BITC.AS vs. IBIT

Last updated Aug 1, 2026

BITC.AS (CoinShares Physical Bitcoin (BTC) ETP) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. BITC.AS is actively managed, while IBIT is passively managed. Their 0.79 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.25% expense ratio.

Performance

BITC.AS vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BITC.AS is traded in EUR, while IBIT is traded in USD. To make them comparable, the IBIT values have been converted to EUR using the latest available exchange rates.

Returns By Period

BITC.AS

• 1D: -0.21%
• 1M: 3.55%
• 6M: -19.79%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IBIT

• 1D: -2.90%
• 1M: 1.38%
• 6M: -22.86%
• YTD: -26.86%
• 1Y: -44.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITC.AS CoinShares Physical Bitcoin (BTC) ETP	€76.98K	€144.61K	€178.75K
IBIT iShares Bitcoin Trust ETF	€1.14B	€1.17B	€1.45B

BITC.AS vs. IBIT - Yearly Performance Comparison

	2026 (YTD)
BITC.AS CoinShares Physical Bitcoin (BTC) ETP	-27.53%
IBIT iShares Bitcoin Trust ETF	-29.97%

Correlation

The correlation between BITC.AS and IBIT is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.79

Return for Risk

BITC.AS vs. IBIT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BITC.AS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IBIT

IBIT Risk / Return Rank: 1
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 1
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BITC.AS vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CoinShares Physical Bitcoin (BTC) ETP (BITC.AS) and iShares Bitcoin Trust ETF (IBIT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BITC.AS	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	—	-1.07	—
Sortino ratio: Return per unit of downside risk	—	-1.64	—
Omega ratio: Gain probability vs. loss probability	—	0.82	—
Calmar ratio: Return relative to maximum drawdown	—	-0.90	—
Martin ratio: Return relative to average drawdown	—	-1.37	—

Drawdowns

BITC.AS vs. IBIT - Drawdown Comparison

The maximum BITC.AS drawdown since its inception was -38.86%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for BITC.AS and IBIT.

Drawdown Indicators

	BITC.AS	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-38.86%	-52.11%	+13.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.11%	—
Current Drawdown Current decline from peak	-32.71%	-49.20%	+16.49%
Average Drawdown Average peak-to-trough decline	-25.59%	-18.56%	-7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	34.30%	—

Volatility

Volatility by Period

	BITC.AS	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	32.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	41.05%	43.85%	-2.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.05%	49.49%	-8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.05%	49.49%	-8.44%

BITC.AS vs. IBIT - Expense Ratio Comparison

Both BITC.AS and IBIT have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BITC.AS vs. IBIT - Dividend Comparison

Neither BITC.AS nor IBIT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BITC.AS and IBIT in my portfolio?

BITC.AS and IBIT have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BITC.AS or IBIT?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITC.AS or IBIT?

BITC.AS and IBIT have the same expense ratio: 0.25% per year.

What is the main difference between BITC.AS and IBIT?

They also come from different issuers: CoinShares and iShares.