The latest price of GBTC is $90.34 , with a change of -2.06% in the last 24 hours. The 52-week high for GBTC is $96.62 , and the 52-week low is $46.83 .

Today's GBTC premium/discount to NAV

Shares outstanding226.05M GBTC

BTC holdings177.38K BTC

NAV per share$90.37

BTC change (1D)

-7.29 BTC(0.00%)

Premium/Discount-0.03%

BTC change (7D)

-592.64 BTC(-0.33%)

GBTC volume

Volume (GBTC)1.69M (GBTC)

10-day average volume (GBTC)13.95K (GBTC)

Volume (USD)$153.76M

10-day average volume (USD)$1.26M

GBTC net flow

Time (UTC)	Net flow (USD)	Net flow (BTC)
2025-09-19	-$23.5M	-203.34 BTC
2025-09-18	$0.00	0.00 BTC
2025-09-17	-$62.6M	-537.79 BTC
2025-09-16	$0.00	0.00 BTC
2025-09-15	$0.00	0.00 BTC
2025-09-12	$0.00	0.00 BTC
2025-09-11	$0.00	0.00 BTC
2025-09-10	+$8.9M	+78.14 BTC
2025-09-09	$0.00	0.00 BTC
2025-09-08	+$4.4M	+39.28 BTC
2025-09-05~2024-01-11	-$23.96B	-406.62K BTC
Total	-$24.03B	-407.25K BTC

What is Grayscale Bitcoin Trust ETF (GBTC)

Trading platform

ARCX

Asset class

Spot

Assets under management

$20.43B

Expense ratio

1.5%

Issuer

Grayscale Investments, LLC

Fund family

Grayscale

Inception date

2013-09-25

ETF homepage

GBTC homepage

Grayscale Bitcoin Trust ETF (Tricker: GBTC) is solely and passively invested in Bitcoin. Its investment objective is to reflect the value of Bitcoin held by the Trust.

Grayscale Bitcoin Trust's purpose is to hold Bitcoins, which are digital assets that are created and transmitted through the operations of the peer-to-peer Bitcoin Network, a decentralized network of computers that operates on cryptographic protocols.

GBTC is one of the first spot Bitcoin ETPs in the US. A spot Bitcoin ETP is solely and passively invested in Bitcoin, whose shares are designed to reflect the value of BTC held by the Trust, determined by reference to the Index Price, less the Trust's expenses and other liabilities.

GBTC allows investors to gain exposure to Bitcoin through a familiar investment vehicle, without the need to set up an account or wallet on a cryptocurrency trading platform. Similar to how investors use ETPs to hold other commodities, like gold or silver, they can now invest in Bitcoin through GBTC.

GBTC does not trade, buy, sell or hold Bitcoin derivatives, including Bitcoin futures contracts. This product is not levered.

First to Trade: GBTC was the first spot Bitcoin exchange-traded product to commence trading in the US.

Long Operating History: Created in 2013, GBTC has a long operating history as the first publicly-traded Bitcoin fund in the US.

Specialist Sponsor: GBTC is sponsored by Grayscale, one of the the world’s leading crypto asset managers with over a decade of experience operating crypto investment products.

FAQ

Can the Grayscale Bitcoin Trust become a real ETF in the future?

There is potential for GBTC to convert into a traditional Bitcoin ETF, which may reduce its fees and help its shares trade closer to the net asset value. However, this would require regulatory approvals and other structural changes.

Are there any tax implications when investing in Grayscale Bitcoin Trust ETF?

Investing in GBTC, like other financial securities, has tax implications. Investors may be subject to capital gains taxes when they sell their shares at a profit, and they should consult with tax professionals to understand their specific situation.

What are the advantages of investing in the Grayscale Bitcoin Trust ETF?

GBTC provides a way to gain exposure to Bitcoin without dealing with cryptocurrency exchanges, wallets, or private keys. It is easy to buy and sell through brokerage accounts like Bitget Exchange, providing investor convenience and familiarity.

Why does Grayscale Bitcoin Trust trade at a premium or discount?

GBTC shares can trade at a premium or discount due to supply and demand dynamics in the market relative to the underlying value of Bitcoin held by the trust. This is influenced by investor sentiment, market conditions, and availability of shares.

What is the difference between Grayscale Bitcoin Trust and a Bitcoin ETF?

While both products aim to provide exposure to Bitcoin, a Bitcoin ETF is typically more liquid and may have lower fees. GBTC is structured as a trust, which can sometimes lead to share price trading at a premium or discount relative to the underlying Bitcoin value.

How can I invest in the Grayscale Bitcoin Trust ETF?

You can invest in GBTC through traditional brokerage accounts that support stock trading, such as Bitget Exchange, which allows you to buy, sell, or trade GBTC shares.

Is investing in the Grayscale Bitcoin Trust ETF safe?

Investing in GBTC carries risks similar to those of investing directly in Bitcoin, including market volatility. However, as an institutional product, it may offer more security and regulatory oversight compared to managing cryptocurrency directly.

What are the fees associated with investing in the Grayscale Bitcoin Trust ETF?

The GBTC charges an annual fee, often referred to as an expense ratio, which is used to cover management costs. As of now, the fee is around 2%, making it relatively high compared to some ETFs.

How does the Grayscale Bitcoin Trust ETF work?

GBTC holds a substantial amount of Bitcoin and issues shares that represent a fraction of the Bitcoin it holds. Investors can buy and sell these shares on traditional stock exchanges, providing them a way to invest in Bitcoin through their brokerage accounts.

What is the Grayscale Bitcoin Trust ETF?

The Grayscale Bitcoin Trust (GBTC) is a financial product that allows investors to gain exposure to Bitcoin (BTC) without directly purchasing the cryptocurrency. It operates similarly to an ETF but is structured as a trust.

Who is Gragscale？

Grayscale enables investors to access the digital economy through a family of registered and future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as a leading crypto asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure.

What are the product’s fees？

GBTC charges an annual management fee of 1.50%, which includes all of the costs associated with administration and safekeeping of the underlying Bitcoin. There are no other fees.

What is the difference in purchasing GBTC as opposed to purchasing Bitcoin outright？

GBTC allows investors to gain exposure to Bitcoin through a familiar investment vehicle, without the need to set up an account or wallet on a cryptocurrency exchange. Investors may choose GBTC if they prefer the convenience of accessing all their investments on their regular investment platform and purchasing a registered investment product.

What index does GBTC track?

GBTC tracks the CoinDesk Bitcoin Price Index (XBX), which provides a USD-denominated reference rate for the price of spot Bitcoin.

Where can I buy GBTC？

GBTC trades on NYSE Arca, and is available through most brokerage accounts, including Fidelity, Schwab, Robinhood, and others.

What was GBTC pre-ETP？

From 2015 until 1/11/2024, shares of GBTC were publicly-quoted on the OTCQX Market. On 1/11/2024, GBTC was uplisted to NYSE Arca as a spot Bitcoin ETP. It now creates and redeems shares on an ongoing basis as part of its ETP structure.

Grayscale Bitcoin Trust ETF news

Investors Rush into Bitcoin ETFs Amid Growing Expectations for Fed Rate Cuts, While Ethereum Trails Behind

- Bitcoin and Ethereum ETFs recorded $1.44B net inflows by Sept 10, 2025, driven by Fidelity’s FBTC ($299M) and BlackRock’s IBIT ($211M), with Bitcoin ETFs seeing $757M in single-day inflows. - Price rebounds (BTC >$114k, ETH >$4.4k) coincided with 82% Polymarket odds of a Fed rate cut, signaling capital shifts from money market funds to risk assets. - Bitcoin ETFs offset August redemptions with $1.39B September inflows, while Ethereum ETFs posted a $669M monthly outflow, highlighting Bitcoin’s stronger in

Bitget-RWA2025-09-22

Warsaw Stock Exchange Introduces Bitcoin ETF with FX Hedging, Providing Regulated Access to Cryptocurrency

- Warsaw Stock Exchange (GPW) launched Poland’s first Bitcoin ETF, Bitcoin BETA ETF, offering regulated crypto exposure via CME futures. - The ETF employs FX hedging to mitigate USD-PLN volatility risks, distinguishing it as the first Polish crypto fund with currency risk management. - Approved by KNF in June 2025, it expands GPW’s ETF portfolio to 16 products, reflecting growing institutional/retail demand for regulated digital assets. - Global crypto ETF adoption is accelerating, with over 90 filings pen

Bitget-RWA2025-09-22

Bitcoin ETFs Connect Conventional Financial Markets with Digital Assets

- U.S. SEC approved spot Bitcoin ETFs in 2024, enabling $48B in institutional/retail investments via regulated access to crypto assets. - BlackRock’s $10B ETF and 11 new funds highlight market confidence, contrasting Europe’s UCITS restrictions forcing Bitcoin ETNs instead. - Ethereum ETFs face 2025 regulatory hurdles despite Fusaka upgrade, while hedge funds leverage Bitcoin ETFs for arbitrage strategies. - U.S. leadership in crypto innovation contrasts with Europe’s fragmented ETP growth, as global regul

Bitget-RWA2025-09-21

Bitcoin ETF Inflows Near $900M May Signal Stronger Price Momentum and Predictive Power, Timothy Peterson Suggests

Coinotag2025-09-21

Poland’s Bitcoin ETF: The First Officially Regulated Entry Point for Traditional Investors in Eastern Europe

- WSE launched Poland’s first Bitcoin ETF, Bitcoin BETA, via futures contracts on CME, approved by KNF on June 17, 2025. - The futures-based fund avoids physical Bitcoin custody, using a 1% fee and FX hedging to mitigate risks for traditional investors. - BOŚ acts as market maker, enhancing liquidity, while WSE highlights regulatory safety and alignment with EU MiCA framework. - The ETF aims to bridge crypto and traditional finance, potentially spurring adoption in neighboring markets like Czech Republic a

Bitget-RWA2025-09-21

Bitcoin ETF Inflows Hit 2.8B Driving Market Momentum

coinfomania2025-09-21

Alternative ETFs

Symbol/ETF name	Asset class	Volume (USD \| Share）	Assets under management	Expense ratio
IBIT iShares Bitcoin Trust	Spot Active	$2.17B 32.98M IBIT	$88.94B	0.25%
FBTC Fidelity Wise Origin Bitcoin Fund	Spot Active	$300.4M 2.97M FBTC	$21.35B	0.25%
BITO ProShares Bitcoin ETF	Futures Active	$164.94M 8.27M BITO	$2.76B	--
BITB Bitwise Bitcoin ETF	Spot Active	$93.34M 1.48M BITB	$4.81B	0.2%
ARKB ARK 21Shares Bitcoin ETF	Spot Active	$67.58M 1.76M ARKB	$5.19B	0.21%
BTC Grayscale Bitcoin Mini Trust ETF	Spot Active	$48.59M 948.42K BTC	$4.05B	0.15%

Prefer buying cryptocurrencies directly? You can trade all major cryptocurrencies on Bitget

BGB/USDT

-2.91%

Trade

BTC/USDT

-2.38%

Trade

0G/USDT

+1.49K%

Trade

SOL/USDT

-6.92%

Trade

AVNT/USDT

+8.06%

Trade

ETH/USDT

-5.92%

Trade

DOGE/USDT

-9.42%

Trade

PI/USDT

-16.65%

Trade

XRP/USDT

-4.43%

Trade

RIVER/USDT

+499.93%

Trade

Bitget—The world's leading crypto exchange

Looking to buy or sell cryptocurrencies like Bitcoin? Choose Bitget, the cryptocurrency exchange offering top-tier liquidity, an exceptional user experience, and unmatched security!

Create account

Bitget app

Trade anytime, anywhere with the Bitget app. Join over 30 million users trading and connecting on our platform.

Download now

Cryptocurrency investments, including buying Bitcoin online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Bitcoin, and we strive to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your Bitcoin purchase. This page and any information included are not an endorsement of any particular cryptocurrency. Any price and other information on this page is collected from the public internet and cannot be considered as an offer from Bitget.

Trade smarter

Download app

Company