BITB vs. GBTC
Compare and contrast key facts about Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Trust (BTC) (GBTC).
BITB is a passively managed fund by Bitwise Asset Management that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 10, 2024.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITB or GBTC.
Correlation
The correlation between BITB and GBTC is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BITB vs. GBTC - Performance Comparison
Key characteristics
BITB:
2.54
GBTC:
2.05
BITB:
3.03
GBTC:
2.59
BITB:
1.36
GBTC:
1.31
BITB:
5.25
GBTC:
3.09
BITB:
12.01
GBTC:
7.66
BITB:
11.98%
GBTC:
15.52%
BITB:
56.65%
GBTC:
57.99%
BITB:
-27.44%
GBTC:
-89.91%
BITB:
-1.82%
GBTC:
-1.96%
Returns By Period
The year-to-date returns for both stocks are quite close, with BITB having a 12.25% return and GBTC slightly lower at 12.20%.
BITB
12.25%
4.20%
55.74%
155.51%
N/A
N/A
GBTC
12.20%
4.06%
39.16%
128.85%
52.65%
N/A
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Risk-Adjusted Performance
BITB vs. GBTC — Risk-Adjusted Performance Rank
BITB
GBTC
BITB vs. GBTC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Trust (BTC) (GBTC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
BITB vs. GBTC - Dividend Comparison
Neither BITB nor GBTC has paid dividends to shareholders.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
BITB Bitwise Bitcoin ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23% |
Drawdowns
BITB vs. GBTC - Drawdown Comparison
The maximum BITB drawdown since its inception was -27.44%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for BITB and GBTC. For additional features, visit the drawdowns tool.
Volatility
BITB vs. GBTC - Volatility Comparison
Bitwise Bitcoin ETF (BITB) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 15.76% and 15.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.