BITQ vs. GFOF

Last updated Jun 5, 2026

BITQ (Bitwise Crypto Industry Innovators ETF) and GFOF (Grayscale Future of Finance ETF) are both exchange-traded funds - BITQ is a Technology Equities fund tracking the Bitwise Crypto Innovators 30 Total Return, while GFOF is a Blockchain fund tracking the Bloomberg Grayscale Future of Finance Index. Both are passively managed. A 0.79 correlation means they provide meaningful diversification when combined. BITQ charges 0.85%/yr vs 0.70%/yr for GFOF.

Performance

BITQ vs. GFOF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Crypto Industry Innovators ETF (BITQ) and Grayscale Future of Finance ETF (GFOF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BITQ

• 1D: -1.33%
• 1M: 4.84%
• YTD: 37.93%
• 6M: 16.04%
• 1Y: 53.75%
• 3Y*: 60.76%
• 5Y*: 4.91%
• 10Y*: —

GFOF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BITQ vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BITQ Bitwise Crypto Industry Innovators ETF	37.93%	18.00%	46.97%	246.83%	-78.04%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-68.58%

Correlation

The correlation between BITQ and GFOF is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022	0.79

The correlation between BITQ and GFOF shifts across timeframes, from 0.66 (3 years) to 0.79 (all time), reflecting how their relationship changes across market environments.

BITQ vs. GFOF - Sectors Allocation Comparison

Sectors	BITQ	GFOF
Financial Services	67.1%	57.4%
Technology	28.1%	22.8%
Consumer Cyclical	4.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	8.5%
Industrials	-	3.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

BITQ vs. GFOF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITQ

BITQ Risk / Return Rank: 27
BITQ Sharpe Ratio Rank: 28
BITQ Sortino Ratio Rank: 30
BITQ Omega Ratio Rank: 28
BITQ Calmar Ratio Rank: 26
BITQ Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITQ vs. GFOF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Crypto Industry Innovators ETF (BITQ) and Grayscale Future of Finance ETF (GFOF). 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.

	BITQ	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	0.97	—	—
Sortino ratio: Return per unit of downside risk	1.57	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.20	—	—
Martin ratio: Return relative to average drawdown	2.53	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BITQ	GFOF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	—	—

Drawdowns

Drawdown Indicators

	BITQ	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-90.32%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-44.99%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-51.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-90.32%	—	—
Current Drawdown Current decline from peak	-15.21%	—	—
Average Drawdown Average peak-to-trough decline	-52.77%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	21.33%	—	—

Volatility

Volatility by Period

	BITQ	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	42.58%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	55.93%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.18%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.21%	—	—

BITQ vs. GFOF - Expense Ratio Comparison

BITQ has a 0.85% expense ratio, which is higher than GFOF's 0.70% expense ratio.

Dividends

BITQ vs. GFOF - Dividend Comparison

Neither BITQ nor GFOF has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITQ and GFOF in my portfolio?

BITQ and GFOF 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, BITQ or GFOF?

On fees, GFOF is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BITQ or GFOF?

GFOF is cheaper with a 0.70% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, BITQ or GFOF?

BITQ and GFOF have nearly identical dividend yields, around 0.00%.

What is the main difference between BITQ and GFOF?

BITQ is categorized as Technology Equities, while GFOF is Blockchain. BITQ tracks Bitwise Crypto Innovators 30 Total Return, while GFOF tracks Bloomberg Grayscale Future of Finance Index. They also come from different issuers: Exchange Traded Concepts and Grayscale. Their fees differ too: 0.85% for BITQ and 0.70% for GFOF.