$1,000 in Ethereum in 2023

A $1,000 investment in Ethereum (ETH) made in January 2023 would be worth about $1,911 as of May 2026 (latest complete month) — a ×1.91 return, or +21.4% per year. Adjusted for US inflation (CPI), that equals $1,719 in 2023 dollars. The same $1,000 in the S&P 500 with dividends reinvested would have grown to $1,967.

In plain terms: after stripping out +11.2% US inflation since January 2023, today's $1,911 buys roughly what $1,719 bought back in 2023 — a ×1.72 gain in actual purchasing power.

Ethereum launched in 2015 as the first programmable blockchain and powers most of DeFi, NFT and stablecoin activity. Unlike Bitcoin, its value case rests on network usage rather than fixed scarcity, and its returns have tracked crypto cycles with higher beta than BTC — in both directions.

Data as of · updated weekly

Worth today
$1,911
×1.91 · +21.4%/yr
Inflation-adjusted
$1,719
in 2023 dollars
S&P 500 instead
$1,967
same period, dividends reinvested
Gold instead
$2,622
same period, futures price

The actual numbers: Ethereum since 2023

ETH price in January 2023$1,200
ETH price as of May 2026$2,293
Nominal return×1.91 (+21.4%/yr)
US CPI inflation since January 2023+11.2%
Real (inflation-adjusted) return×1.72 (+17.6%/yr)
Same money in the S&P 500$1,967

Methodology: start-of-month prices, one-time purchase, no fees or taxes assumed. Full methodology.

What happened in 2023

2023 was the quiet recovery from the FTX bottom: Bitcoin climbed from $16,500 to about $42,000 as fear faded and BlackRock's spot-ETF filing in June rewrote the institutional narrative.

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Year
Month
Worth today
$1,911
×1.91 · +21.4%/yr
Inflation-adjusted
$1,719
in 2023 dollars
S&P 500 instead
$1,967
dividends reinvested
Gold instead
$2,622
same period

Ethereum vs S&P 500 total return vs uninvested cash eroded by CPI. Monthly grid, start-of-month prices.

FAQ: Ethereum returns since 2023

How much would $1,000 invested in Ethereum in 2023 be worth today?

About $1,911 as of May 2026 — a ×1.91 return. Adjusted for inflation, that equals $1,719 in 2023 dollars. This assumes a one-time purchase in January 2023 at $1,200 and never selling.

What does “inflation-adjusted” mean here?

US consumer prices rose +11.2% between January 2023 and May 2026 (CPI). So $1,911 today buys roughly what $1,719 bought in 2023. We deflate by CPI to show the gain in actual purchasing power.

Did Ethereum beat the S&P 500 since 2023?

No. $1,000 in Ethereum is worth $1,911, while the same money in the S&P 500 with dividends reinvested would be $1,967.

What was the average annual return of Ethereum since 2023?

+21.4% per year nominal (CAGR over 3.3 years), or +17.6% per year after CPI inflation.

Where does the data come from?

Crypto prices: Coin Metrics community data and Binance public market data. S&P 500: total-return index (^SP500TR). Inflation: US CPI (CPIAUCSL) from FRED. All series use a monthly grid and refresh weekly.

Ethereum in other years

20152016201720182019202020212022202320242025

Other assets in 2023

Bitcoin BTCSolana SOLDogecoin DOGECardano ADAXRP XRPLitecoin LTCBNB BNBChainlink LINK

Educational purposes only — not investment advice and not a recommendation to buy or sell any asset. Past performance is not indicative of future results. Calculations assume a one-time purchase at the start-of-month price, no fees, no taxes and no selling.