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Launched · SEC filings

Grayscale Bitcoin Mini Trust ETF

BTCNYSE ArcaGrayscaleA

$33.02−0.47 (−1.42%)

As of Nov 9, 2026, 12:25 PM ET

A81/ 100

Rank 1 of 13 in Spot Bitcoin

A81/100Rank 1 of 13inSpot Bitcoin
Intraday session: down, 36 prints from 33.50 to 33.02. Range 32.82 to 33.34. Use the arrow keys to read each point.32.8033.2033.4010 AM12 PM2 PM4 PM
Expense ratio
0.15%
Fund size
$4.72B
1Y total return
−25.0%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
1.68M sh
52W range
low $25.65high $47.07
Launched
Filings
SEC EDGAR

The ETF.net BTC Grade

Based on 5 of 6 pillars

A

Score 81 out of 100

Category
Spot Bitcoin⁠
Rank
1 of 13
Six-pillar profile for BTC. Scores out of 100: Cost 90, Risk 47, Mission 100, Tradability 76, Holdings not scored, Durability 53. Strongest: Mission (100). Weakest: Risk (47). Based on 5 of 6 pillars.

Score 81 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A90 out of 100
    Rank 2 of 13

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 12

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 7 of 13

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A76 out of 100
    Rank 3 of 13

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 6 of 13

Our read on BTC

ETF.net Research

In short

AGrayscale's answer to the fee war: a 2024 spin-off of its original bitcoin trust, holding the same coin for a tenth of the cost. The mandate is one line, straight from its filings: reflect the value of the bitcoin it holds, less expenses.

Stated mandate

The Trust is a passive vehicle designed to track the value of Bitcoin held by it, after expenses and liabilities. It does not seek returns beyond Bitcoin’s price performance.

Why people hold it

  • 0.15% fee, set in the fund's own documents, against the 1.5% that Grayscale's original bitcoin trust (GBTC) still charges for the same spot exposure.grayscale.com
  • One job, stated plainly: hold bitcoin and reflect its value less expenses. No yield strategies, no derivatives overlay, and it has tracked that mandate tightly.grayscale.com
  • Born as a spin-off, so shares landed with existing Grayscale holders and it opened with billions in bitcoin already on the books, not a cold start.etf.com
  • Now a multi-billion-dollar, actively traded fund and one of the strongest implementations in its spot bitcoin peer group.

Worth knowing

  • Pure bitcoin exposure: full drawdowns pass straight through, with no buffer, no diversification and no distributions along the way.grayscale.com
  • A grantor trust, not a 1940 Act registered fund, so the protections that come with registered ETFs do not apply.sec.gov
  • Some peers run temporary fee waivers (EZBC has charged 0.00%), which can undercut a headline fee until they lapse.

BTC Holdings

Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
Bitcoin100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataBitcoin100.00%62,260$4.72B4

Showing 1–1 of 1 holdings

BTC Performance

Launched Jul 31, 2024

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
BTC$7,501
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,088
Nov 6, 2025 to Nov 6, 2026. BTC $7,501. SPY $11,088. Use the arrow keys to read each point.$6,000$8,000$10,000$12,000Nov 2025May 2026Nov 2026

Nov 6, 2025 – Nov 6, 2026

Returns run to the Nov 6, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BTC. Periods over one year show the average yearly return.
PeriodBTC
Year to date−13.5%
1 month−11.5%
3 months+17.7%
1 year−25.0%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BTC
YearReturn barBTC
2026 YTD−13.5%
2025−7.5%
2024+44.6%

Since listing, Jul 31, 2024

BTC in the news

BTC Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

BTC Risk

Risk pillarC47 out of 100Rank 7 of 13 in Spot Bitcoin
How much the fund’s monthly returns vary, scaled to a year.
47.0%
Annualised · 27 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.28
vs 3-month T-bills · 27 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−53.3%
27 months · trough Jun 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.63
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BTC Cost

Compare BTC and MSBT

Overpaying vs MSBT, cheapest in Spot Bitcoin

$205

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BTC 0.15%

    $3,137

  • MSBT 0.14% Cheapest

    $2,932

$10,000
30 years

Cost over time

  • BTC 0.15%
  • MSBT 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530BTC $3,137MSBT $2,932

Year by year

YearBTCMSBTOverpaying
10$274$256$18
20$1,071$1,000$71
30$3,137$2,932$205

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