Grayscale Bitcoin Premium Income ETF (BPI) Performance
BPI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −4.1% since Dec 31, 2025
- 1 year
- −22.3% total return
- Since first price
- −5.4% since 2025
BPI trailing returns vs SPY, QQQ, AGG
| Period | BPI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.6% | −3.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +24.7% | +19.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.8% | −3.0% | +7.8% | +8.4% | −1.5% |
| YTD | −4.1% | −16.9% | +12.3% | +15.1% | −1.0% |
| 1 year | −22.3% | −35.7% | +14.4% | +15.9% | −1.1% |
| Since inceptionApr 2, 2025 | −5.4% | −29.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BPI vs SPY
From Apr 2, 2025: BPI grew to $9,460, SPY to $13,686.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BPI returns by calendar year
2026 is year to date.
BPI annual returns table
| Year | BPI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −4.1% | −36.5% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BPI largest drawdowns
Now 30.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −49.2% | Jun 30, 2026 | not yet | 9 months | 1.0 years so far |
| Aug 13, 2025 | −10.9% | Aug 29, 2025 | Oct 6, 2025 | 16 days | 54 days |
| Apr 2, 2025 | −10.2% | Apr 8, 2025 | Apr 21, 2025 | 6 days | 19 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BPI risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −8.5% |
| Volatility (annualized) | 39.6% |
| Sharpe ratio | -0.13 |
| Sortino ratio | -0.17 |
| Best month | +22.4% |
| Worst month | −20.3% |
| Best 12 months | −18.4% |
| Worst 12 months | −42.4% |
| Positive months | 53% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BPI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 7 | −42.4% | −24.7% | −18.4% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
BPI performance overview
Grayscale Bitcoin Premium Income ETF (BPI) returned −22.3% over the past year, with distributions reinvested. Since its first recorded price on Apr 2, 2025 it has returned −5.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −49.2%, from Oct 6, 2025 to Jun 30, 2026; the fund has not yet regained that high. Volatility has been 39.6% a year.
Related: BPI chart, BPI dividends. See the BPI overview for the latest quote and fund facts.
BPI performance FAQ
What is the BPI return over the past year?
BPI returned −22.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 35.7%.
How much would $10,000 invested in BPI be worth?
$10,000 invested in BPI at its first recorded close on April 2, 2025 would be worth about $9,460 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of BPI?
The largest peak-to-trough decline was −49.2% between October 6, 2025 and June 30, 2026. It has not yet recovered to that high; it is 30.4% below its peak.
How volatile is BPI?
Over the past history BPI had an annualized volatility of 39.6% and a Sharpe ratio of -0.13 (excess return over 1–3 month T-bills per unit of risk).