BITS vs. COIN

Last updated Jun 5, 2026

BITS (Global X Blockchain & Bitcoin Strategy ETF) is Cryptocurrency fund tracking the NONE, while COIN (Coinbase Global, Inc.) is a stock. Over the past 3 years, BITS returned 51.67%/yr vs 40.88%/yr for COIN. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

BITS vs. COIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Blockchain & Bitcoin Strategy ETF (BITS) and Coinbase Global, Inc. (COIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BITS achieves a 2.11% return, which is significantly higher than COIN's -27.42% return.

BITS

• 1D: -1.97%
• 1M: -7.62%
• YTD: 2.11%
• 6M: -9.62%
• 1Y: 14.99%
• 3Y*: 51.67%
• 5Y*: —
• 10Y*: —

COIN

• 1D: 0.56%
• 1M: -17.00%
• YTD: -27.42%
• 6M: -40.11%
• 1Y: -35.89%
• 3Y*: 40.88%
• 5Y*: -6.43%
• 10Y*: —

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

BITS vs. COIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	2.11%	14.90%	61.84%	212.23%	-75.46%	-29.31%
COIN Coinbase Global, Inc.	-27.42%	-8.92%	42.77%	391.44%	-85.98%	-26.23%

Correlation

The correlation between BITS and COIN is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.79

The correlation between BITS and COIN has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

Return for Risk

BITS vs. COIN — Risk / Return Rank

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

BITS

BITS Risk / Return Rank: 14
BITS Sharpe Ratio Rank: 13
BITS Sortino Ratio Rank: 17
BITS Omega Ratio Rank: 16
BITS Calmar Ratio Rank: 13
BITS Martin Ratio Rank: 12

COIN

COIN Risk / Return Rank: 22
COIN Sharpe Ratio Rank: 19
COIN Sortino Ratio Rank: 22
COIN Omega Ratio Rank: 23
COIN Calmar Ratio Rank: 23
COIN Martin Ratio Rank: 24

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.

BITS vs. COIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Blockchain & Bitcoin Strategy ETF (BITS) and Coinbase Global, Inc. (COIN). 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.

	BITS	COIN	Difference
Sharpe ratio: Return per unit of total volatility	0.29	-0.51	+0.80
Sortino ratio: Return per unit of downside risk	0.76	-0.43	+1.19
Omega ratio: Gain probability vs. loss probability	1.09	0.95	+0.14
Calmar ratio: Return relative to maximum drawdown	0.31	-0.54	+0.85
Martin ratio: Return relative to average drawdown	0.58	-0.90	+1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITS vs. COIN - Sharpe Ratio Comparison

The current BITS Sharpe Ratio is 0.29, which is higher than the COIN Sharpe Ratio of -0.51. The chart below compares the historical Sharpe Ratios of BITS and COIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITS	COIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	-0.51	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	-0.15	+0.16

Drawdowns

BITS vs. COIN - Drawdown Comparison

The maximum BITS drawdown since its inception was -83.11%, smaller than the maximum COIN drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for BITS and COIN.

Drawdown Indicators

	BITS	COIN	Difference
Max Drawdown Largest peak-to-trough decline	-83.11%	-90.90%	+7.79%
Max Drawdown (1Y) Largest decline over 1 year	-48.38%	-66.39%	+18.01%
Max Drawdown (3Y) Largest decline over 3 years	-48.38%	-66.39%	+18.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-90.90%	—
Current Drawdown Current decline from peak	-32.77%	-60.90%	+28.13%
Average Drawdown Average peak-to-trough decline	-42.75%	-49.84%	+7.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.76%	39.86%	-14.10%

Volatility

BITS vs. COIN - Volatility Comparison

The current volatility for Global X Blockchain & Bitcoin Strategy ETF (BITS) is 12.16%, while Coinbase Global, Inc. (COIN) has a volatility of 19.12%. This indicates that BITS experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITS	COIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.16%	19.12%	-6.96%
Volatility (6M) Calculated over the trailing 6-month period	40.38%	50.97%	-10.59%
Volatility (1Y) Calculated over the trailing 1-year period	52.48%	70.03%	-17.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.89%	85.85%	-24.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.89%	85.36%	-24.47%

Dividends

BITS vs. COIN - Dividend Comparison

BITS's dividend yield for the trailing twelve months is around 22.32%, while COIN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	22.32%	22.80%	29.49%	13.69%	0.48%	1.90%
COIN Coinbase Global, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BITS and COIN in my portfolio?

BITS and COIN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BITS or COIN?

COIN has higher volatility (19.12%) compared to BITS (12.16%). In terms of maximum drawdown, BITS dropped -83.11% vs COIN's -90.90%.

Which has better risk-adjusted returns?

BITS currently has the higher Sharpe Ratio (0.29 vs -0.51), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.