSD	2.0%	1.2%	17.4%	13.6%	-15.5%
Cash	GOVT	2.0%	-0.1%	-0.0%	0.0%	-0.7%
Moderate Portfolio		100.0%	0.4%	0.1%	3.5%	9.3%

	ETF	%	1D	1W	1M	YTD
Equity	SPY	80.0%	0.4%	-1.4%	3.7%	12.6%
Bond	BND	5.0%	-0.2%	-0.1%	0.3%	-0.2%
Gold	GLD	3.0%	2.0%	5.4%	14.0%	6.8%
Commodity	DBC	2.2%	0.5%	4.2%	3.1%	39.8%
Real Estate	VNQ	4.5%	-0.1%	-0.3%	-0.2%	13.5%
Bitcoin	BTCUSD	5.2%	1.2%	17.4%	13.6%	-15.5%
Cash	GOVT	0.0%	-0.1%	-0.0%	0.0%	-0.7%
Aggressive Portfolio		100.0%	0.4%	0.1%	4.2%	11.0%

	ETF	%	Return	Volatility	Sharpe
Equity	SPY	25.0%	15.2%	15.3%	0.81
Bond	BND	50.0%	1.4%	5.2%	-0.24
Gold	GLD	10.0%	12.7%	15.6%	0.65
Commodity	DBC	2.5%	8.0%	17.2%	0.37
Real Estate	VNQ	5.0%	5.0%	17.5%	0.20
Bitcoin	BTCUSD	0.0%	62.1%	76.2%	0.94
Cash	GOVT	7.5%	0.4%	4.9%	-0.47
Conservative Portfolio		100.0%	6.3%	7.1%	0.51

	ETF	%	Return	Volatility	Sharpe
Equity	SPY	55.0%	15.2%	15.3%	0.81
Bond	BND	25.0%	1.4%	5.2%	-0.24
Gold	GLD	7.0%	12.7%	15.6%	0.65
Commodity	DBC	4.0%	8.0%	17.2%	0.37
Real Estate	VNQ	5.0%	5.0%	17.5%	0.20
Bitcoin	BTCUSD	2.0%	62.1%	76.2%	0.94
Cash	GOVT	2.0%	0.4%	4.9%	-0.47
Moderate Portfolio		100.0%	11.8%	10.9%	0.83

	ETF	%	Return	Volatility	Sharpe
Equity	SPY	80.0%	15.2%	15.3%	0.81
Bond	BND	5.0%	1.4%	5.2%	-0.24
Gold	GLD	3.0%	12.7%	15.6%	0.65
Commodity	DBC	2.2%	8.0%	17.2%	0.37
Real Estate	VNQ	4.5%	5.0%	17.5%	0.20
Bitcoin	BTCUSD	5.2%	62.1%	76.2%	0.94
Cash	GOVT	0.0%	0.4%	4.9%	-0.47
Aggressive Portfolio		100.0%	17.1%	15.0%	0.95

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	SPY	25.0%	-23.0%	-30.4%	-19.3%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	-15.5%	-11.7%	-4.5%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	SPY	55.0%	-23.0%	-30.4%	-19.3%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	-18.8%	-21.3%	-11.9%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	SPY	80.0%	-23.0%	-30.4%	-19.3%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	-23.2%	-28.8%	-18.1%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

Learn More →

Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

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Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Top 20 Holdings for GBTC

Total Weights
Top 5: 100.0% | Top 10: 100.0% | Top 20: 100.0%

	Holding	ETF Weight
	Bitcoin	100.00%

Performance for GBTC Top Holdings

null

Guidance Updates for GBTC Top Holdings

null

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
GBTC Return	-	-	-	105%	-8%	-10%	71%
Peers Return				65%	-8%	-19%	23%
S&P 500 Return	27%	-19%	24%	23%	16%	12%	103%
Monthly Win Rates [3]
GBTC Win Rate	-	-	-	58%	50%	60%
Peers Win Rate				50%	42%	50%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
GBTC Max Drawdown	-	-	-	-	-33%	-35%
Peers Max Drawdown					-42%	-45%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: IBIT, FBTC, ETHA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/21/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
GBTC	-0.87	0.59	0.59
Cryptocurrency Top Results (3Y)
GBTC	-0.87	0.59	0.59
IBIT	-1.27	0.39	0.39
FBTC	-1.27	0.39	0.39
ETHA	-0.77	-0.13	-0.13

Results as of 7312026.

Event	GBTC	S&P 500
2025 US Tariff Shock
% Loss	-20.3%	-18.8%
% Gain to Breakeven	25.5%	23.1%
Time to Breakeven	23 days	79 days

Compare to IBIT, FBTC, ETHA

In The Past

Grayscale Bitcoin Trust ETF's stock fell -20.3% during the 2025 US Tariff Shock. Such a loss loss requires a 25.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	GBTC	S&P 500
2025 US Tariff Shock
% Loss	-20.3%	-18.8%
% Gain to Breakeven	25.5%	23.1%
Time to Breakeven	23 days	79 days

Compare to IBIT, FBTC, ETHA

In The Past

Grayscale Bitcoin Trust ETF's stock fell -20.3% during the 2025 US Tariff Shock. Such a loss loss requires a 25.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

GBTC Dip Buy History

GBTC had 3 events since 1/11/2024 where the dip threshold of -5.0% within 60 days was triggered

47% median peak return within 1 year of dip event
286 days is the median time to peak return after a dip event
-28% median max drawdown within 1 year of dip event

60 Day Dip			GBTC Subsequent Performance
Date	GBTC	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			15%	47%	-28%	286
10152025	-7%	6%			-43%	12
2242025	-6%	1%	-28%	32%	-33%	224
6072024	-6%	4%	57%	61%	-22%	349

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 8/21/2026

GBTC had 3 events since 1/11/2024 where the dip threshold of -10% within 90 days was triggered

79% median peak return within 1 year of dip event
278 days is the median time to peak return after a dip event
-15% median max drawdown within 1 year of dip event

90 Day Dip			GBTC Subsequent Performance
Date	GBTC	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			45%	79%	-15%	278
11132025	-13%	8%			-35%	0
3312025	-10%	-4%	-17%	51%	-24%	189
7122024	-15%	10%	106%	108%	-6%	367

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 8/21/2026

GBTC had 1 events since 1/11/2024 where the dip threshold of -20% within 180 days was triggered

null median peak return within 1 year of dip event
N/A days is the median time to peak return after a dip event
null median max drawdown within 1 year of dip event

180 Day Dip			GBTC Subsequent Performance
Date	GBTC	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median
1302026	-21%	19%			-24%	0

[1] Dip event defined as first instance dip threshold is triggered within a 180-day time period.
[2] Analysis for period from 1/1/2005 to 8/21/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
MAGS	Roundhill Magnificent Seven ETF	-5.2%	67.28	8212026	70.94	5142026	99
IEMG	iShares Core MSCI Emerging Markets ETF	-5.2%	81.57	8212026	86.00	6222026	60
EEM	iShares MSCI Emerging Markets ETF	-5.7%	67.12	8212026	71.21	6222026	60
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-7.5%	34.49	8212026	37.30	6222026	60
EWY	iShares MSCI South Korea ETF	-18.6%	178.34	8212026	219.20	6212026	61
EWZ	iShares MSCI Brazil ETF	-16.0%	35.06	8212026	41.73	4142026	129
FXI	iShares China Large-Cap ETF	-7.6%	35.86	8212026	38.81	2222026	180
ILF	iShares Latin America 40 ETF	-9.0%	34.68	8212026	38.10	4142026	129
KWEB	KraneShares CSI China Internet ETF	-18.5%	26.66	8212026	32.70	2222026	180
MTUM	iShares MSCI USA Momentum Factor ETF	-11.6%	305.17	8212026	345.22	6222026	60
SPMO	Invesco S&P 500 Momentum ETF	-8.0%	148.73	8212026	161.66	6222026	60
URA	Global X Uranium ETF	-20.9%	46.07	8212026	58.26	5062026	107
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-13.4%	36.04	8212026	41.63	5132026	100
ROBO	ROBO Global Robotics & Automation Index ETF	-10.2%	81.17	8212026	90.34	6022026	80
LIT	Global X Lithium & Battery Tech ETF	-16.4%	76.61	8212026	91.62	5112026	102
ICLN	iShares Global Clean Energy ETF	-25.9%	17.59	8212026	23.75	6022026	80
ARKQ	ARK Autonomous Technology & Robotics ETF	-12.7%	125.58	8212026	143.82	5282026	85
ARKX	ARK Space & Defense Innovation ETF	-11.9%	33.25	8212026	37.74	5282026	85
NASA	Tema Space Innovators ETF	-41.2%	24.64	8212026	41.89	5272026	86
AGIX	KraneShares Artificial Intelligence ETF	-9.2%	44.85	8212026	49.40	6012026	81
VGT	Vanguard Information Technology ETF	-5.7%	118.42	8212026	125.62	6022026	80
XLK	State Street Technology Select Sector SPDR ETF	-7.5%	183.31	8212026	198.21	6022026	80
XLC	State Street Communication Services Select Sector SPDR ETF	-6.5%	111.40	8212026	119.10	4192026	124
XLU	State Street Utilities Select Sector SPDR ETF	-9.8%	42.77	8212026	47.40	3012026	173
SMH	VanEck Semiconductor ETF	-16.2%	560.42	8212026	668.91	6222026	60
SOXX	iShares Semiconductor ETF	-20.6%	520.05	8212026	655.01	6222026	60
ITA	iShares U.S. Aerospace & Defense ETF	-6.3%	237.34	8212026	253.22	8162026	5
MISL	First Trust Indxx Aerospace & Defense ETF	-10.1%	45.53	8212026	50.66	3022026	172
RING	iShares MSCI Global Gold Miners ETF	-8.6%	90.85	8212026	99.42	3012026	173
SOXQ	Invesco PHLX Semiconductor ETF	-19.7%	92.42	8212026	115.11	6222026	60
TLT	iShares 20+ Year Treasury Bond ETF	-8.0%	82.05	8212026	89.15	3012026	173
VGLT	Vanguard Long-Term Treasury ETF	-6.7%	52.75	8212026	56.53	3012026	173
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-7.1%	25.09	8212026	26.99	3012026	173
TLH	iShares 10-20 Year Treasury Bond ETF	-6.2%	96.69	8212026	103.08	3012026	173
EDV	Vanguard World Funds Extended Duration ETF	-11.7%	59.51	8212026	67.42	3012026	173
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	-5.3%	21.33	8212026	22.52	2262026	176
GSG	iShares GSCI Commodity	-5.8%	30.01	8212026	31.85	3182026	156
GLD	SPDR Gold Trust	-13.6%	423.36	8212026	490.00	3022026	172
IAU	iShares Gold Trust	-13.5%	86.79	8212026	100.38	3022026	172
GLDM	SPDR Gold MiniShares Trust	-13.5%	91.32	8212026	105.54	3022026	172
SGOL	ETFS Physical Swiss Gold Shares	-12.1%	44.66	8212026	50.81	3022026	172
BAR	Direxion Daily Gold Bull 3X Shares	-15.6%	44.34	8212026	52.53	3022026	172
SLV	iShares Silver Trust	-26.2%	62.72	8212026	84.99	3012026	173
SIVR	ETFS Physical Silver Shares Trust ETF	-6.6%	83.39	8212026	89.26	3012026	173
PPLT	ETFS Physical Platinum Shares	-20.7%	17.02	8212026	21.47	3012026	173
CPER	United States Copper Index Fund ETV	-9.6%	33.33	8212026	36.88	3012026	173
PALL	ETFS Physical Palladium Shares	-24.9%	24.45	8212026	32.54	2242026	178
USO	United States Oil Fund LP	-12.0%	134.64	8212026	152.96	5192026	94
UNG	United States Natural Gas Fund LP	-23.4%	9.99	8212026	13.04	3122026	162
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	8212026	60.13	5042026	109
IBIT	iShares Bitcoin Trust ETF	-6.0%	43.68	8212026	46.47	5112026	102
FBTC	Fidelity Wise Origin Bitcoin Fund	-6.1%	67.02	8212026	71.35	5112026	102

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-08-21

Asset allocation rotation · Past week

Commodity ETFs drew the largest net inflows (+$4.3B), followed by Bond (+$3.4B), while Equity (−$5.4B) and Real Estate (−$324M) saw the largest outflows.
Within the mix, money rotated into Gold (+$3.9B) and out of Broad Sector (−$3.8B).
Relative to fund size, CNEQ drew the largest inflow (+38.3% of AUM) and KRE the largest outflow (−14.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$4.3B	+0.4%
2	GLD	SPDR Gold Shares	Commodity Gold	+$3.38B	+2.3%
3	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$2.86B	+14.2%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$1.69B	+1.6%
5	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$1.58B	+0.2%
6	IBIT	iShares Bitcoin Trust ETF	Crypto	+$1.27B	+2.5%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$1.08B	+2.3%
8	VCIT	Vanguard Intermediate-Term Corporate Bond ETF	Bond Intermediate Corporate	+$1.05B	+1.5%
9	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$843M	+0.5%
10	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$827M	+0.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$635M	+38.3%
2	BFLX	iShares Flexible Equity Active ETF	Other	+$414M	+20.3%
3	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$282M	+18.3%
4	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$232M	+15.9%
5	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$2.86B	+14.2%
6	USMC	Principal U.S. Mega-Cap ETF	Other	+$701M	+13.9%
7	SPHB	Invesco S&P 500 High Beta ETF	Other	+$101M	+10.0%
8	FLDR	Fidelity Low Duration Bond Factor ETF	Other	+$199M	+9.5%
9	ETHA	iShares Ethereum Trust ETF	Crypto	+$503M	+7.7%
10	GRNY	Tidal Trust III - Fundstrat Granny Shots US Large Cap ETF	Other	+$335M	+7.6%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$8.51B	-1.0%
2	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.85B	-3.3%
3	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$1.83B	-0.4%
4	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.16B	-6.6%
5	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$1.13B	-1.7%
6	XLV	State Street Health Care Select Sector SPDR ETF	Equity Broad Sector	-$946M	-2.1%
7	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$930M	-1.1%
8	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$791M	-2.4%
9	SPHQ	Invesco S&P 500 Quality ETF	Equity Factor Smart Beta	-$639M	-3.3%
10	VCSH	Vanguard Short-Term Corporate Bond ETF	Bond Short Corporate	-$614M	-1.4%

#	Ticker	Name	Type	Net flow	% of AUM
1	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	-$602M	-14.8%
2	XNTK	State Street SPDR NYSE Technology ETF	Other	-$215M	-10.8%
3	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$198M	-8.9%
4	CORP	PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund	Other	-$128M	-8.4%
5	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$1.16B	-6.6%
6	IFRA	iShares U.S. Infrastructure ETF	Other	-$278M	-6.4%
7	PCY	Invesco Emerging Markets Sovereign Debt ETF	Other	-$72M	-5.5%
8	XHB	State Street SPDR S&P Homebuilders ETF	Other	-$55M	-4.0%
9	BALI	iShares U.S. Large Cap Premium Income Active ETF	Other	-$51M	-3.7%
10	MAGS	Roundhill Magnificent Seven ETF	Equity US Large Concentrated	-$155M	-3.7%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$53.1B), followed by Bond (+$17.1B), while Real Estate (−$135M) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$20.0B) and out of Industry Subsector (−$3.2B).
Relative to fund size, CNEQ drew the largest inflow (+88.9% of AUM) and FTXL the largest outflow (−69.6%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$16.16B	+3.4%
2	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$15.84B	+1.5%
3	GLD	SPDR Gold Shares	Commodity Gold	+$5.8B	+4.2%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$5.8B	+5.7%
5	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$5.56B	+3.3%
6	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$5.25B	+12.3%
7	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$4.36B	+0.6%
8	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$4.14B	+0.5%
9	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$4.06B	+3.8%
10	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$3.86B	+3.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$901M	+88.9%
2	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$792M	+54.5%
3	USMC	Principal U.S. Mega-Cap ETF	Other	+$1.43B	+39.0%
4	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$420M	+29.3%
5	BFLX	iShares Flexible Equity Active ETF	Other	+$452M	+27.1%
6	SOXQ	Invesco PHLX Semiconductor ETF	Equity Industry Subsector	+$637M	+22.6%
7	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$292M	+22.2%
8	CBOX		Other	+$258M	+19.7%
9	DFAL		Other	+$316M	+19.6%
10	FLKR	Franklin FTSE South Korea ETF	Other	+$245M	+17.3%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$16.29B	-1.8%
2	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.27B	-9.1%
3	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.79B	-3.1%
4	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$1.59B	-4.8%
5	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$1.44B	-1.8%
6	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$1.4B	-3.2%
7	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$1.39B	-2.0%
8	MTUM	iShares MSCI USA Momentum Factor ETF	Equity Factor Smart Beta	-$1.07B	-4.2%
9	XLV	State Street Health Care Select Sector SPDR ETF	Equity Broad Sector	-$971M	-2.3%
10	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$932M	-69.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$932M	-69.6%
2	XHB	State Street SPDR S&P Homebuilders ETF	Other	-$397M	-26.7%
3	RING	iShares MSCI Global Gold Miners ETF	Equity Industry Subsector	-$485M	-21.6%
4	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$186M	-18.2%
5	OIH	VanEck Oil Services ETF	Other	-$272M	-14.1%
6	USO	United States Oil Fund, LP	Commodity Energy	-$277M	-13.4%
7	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$228M	-12.8%
8	BAB	Invesco Taxable Municipal Bond ETF	Other	-$119M	-11.8%
9	TAN	Invesco Solar ETF	Other	-$141M	-10.4%
10	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$891M	-9.9%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$170.5B), followed by Bond (+$67.7B), while Crypto (−$4.0B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$53.9B) and out of International Small Cap (−$1.0B).
Relative to fund size, ACYN drew the largest inflow (+109.5% of AUM) and IYM the largest outflow (−57.9%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$29.4B	+3.4%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$21.95B	+13.9%
3	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$19.44B	+2.5%
4	DRAM	Roundhill Memory ETF	Other	+$18.29B	+78.0%
5	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$14.12B	+14.5%
6	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$13.99B	+2.1%
7	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$13.13B	+2.7%
8	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$11.65B	+11.8%
9	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.85B	+10.0%
10	VXUS	Vanguard Total International Stock ETF	Equity International Broad	+$8.15B	+5.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.18B	+109.5%
2	DRAM	Roundhill Memory ETF	Other	+$18.29B	+78.0%
3	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$792M	+66.6% ⚠
4	NASA	Tema Space Innovators ETF	Equity Thematic	+$796M	+59.9%
5	FLKR	Franklin FTSE South Korea ETF	Other	+$725M	+56.9%
6	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$4.26B	+55.4%
7	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.13B	+54.8% ⚠
8	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$2.54B	+51.2% ⚠
9	CBOX		Other	+$555M	+48.4%
10	IHE	iShares U.S. Pharmaceuticals ETF	Other	+$644M	+48.4%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$16.89B	-1.7%
2	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$6.11B	-13.2%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.58B	-46.3%
4	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$4.41B	-9.4%
5	IQMM	ProShares - GENIUS Money Market ETF	Other	-$3.38B	-16.6%
6	IBIT	iShares Bitcoin Trust ETF	Crypto	-$2.7B	-5.6%
7	IAU	iShares Gold Trust	Commodity Gold	-$2.69B	-4.3%
8	XLE	State Street Energy Select Sector SPDR ETF	Equity Broad Sector	-$2.33B	-6.0%
9	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.24B	-34.5%
10	IVE	iShares S&P 500 Value ETF	Equity US Large Value	-$2.21B	-4.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$698M	-57.9%
2	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.58B	-46.3%
3	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$907M	-38.2%
4	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$1.55B	-35.2%
5	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.24B	-34.5%
6	KWEB	KraneShares CSI China Internet ETF	Equity Emerging Markets	-$1.57B	-28.8%
7	RING	iShares MSCI Global Gold Miners ETF	Equity Industry Subsector	-$549M	-23.9%
8	ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	Equity Emerging Markets	-$370M	-23.2%
9	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$2.09B	-23.0%
10	AKRE	Akre Focus ETF	Equity US Large Growth	-$1.19B	-22.3%

Largest ETF fund flows across ~2622 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About GBTC

Holdings Count: 0
Expense Ratio: 1.5%
Inception Date: 2013-09-25

Grayscale Bitcoin Trust ETF
The Grayscale Bitcoin Trust ETF offers dedicated, passive investment exposure solely to Bitcoin. Its primary goal is to replicate the market price of the Bitcoin assets held by the Trust, net of all associated costs and financial obligations. Bitcoin itself is a digital asset, brought into existence and circulated via the peer-to-peer Bitcoin Network. This network operates as a decentralized collection of computers, secured by cryptographic protocols, allowing users to exchange Bitcoins—digital tokens of value—which are permanently recorded on a transparent public transaction ledger known as a Blockchain.
Asset Class: Alternatives | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TMC	TMC The Metals	2.0	20.7%	-22.4%
EMAT	Evolution Metals & Technologies	2.4	19.2%	-81.4%
SLS	SELLAS Life Sciences	2.7	15.4%	310.1%
UEC	Uranium Energy	6.3	14.4%	9.2%
HOOD	Robinhood Markets	97.2	13.7%	-4.4%
ASST	Strive	1.1	13.0%	23.4%
USAR	USA Rare Earth	3.8	12.6%	61.8%
OI	O-I Glass	1.1	12.5%	-51.4%
INFQ	Infleqtion	1.7	12.5%	-9.4%
EZPW	EZCORP	2.0	12.0%	65.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
HUT	Hut 8	9.0	-8.8%	76.0%
CIFR	Cipher Digital	6.4	-8.4%	6.8%
CCOI	Cogent Communications	0.4	-8.2%	-57.3%
IOVA	Iovance Biotherapeutics	3.5	-7.8%	203.7%
SWMR	Swarmer	0.7	-7.4%	37.1%
BKV	BKV	2.5	-7.3%	-10.9%
ABTC	American Bitcoin	8.1	-6.4%	-68.9%
FEIM	Frequency Electronics	0.6	-5.9%	14.6%
MRVL	Marvell Technology	209.1	-5.6%	179.3%
RIOT	Riot Platforms	6.9	-5.5%	56.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
MRNA	Moderna	57.3	129.2%	392.1%
AMLX	Amylyx Pharmaceuticals	4.3	78.7%	220.0%
PURR	Hyperliquid Strategies	1.3	58.4%	197.2%
MRVI	Maravai LifeSciences	1.3	51.6%	165.8%
ASST	Strive	1.1	47.9%	23.4%
TEM	Tempus AI	13.0	39.5%	23.1%
XXI	Twenty One Capital	4.2	35.8%	-25.9%
WEAV	Weave Communications	0.6	33.5%	-4.0%
EMAT	Evolution Metals & Technologies	2.4	31.0%	-81.4%
PSNL	Personalis	1.9	30.9%	130.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
EYPT	EyePoint	0.5	-63.9%	-70.9%
FTK	Flotek Industries	0.9	-31.1%	43.2%
BALY	Ballys	0.6	-26.9%	-38.1%
AAP	Advance Auto Parts	2.6	-24.7%	10.0%
AEHR	Aehr Test Systems	3.1	-24.1%	403.9%
FN	Fabrinet	15.6	-23.4%	-4.1%
AMRC	Ameresco	1.1	-23.4%	-27.0%
ENVX	Enovix	0.7	-23.0%	-53.8%
SHAZ	SharonAI	0.8	-22.7%	-36.1%
FEIM	Frequency Electronics	0.6	-21.6%	14.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MRNA	Moderna	57.3	154.5%	392.1%
AMLX	Amylyx Pharmaceuticals	4.3	119.8%	220.0%
TEAM	Atlassian	44.8	114.4%	6.0%
HTFL	HeartFlow	4.3	102.2%	70.7%
ABCL	AbCellera Biologics	3.4	99.6%	231.0%
OMER	Omeros	1.4	87.5%	12.2%
NIQ	NIQ Global Intelligence	5.5	80.1%	13.9%
LIFE	Ethos Technologies	1.6	79.5%	4042.6%
APPN	Appian	2.8	74.4%	8.1%
RNG	RingCentral	5.6	73.9%	133.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TENX	Tenax Therapeutics	0.1	-88.0%	-85.6%
SION	Sionna Therapeutics	0.2	-88.0%	-87.1%
MPLT	MapLight Therapeutics	0.5	-68.2%	-36.2%
EYPT	EyePoint	0.5	-57.3%	-70.9%
TDUP	ThredUp	0.4	-51.4%	-56.3%
AHCO	AdaptHealth	0.8	-46.2%	-43.5%
KLC	KinderCare Learning Companies	0.3	-43.1%	-36.3%
UTI	Universal Technical Institute	1.2	-42.2%	-14.5%
LMB	Limbach	0.5	-42.1%	-44.9%
REZI	Resideo Technologies	3.1	-40.5%	-42.3%

Peer Comparisons

Peers to compare with:

Profile

	GBTC	IBIT	FBTC	ETHA	Median
Name	Grayscale .	iShares Bi.	Fidelity W.	iShares Et.
Asset Class	Cryptocurrency	Cryptocurrency	Cryptocurrency	Cryptocurrency	-
AUM ($ Bil)	8.4	47.0	10.8	5.6	9.6
Expense Ratio	1.50%	0.25%	0.25%	0.25%	0.25%
10-D Avg Volume (Mil)	1.93	42.11	3.91	28.10	16.01
Latest Day Volume (Mil)	5.54	138.24	-	92.04	92.04
Holdings Count	0	1	0	1	0
Inception Date	9/25/2013	1/5/2024	1/10/2024	6/24/2024	-

Fundamentals

	GBTC	IBIT	FBTC	ETHA	Median
Name	Grayscale .	iShares Bi.	Fidelity W.	iShares Et.
Net Asset Value	49.74	35.58	55.95	14.15	-
Premium/Discount	-	22.8%	19.8%	28.9%	22.8%
Distribution Yield	-	0.0%	0.0%	0.0%	0.0%
Sales Yield	-	-	-	-	-
Earnings Yield	-	-	-	-	-

Valuation

	GBTC	IBIT	FBTC	ETHA	Median
Name	Grayscale .	iShares Bi.	Fidelity W.	iShares Et.
P/S (TTM)	-	-	-	-	-
P/E (TTM)	-	-	-	-	-
P/FCF (TTM)	-	-	-	-	-
Forward P/E	-	-	-	-	-
Forward P/S	-	-	-	-	-

Risk

	GBTC	IBIT	FBTC	ETHA	Median
Name	Grayscale .	iShares Bi.	Fidelity W.	iShares Et.
Volatility (1Y)	46.9%	45.3%	45.1%	67.1%	46.1%
Volatility (3Y)	51.3%	49.4%	49.4%	71.4%	50.4%
Volatility (5Y)	51.3%	49.4%	49.4%	71.4%	50.4%
Beta (1Y)	1.96	1.71	1.69	2.66	1.83
Beta (3Y)	1.36	1.30	1.30	2.16	1.33
Beta (5Y)	1.36	1.30	1.30	2.16	1.33
Sharpe Ratio (1Y)	-0.86	-0.65	-0.65	-0.55	-0.65
Sharpe Ratio (3Y)	0.71	0.63	0.63	0.11	0.63
Sharpe Ratio (5Y)	0.71	0.63	0.63	0.11	0.63
Max Drawdown (1Y)	-49.5%	-53.3%	-53.4%	-67.9%	-53.3%
Max Drawdown (3Y)	-49.5%	-53.3%	-53.4%	-67.9%	-53.3%
Max Drawdown (5Y)	-49.5%	-53.3%	-53.4%	-67.9%	-53.3%

Returns

	GBTC	IBIT	FBTC	ETHA	Median
Name	Grayscale .	iShares Bi.	Fidelity W.	iShares Et.
1M Return	-	19.2%	18.9%	29.3%	19.2%
3M Return	-	-0.7%	-0.8%	12.9%	-0.7%
6M Return	-	13.7%	13.6%	22.5%	13.7%
YTD Return	-	-12.0%	-12.1%	-18.7%	-12.1%
1Y Return	-	-32.7%	-32.8%	-44.6%	-32.8%
2Y Return	-	28.4%	28.3%	-8.3%	28.3%
3Y Return	-	-	-	-	-

Short Interest

Short Interest: As Of Date	7312026
Short Interest: Shares Quantity	1.9 Mil
Short Interest: % Change Since 7152026	-7.2%
Average Daily Volume	1.5 Mil
Days-to-Cover Short Interest	1.3 days

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Grayscale Bitcoin Trust ETF (GBTC)

Market Price (8/22/2026): $60.64

Grayscale Bitcoin Trust ETF (GBTC)

Market Price (8/22/2026): $60.64

Key Takeaways

Price Chart

Asset Allocation with GBTC

Valuation & Yield

Top 20 Holdings for GBTC

Performance for GBTC Top Holdings

Guidance Updates for GBTC Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

GBTC Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

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Trade & Investment Ideas

Wealth

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About GBTC

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Top Gainers

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