BTC vs. GFOF

Last updated Jun 4, 2026

BTC (Grayscale Bitcoin Mini Trust ETF) and GFOF (Grayscale Future of Finance ETF) are both exchange-traded funds - BTC is a Cryptocurrency fund actively managed by Grayscale, while GFOF is a Blockchain fund tracking the Bloomberg Grayscale Future of Finance Index. BTC is actively managed, while GFOF is passively managed. At a 0.30 correlation, their price movements are largely independent. BTC charges 0.15%/yr vs 0.70%/yr for GFOF.

Performance

BTC vs. GFOF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Mini Trust ETF (BTC) and Grayscale Future of Finance ETF (GFOF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BTC

• 1D: -2.73%
• 1M: -18.40%
• YTD: -25.36%
• 6M: -29.74%
• 1Y: -38.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GFOF

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

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

BTC vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTC Grayscale Bitcoin Mini Trust ETF	-25.36%	-7.50%	44.64%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	46.00%

Correlation

The correlation between BTC and GFOF is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024	0.30

Return for Risk

BTC vs. GFOF — Risk / Return Rank

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

BTC

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

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.

BTC vs. GFOF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Mini Trust ETF (BTC) 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.

	BTC	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	—	—
Sortino ratio: Return per unit of downside risk	-1.22	—	—
Omega ratio: Gain probability vs. loss probability	0.86	—	—
Calmar ratio: Return relative to maximum drawdown	-0.78	—	—
Martin ratio: Return relative to average drawdown	-1.36	—	—
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

	BTC	GFOF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	—	—

Drawdowns

Drawdown Indicators

	BTC	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-49.34%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-49.34%	—	—
Current Drawdown Current decline from peak	-47.98%	—	—
Average Drawdown Average peak-to-trough decline	-16.61%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	28.38%	—	—

Volatility

Volatility by Period

	BTC	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	34.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.69%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.30%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.30%	—	—

BTC vs. GFOF - Expense Ratio Comparison

BTC has a 0.15% expense ratio, which is lower than GFOF's 0.70% expense ratio.

Dividends

BTC vs. GFOF - Dividend Comparison

Neither BTC nor GFOF has paid dividends to shareholders.

Position	TTM	2025	2024	2023
BTC Grayscale Bitcoin Mini Trust ETF	0.00%	0.00%	0.00%	0.00%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%

Frequently Asked Questions

Can I hold both BTC and GFOF in my portfolio?

BTC and GFOF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BTC or GFOF?

On fees, BTC is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTC or GFOF?

BTC is cheaper with a 0.15% expense ratio, compared with 0.70% for GFOF.

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

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

What is the main difference between BTC and GFOF?

BTC is categorized as Cryptocurrency, while GFOF is Blockchain. Their fees differ too: 0.15% for BTC and 0.70% for GFOF.