BTC-USD vs. GBTC

The year-to-date returns for both stocks are quite close, with BTC-USD having a 10.21% return and GBTC slightly lower at 10.06%. Over the past 10 years, BTC-USD has outperformed GBTC with an annualized return of 83.65%, while GBTC has yielded a comparatively lower 65.52% annualized return.

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This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) 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.

The current BTC-USD Sharpe Ratio is 1.24, which is higher than the GBTC Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of BTC-USD and GBTC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

The maximum BTC-USD drawdown since its inception was -93.07%, roughly equal to the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for BTC-USD and GBTC. For additional features, visit the drawdowns tool.

Bitcoin (BTC-USD) has a higher volatility of 11.97% compared to Grayscale Bitcoin Trust (BTC) (GBTC) at 10.64%. This indicates that BTC-USD's price experiences larger fluctuations and is considered to be riskier than GBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.