Share-split context: A reverse split was recorded on Nov 20, 2024 with coefficient 0.2. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

Grayscale Bitcoin Mini Trust ETF (BTC)

The Grayscale Bitcoin Mini Trust ETF (ticker: BTC) is a crypto-related ETF traded on the NYSE. This fund is designed to provide exposure to Bitcoin-related assets. Based on recent data, the most important things to know are that the fund has experienced significant price declines and does not pay out any regular income to investors.

What the numbers show

As of October 7, 2026, the current price of one share is $36.88. Looking at how the price has changed, the year-to-date (YTD) price return is approximately -4.78%. Over the last year, the one-year price return was approximately -31.55%.

This ETF has a history of a reverse split. On November 20, 2024, a reverse split occurred where multiple old shares were combined into fewer new shares. When this happens, the price per share rises mechanically. It is important to understand that this mechanical increase in price does not mean the investment value was restored.

Income and distribution explanation

This ETF does not provide cash income. There are no distributions detected, meaning the distribution yield is 0%. Because there are no payments, the one-year total return is the same as the price return, which is approximately -31.55%. The fund has an income rating grade of "F."

NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the ETF has a severe erosion-risk flag. This means that the split-adjusted price trend and the fund's erosion score triggered a warning. The current erosion score is 30, which is labeled as "significant price erosion."

Pros

• Provides exposure to crypto-related assets through an ETF structure on the NYSE.

Cons

• Significant share-price decline over the last year.

• No regular income or distributions provided to investors.

• A severe erosion-risk flag is active due to price trends.

Beginner takeaway

The Grayscale Bitcoin Mini Trust ETF (BTC) is a crypto-related fund that has seen its share price drop by about 31.55% over the last year. It does not pay any dividends or distributions, so it is not an income-focused investment. Because of its recent price trends, it currently carries a severe erosion-risk warning.