DV
Dividend Vision

GBTC ETF — Grayscale Bitcoin Trust ETF

Grayscale Bitcoin Trust ETF (GBTC)

GBTC is an ETF that tracks the Bitcoin. As of August 19, 2026, its distribution rate is 10.48%, its expense ratio is 1.50%. Dividend Vision Distribution Safety Score™ is 40/100 (Caution). Fund total return is 10042.0% over the past 11.3 years, 9702.8 points ahead of SPY at 339.2%.

At the current 10.48% distribution rate, a $10,000 investment would generate approximately $1,048 per year, or $87.33 per month on an equivalent basis. Actual twice-weekly payments vary.

Grayscale Bitcoin Trust is an ETF that provides direct exposure to bitcoin by holding the cryptocurrency itself, with valuations based on digital asset market prices. The ETF does not currently distribute income to shareholders and carries an expense ratio of 1.50%. It appeals to investors seeking bitcoin exposure through a traditional fund structure rather than direct cryptocurrency ownership.

GBTC dividend yield and income

Data as of August 19, 2026.

The distribution rate (10.48%) is the latest posted forward yield, paid twice-weekly. The last dividend was $0.0504. It was paid on 12/12/2017. At 10.48%, $10,000 would generate about $1,048 a year ($87.33 monthly-equivalent).

GBTC performance versus SPY

Data as of August 19, 2026.

Fund total return is 10042.0% over the past 11.3 years, 9702.8 points ahead of SPY at 339.2%. Its deepest 1-year drawdown was 53.8%.

WindowTotal returnCAGR
Since inception (11.3 years)10042.0%50.70%
3Y CAGR—47.10%
5Y CAGR—9.40%
10Y CAGR—48.70%

GBTC key facts

Data as of August 19, 2026.

Distribution Safety Score™
40 · Caution
Issuer
Grayscale Investments
Asset type
ETF
Asset class
Currency
Inception date
09/25/2013
Expense ratio
1.50%
Distribution rate
10.48%
Distribution frequency
Twice-Weekly
Last close
$50.00
AUM
$8,255,315,412
Average volume
1503752.0
Last dividend
$0.0504
Payment date
12/12/2017
Beta
1.8866

How Dividend Vision calculates yield and returns

Distribution rate (10.48%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Grayscale Investments; Index: Bitcoin; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

GBTC risks and drawbacks

The deepest 1-year drawdown on record here is 53.8%.

Compare GBTC

GBTC vs similar funds:

Frequently asked questions

Does GBTC pay monthly?

No. GBTC currently pays twice-weekly, not monthly.

What index does GBTC track?

GBTC tracks the Bitcoin.

What is GBTC's expense ratio?

GBTC's expense ratio is 1.50%.

What is GBTC's dividend yield?

GBTC currently yields 10.48%, paid twice-weekly, with a 1.50% expense ratio.

When does GBTC pay a dividend?

GBTC pays twice-weekly. The last dividend was $0.0504. It was paid on 12/12/2017.

How has GBTC performed?

Fund total return is 10042.0% over the past 11.3 years, 9702.8 points ahead of SPY at 339.2%. Its deepest 1-year drawdown was 53.8%.

Is GBTC a good investment?

GBTC's Dividend Vision Distribution Safety Score is 40 (Caution). That is a risk signal, not investment advice. It currently yields 10.48%. Compare peers below rather than treating any single figure as a buy or sell.

More funds from Grayscale Investments.