ETCG vs. BITI
ETCG (Grayscale Ethereum Classic Trust (ETC)) and BITI (ProShares Short Bitcoin ETF) are both Cryptocurrency funds - ETCG tracks the Ethereum Classic (ETC) while BITI tracks the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, ETCG returned -20.02%/yr vs -32.46%/yr for BITI. Their -0.64 correlation means they have often moved in opposite directions in the past. ETCG charges 2.50%/yr vs 1.03%/yr for BITI.
Performance
ETCG vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, ETCG achieves a -47.46% return, which is significantly lower than BITI's 24.60% return.
ETCG
- 1D
- 1.43%
- 1M
- -13.06%
- 6M
- -34.35%
- YTD
- -47.46%
- 1Y
- -66.78%
- 3Y*
- -20.02%
- 5Y*
- -37.77%
- 10Y*
- —
- ALL TIME*
- -22.05%
BITI
- 1D
- -0.50%
- 1M
- -4.51%
- 6M
- 10.22%
- YTD
- 24.60%
- 1Y
- 57.95%
- 3Y*
- -32.46%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.17M | $25.84M | $38.74M | |
| $62.63K | $57.03K | $104.25K |
ETCG vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | -47.46% | -39.78% | -9.57% | 289.22% | -47.69% |
BITI ProShares Short Bitcoin ETF | 24.60% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between ETCG and BITI is -0.69, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.69 |
Correlation (3Y) Balances recent behavior with more history. | -0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.64 |
The correlation between ETCG and BITI has been stable across timeframes, ranging from -0.69 to -0.63 - a consistent structural relationship.
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Return for Risk
ETCG vs. BITI — Risk / Return Rank
ETCG
BITI
ETCG vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) and ProShares Short Bitcoin ETF (BITI). 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.
| ETCG | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.49 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.23 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.30 | -3.22 |
| Martin ratioReturn relative to average drawdown | -1.30 | 5.60 | -6.90 |
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Drawdowns
ETCG vs. BITI - Drawdown Comparison
The maximum ETCG drawdown since its inception was -96.59%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for ETCG and BITI.
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Drawdown Indicators
| ETCG | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.59% | -92.16% | -4.43% |
Max Drawdown (1Y)Largest decline over 1 year | -72.70% | -25.28% | -47.42% |
Max Drawdown (3Y)Largest decline over 3 years | -82.25% | -84.63% | +2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -92.70% | — | — |
Current DrawdownCurrent decline from peak | -96.20% | -86.40% | -9.80% |
Average DrawdownAverage peak-to-trough decline | -82.89% | -68.62% | -14.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.47% | 10.37% | +41.10% |
Volatility
ETCG vs. BITI - Volatility Comparison
Grayscale Ethereum Classic Trust (ETC) (ETCG) has a higher volatility of 9.74% compared to ProShares Short Bitcoin ETF (BITI) at 8.18%. This indicates that ETCG's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETCG | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.74% | 8.18% | +1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 33.37% | 32.69% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.25% | 44.17% | +13.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 90.69% | 51.98% | +38.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 114.27% | 51.98% | +62.29% |
ETCG vs. BITI - Expense Ratio Comparison
ETCG has a 2.50% expense ratio, which is higher than BITI's 1.03% expense ratio.
Dividends
ETCG vs. BITI - Dividend Comparison
ETCG has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 21.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 21.91% | 1.60% | 3.91% | 3.33% | 0.06% |
ETCG Grayscale Ethereum Classic Trust (ETC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETCG and BITI have a correlation of -0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETCG has higher volatility (9.74%) compared to BITI (8.18%). In terms of maximum drawdown, ETCG dropped -96.59% vs BITI's -92.16%.
On 3-year performance, ETCG leads with -20.02% vs -32.46% for BITI. On fees, BITI is cheaper at 1.03% per year. On volatility, BITI has been the lower-risk option at 8.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ETCG has performed better with a -20.02% return vs -32.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITI is cheaper with a 1.03% expense ratio, compared with 2.50% for ETCG.
BITI has the higher dividend yield at 21.91%, compared with 0.00% for ETCG.
ETCG tracks Ethereum Classic (ETC), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Grayscale and ProShares. Their fees differ too: 2.50% for ETCG and 1.03% for BITI.
BITI currently has the higher Sharpe Ratio (1.32 vs -1.17), 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.
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