As of June 25, 2026, the fund holds $3.24 billion in assets under management with 54,661.8183 Bitcoin in the fund and a 0.15% management fee. The BTC mini trust competes with giants like BlackRock's IBIT and Fidelity's FBTC, and remains a preferred choice for those seeking the lowest possible sponsor fees and the simplicity of the "BTC" ticker.
Cyborg Score Rationale
The fund demonstrates strong market positioning with substantial AUM (~$3.2B), low fees (0.15%), institutional-grade custody, and steady inflows. However, performance is entirely dependent on Bitcoin price movements, creating asset volatility exposure—Q1 2026 saw -22.59% NAV decline due to Bitcoin depreciation.
Top Insights
As of Q1 2026 (March 31), Bitcoin price fell 22.4% per share from $38.74 to $29.99, driven by Bitcoin's drop from $87,549 to $67,805
Fund recovered to $3.24B AUM as of June 25, 2026, after declining 17% in Q1 2026 to $3.5B
Holds 54,661+ BTC in cold storage custody through Coinbase Custody Trust Company, providing institutional-grade security
0.15% expense ratio is among the lowest in the Bitcoin ETF market, undercutting legacy competitors
Named Competitors
IBIT — Bitcoin ETF with leading daily trading volume
FBTC — Fidelity-backed Bitcoin ETF
GBTC — Original Grayscale Bitcoin Trust with higher fees
Recent Developments
(July 2024) Grayscale Bitcoin Mini Trust launched and began trading on NYSE Arca under ticker BTC
(Q1 2026) Fund experienced sharp decline with Bitcoin falling from $87,549 to $67,805 per coin, generating $971.5M in net losses
(June 2026) AUM stabilized at $3.24B with 123.6M shares outstanding and continued institutional custody
Open the full interactive Grayscale Bitcoin Mini Trust report
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