CLNK vs. GLNK

Last updated Jun 24, 2026

CLNK (Bitwise Chainlink ETF) and GLNK (Grayscale Chainlink Trust ETF) are both Cryptocurrency funds - CLNK tracks the Chainlink (LINK) spot price while GLNK tracks the Chainlink (LINK). Both are passively managed. With a 0.99 correlation, they move nearly in lockstep. CLNK charges 0.34%/yr vs 2.50%/yr for GLNK.

Performance

CLNK vs. GLNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Chainlink ETF (CLNK) and Grayscale Chainlink Trust ETF (GLNK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLNK

• 1D: -4.58%
• 1M: -20.30%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLNK

• 1D: -4.14%
• 1M: -19.90%
• YTD: -38.32%
• 6M: -39.13%
• 1Y: -61.60%
• 3Y*: -11.67%
• 5Y*: —
• 10Y*: —

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

CLNK vs. GLNK - Yearly Performance Comparison

	2026 (YTD)
CLNK Bitwise Chainlink ETF	-45.91%
GLNK Grayscale Chainlink Trust ETF	-45.10%

Correlation

The correlation between CLNK and GLNK is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.99

Return for Risk

CLNK vs. GLNK — Risk / Return Rank

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

CLNK

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GLNK

GLNK Risk / Return Rank: 5
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 3
GLNK Martin Ratio Rank: 5

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.

CLNK vs. GLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Chainlink ETF (CLNK) and Grayscale Chainlink Trust ETF (GLNK). 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.

	CLNK	GLNK	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.57	—
Sortino ratio: Return per unit of downside risk	—	-0.52	—
Omega ratio: Gain probability vs. loss probability	—	0.94	—
Calmar ratio: Return relative to maximum drawdown	—	-0.69	—
Martin ratio: Return relative to average drawdown	—	-0.89	—

Drawdowns

CLNK vs. GLNK - Drawdown Comparison

The maximum CLNK drawdown since its inception was -48.04%, smaller than the maximum GLNK drawdown of -96.17%. Use the drawdown chart below to compare losses from any high point for CLNK and GLNK.

Drawdown Indicators

	CLNK	GLNK	Difference
Max Drawdown Largest peak-to-trough decline	-48.04%	-96.17%	+48.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-89.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-96.17%	—
Current Drawdown Current decline from peak	-46.41%	-96.04%	+49.63%
Average Drawdown Average peak-to-trough decline	-33.42%	-56.16%	+22.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	69.58%	—

Volatility

Volatility by Period

	CLNK	GLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	47.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	67.99%	107.84%	-39.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.99%	163.97%	-95.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.99%	163.97%	-95.98%

CLNK vs. GLNK - Expense Ratio Comparison

CLNK has a 0.34% expense ratio, which is lower than GLNK's 2.50% expense ratio.

Dividends

CLNK vs. GLNK - Dividend Comparison

Neither CLNK nor GLNK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CLNK and GLNK in my portfolio?

With a correlation of 0.99, CLNK and GLNK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CLNK or GLNK?

On fees, CLNK is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLNK or GLNK?

CLNK is cheaper with a 0.34% expense ratio, compared with 2.50% for GLNK.

Which ETF pays a higher dividend yield, CLNK or GLNK?

CLNK and GLNK have nearly identical dividend yields, around 0.00%.

What is the main difference between CLNK and GLNK?

CLNK tracks Chainlink (LINK) spot price, while GLNK tracks Chainlink (LINK). They also come from different issuers: Bitwise and Grayscale. Their fees differ too: 0.34% for CLNK and 2.50% for GLNK.