GBTC Bitcoin ETF Review 2026

About Grayscale Bitcoin Trust ETF

Grayscale Bitcoin Trust ETF is a Bitcoin exchange-traded fund providing investors with exposure to Bitcoin.

Expense Ratio

1.50%

The Grayscale Bitcoin Trust ETF (GBTC) is a U.S.-based exchange-traded fund, launched in 2013 by Grayscale Investments, converted to a spot Bitcoin ETF on January 11, 2024, to provide exposure to Bitcoin’s price movements.
Directly invests in physical Bitcoin, tracking the CoinDesk Bitcoin Price Index (XBX), aiming to reflect Bitcoin’s market price in U.S. dollars, less the fund’s expenses and liabilities.
Trades on the NYSE Arca under the ticker GBTC, accessible through U.S. brokerage accounts, including certain IRAs, but not specifically noted for TFSA or RRSP eligibility due to its U.S. domicile.
As of July 26, 2025, GBTC’s stock price was USD 40.14, with a 52-week range of USD 17.00 to USD 42.00, a year-to-date return of 18.36%, and assets under management of approximately USD 22 billion.
High-risk due to Bitcoin’s extreme volatility, lack of Investment Company Act of 1940 protections, and counterparty risks with its custodian, suitable for investors with high risk tolerance.
Management and Fees: Passively managed with a 1.50% annual management fee, covering administration and Bitcoin safekeeping, considered high compared to other Bitcoin ETFs; full details in the prospectus.

Ticker Symbol	GBTC
Issuer	Grayscale
Expense Ratio	1.50%
Fund Type	Spot
Custodian	Coinbase Custody
Bitcoin Only	✓ Yes
Fund Inception	2013-09-25
Regulator	U.S. Securities and Exchange Commission (SEC)

Pure Bitcoin Spot

YTD Return

+3.76%

1 Year Return

+126.30%

Avg Volume

3,815,239

Grayscale Investments ($33+ billion AUM) offers the Grayscale Bitcoin Trust (GBTC), Bitcoin Mini Trust (BTC), Ethereum trusts, and thematic ETFs (miners, adopters, covered call). Largest crypto asset manager.