BTC vs. XRPT

Last updated Jul 15, 2026

BTC (Grayscale Bitcoin Mini Trust ETF) and XRPT (Volatility Shares 2x XRP ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, BTC returned -46.27% vs -93.84% for XRPT. Their correlation of 0.84 suggests significant overlap in exposure. BTC charges 0.15%/yr vs 0.94%/yr for XRPT.

Performance

BTC vs. XRPT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Mini Trust ETF (BTC) and Volatility Shares 2x XRP ETF (XRPT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTC achieves a -26.28% return, which is significantly higher than XRPT's -74.94% return.

BTC

• 1D: 3.74%
• 1M: 1.49%
• 6M: -31.73%
• YTD: -26.28%
• 1Y: -46.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRPT

• 1D: 8.69%
• 1M: -7.04%
• 6M: -80.96%
• YTD: -74.94%
• 1Y: -93.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTC vs. XRPT - Yearly Performance Comparison

	2026 (YTD)	2025
BTC Grayscale Bitcoin Mini Trust ETF	-26.28%	-19.58%
XRPT Volatility Shares 2x XRP ETF	-74.94%	-67.94%

Correlation

The correlation between BTC and XRPT is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.84

The correlation between BTC and XRPT has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

Return for Risk

BTC vs. XRPT — 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: 1
BTC Sortino Ratio Rank: 2
BTC Omega Ratio Rank: 2
BTC Calmar Ratio Rank: 2
BTC Martin Ratio Rank: 2

XRPT

XRPT Risk / Return Rank: 2
XRPT Sharpe Ratio Rank: 4
XRPT Sortino Ratio Rank: 1
XRPT Omega Ratio Rank: 1
XRPT Calmar Ratio Rank: 0
XRPT Martin Ratio Rank: 3

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. XRPT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Mini Trust ETF (BTC) and Volatility Shares 2x XRP ETF (XRPT). 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.

	BTC	XRPT	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	-0.64	-0.40
Sortino ratio: Return per unit of downside risk	-1.58	-1.70	+0.12
Omega ratio: Gain probability vs. loss probability	0.83	0.82	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.87	-0.97	+0.10
Martin ratio: Return relative to average drawdown	-1.41	-1.22	-0.19

BTC vs. XRPT - Sharpe Ratio Comparison

The current BTC Sharpe Ratio is -1.05, which is lower than the XRPT Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of BTC and XRPT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BTC vs. XRPT - Drawdown Comparison

The maximum BTC drawdown since its inception was -53.30%, smaller than the maximum XRPT drawdown of -96.33%. Use the drawdown chart below to compare losses from any high point for BTC and XRPT.

Drawdown Indicators

	BTC	XRPT	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-96.33%	+43.03%
Max Drawdown (1Y) Largest decline over 1 year	-53.30%	-96.33%	+43.03%
Current Drawdown Current decline from peak	-48.62%	-95.77%	+47.15%
Average Drawdown Average peak-to-trough decline	-18.61%	-65.88%	+47.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.80%	76.76%	-43.96%

Volatility

BTC vs. XRPT - Volatility Comparison

The current volatility for Grayscale Bitcoin Mini Trust ETF (BTC) is 11.65%, while Volatility Shares 2x XRP ETF (XRPT) has a volatility of 35.72%. This indicates that BTC experiences smaller price fluctuations and is considered to be less risky than XRPT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTC	XRPT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.65%	35.72%	-24.07%
Volatility (6M) Calculated over the trailing 6-month period	34.96%	103.57%	-68.61%
Volatility (1Y) Calculated over the trailing 1-year period	44.40%	146.09%	-101.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.00%	147.77%	-99.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.00%	147.77%	-99.77%

BTC vs. XRPT - Expense Ratio Comparison

BTC has a 0.15% expense ratio, which is lower than XRPT's 0.94% expense ratio.

Dividends

BTC vs. XRPT - Dividend Comparison

BTC has not paid dividends to shareholders, while XRPT's dividend yield for the trailing twelve months is around 6.34%.

Position	TTM	2025
BTC Grayscale Bitcoin Mini Trust ETF	0.00%	0.00%
XRPT Volatility Shares 2x XRP ETF	6.34%	1.23%

Frequently Asked Questions

Can I hold both BTC and XRPT in my portfolio?

BTC and XRPT have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTC or XRPT?

XRPT has higher volatility (35.72%) compared to BTC (11.65%). In terms of maximum drawdown, BTC dropped -53.30% vs XRPT's -96.33%.

Which ETF is better, BTC or XRPT?

On 1-year performance, BTC leads with -46.27% vs -93.84% for XRPT. On fees, BTC is cheaper at 0.15% per year. On volatility, BTC has been the lower-risk option at 11.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BTC or XRPT?

Over the 1-year period, BTC has performed better with a -46.27% return vs -93.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTC or XRPT?

BTC is cheaper with a 0.15% expense ratio, compared with 0.94% for XRPT.

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

XRPT has the higher dividend yield at 6.34%, compared with 0.00% for BTC.

What is the main difference between BTC and XRPT?

They also come from different issuers: Grayscale and Volatility Shares. Their fees differ too: 0.15% for BTC and 0.94% for XRPT.

Which has better risk-adjusted returns?

XRPT currently has the higher Sharpe Ratio (-0.64 vs -1.05), 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.