CLNK vs. ICRC

Last updated Jul 17, 2026

CLNK (Bitwise Chainlink ETF) and ICRC (Bitwise CRCL Option Income Strategy ETF) are both exchange-traded funds - CLNK is a Cryptocurrency fund tracking the Chainlink (LINK) spot price, while ICRC is a Derivative Income fund actively managed by Bitwise. CLNK is passively managed, while ICRC is actively managed. A 0.55 correlation means they provide meaningful diversification when combined. CLNK charges 0.34%/yr vs 0.98%/yr for ICRC.

Performance

CLNK vs. ICRC - Performance Comparison

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

Returns By Period

CLNK

• 1D: -1.47%
• 1M: 2.13%
• 6M: -38.29%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICRC

• 1D: -5.84%
• 1M: -17.98%
• 6M: -28.19%
• YTD: -29.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLNK vs. ICRC - Yearly Performance Comparison

	2026 (YTD)
CLNK Bitwise Chainlink ETF	-39.81%
ICRC Bitwise CRCL Option Income Strategy ETF	-32.59%

Correlation

The correlation between CLNK and ICRC is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.55

Return for Risk

CLNK vs. ICRC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Chainlink ETF (CLNK) and Bitwise CRCL Option Income Strategy ETF (ICRC). 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.

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

Drawdowns

CLNK vs. ICRC - Drawdown Comparison

The maximum CLNK drawdown since its inception was -49.00%, smaller than the maximum ICRC drawdown of -55.87%. Use the drawdown chart below to compare losses from any high point for CLNK and ICRC.

Drawdown Indicators

	CLNK	ICRC	Difference
Max Drawdown Largest peak-to-trough decline	-49.00%	-55.87%	+6.87%
Current Drawdown Current decline from peak	-40.36%	-55.87%	+15.51%
Average Drawdown Average peak-to-trough decline	-34.90%	-34.84%	-0.06%

Volatility

Volatility by Period

	CLNK	ICRC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	65.80%	68.27%	-2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.80%	68.27%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.80%	68.27%	-2.47%

CLNK vs. ICRC - Expense Ratio Comparison

CLNK has a 0.34% expense ratio, which is lower than ICRC's 0.98% expense ratio.

Dividends

CLNK vs. ICRC - Dividend Comparison

CLNK has not paid dividends to shareholders, while ICRC's dividend yield for the trailing twelve months is around 60.19%.

Position	TTM	2025
CLNK Bitwise Chainlink ETF	0.00%	0.00%
ICRC Bitwise CRCL Option Income Strategy ETF	60.19%	17.79%

Frequently Asked Questions

Can I hold both CLNK and ICRC in my portfolio?

CLNK and ICRC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLNK or ICRC?

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 ICRC?

CLNK is cheaper with a 0.34% expense ratio, compared with 0.98% for ICRC.

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

ICRC has the higher dividend yield at 60.19%, compared with 0.00% for CLNK.

What is the main difference between CLNK and ICRC?

CLNK is categorized as Cryptocurrency, while ICRC is Derivative Income. Their fees differ too: 0.34% for CLNK and 0.98% for ICRC.