Grayscale Bitcoin Trust ETF (GBTC) Shares Outstanding (Entity) (2024 - 2025)
Grayscale Bitcoin Trust ETF's Shares Outstanding (Entity) was 211.92 million in Q4 2025, down 18.2% from 258.95 million a year earlier and down 5.9% from the prior quarter.
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Analysis
Grayscale Bitcoin Trust ETF (GBTC) Shares Outstanding (Entity) (2024 - 2025) Analysis & Trends
From Q1 2024 onward, Grayscale Bitcoin Trust ETF has reported Shares Outstanding (Entity) for 8 quarters.
- In earlier years, Shares Outstanding (Entity) was 258.95 million in FY2024.
- The Q4 2025 figure marks the lowest quarterly Shares Outstanding (Entity) in data going back to Q1 2024.
- Compared with a year earlier, Shares Outstanding (Entity) has declined for four straight quarters, with an average decline of 24.1% over the last four quarters.
- Per Business Quant data, GBTC's Shares Outstanding (Entity) in the three quarters before Q4 2025 was 225.11 million (Q3 2025), 235.1 million (Q2 2025) and 244.78 million (Q1 2025).
Peer Set
Peer Comparison
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 211.92 Mn |
| Sep 30, 2025 | 225.11 Mn |
| Jun 30, 2025 | 235.10 Mn |
| Mar 31, 2025 | 244.78 Mn |
| Dec 31, 2024 | 258.95 Mn |
| Sep 30, 2024 | 277.81 Mn |
| Jun 30, 2024 | 310.51 Mn |
| Mar 31, 2024 | 375.97 Mn |
API Access
Grayscale Bitcoin Trust ETF Shares Outstanding (Entity) API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=shares-outstanding-entity&ticker=GBTC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-entity", "ticker": "GBTC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=shares-outstanding-entity&ticker=GBTC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();