Grayscale Bitcoin Mini Trust (BTC) (BTC) Performance
BTC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −7.3% since Dec 31, 2025
- 1 year
- −26.5% total return
- Since first price
- +24.0% since 2024
BTC trailing returns vs SPY, QQQ, AGG
| Period | BTC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.0% | −4.0% | −1.0% | −5.0% | +0.9% |
| 3 months | +25.3% | +25.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.3% | +4.3% | +7.8% | +8.4% | −1.5% |
| YTD | −7.3% | −7.3% | +12.3% | +15.1% | −1.0% |
| 1 year | −26.5% | −26.5% | +14.4% | +15.9% | −1.1% |
| Since inceptionJul 31, 2024 | +24.0% | +24.0% | — | — | — |
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: BTC vs SPY
From Jul 31, 2024: BTC grew to $12,398, SPY to $14,159.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BTC returns by calendar year
0 of 1 full years positive. Best 2025 (−7.5%), worst 2025 (−7.5%). 2026 is year to date.
BTC annual returns table
| Year | BTC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −7.3% | −40.0% | +12.3% | +15.1% | −1.0% |
| 2025 | −7.5% | −32.6% | +17.7% | +20.8% | +7.2% |
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.
BTC largest drawdowns
Now 35.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 6, 2025 | −53.3% | Jun 30, 2026 | not yet | 9 months | 1.0 years so far |
| Dec 17, 2024 | −28.1% | Apr 8, 2025 | May 20, 2025 | 4 months | 5 months |
| Jul 31, 2024 | −18.0% | Aug 5, 2024 | Sep 27, 2024 | 5 days | 58 days |
| Aug 13, 2025 | −12.0% | Aug 29, 2025 | Oct 6, 2025 | 16 days | 54 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BTC risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +11.9% |
| Volatility (annualized) | 47.5% |
| Sharpe ratio | 0.37 |
| Sortino ratio | 0.62 |
| Best month | +38.8% |
| Worst month | −21.7% |
| Best 12 months | +84.3% |
| Worst 12 months | −46.2% |
| Positive months | 54% |
| 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.
BTC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 16 | −46.2% | −18.4% | +84.3% | 25% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
BTC performance overview
Grayscale Bitcoin Mini Trust (BTC) (BTC) returned −26.5% over the past year, with distributions reinvested. Since its first recorded price on Jul 31, 2024 it has returned +24.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −53.3%, from Oct 6, 2025 to Jun 30, 2026; the fund has not yet regained that high. Volatility has been 47.5% a year.
Related: BTC chart. See the BTC overview for the latest quote and fund facts.
BTC performance FAQ
What is the BTC return over the past year?
BTC returned −26.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 26.5%.
How much would $10,000 invested in BTC be worth?
$10,000 invested in BTC at its first recorded close on July 31, 2024 would be worth about $12,398 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of BTC?
The largest peak-to-trough decline was −53.3% between October 6, 2025 and June 30, 2026. It has not yet recovered to that high; it is 35.4% below its peak.
How volatile is BTC?
Over the past history BTC had an annualized volatility of 47.5% and a Sharpe ratio of 0.37 (excess return over 1–3 month T-bills per unit of risk).