ETH vs. BTCW

Last updated Jun 4, 2026

ETH (Grayscale Ethereum Staking Mini ETF) and BTCW (Wisdom Tree Bitcoin Fund) are both Cryptocurrency funds. Over the past year, ETH returned -30.84% vs -38.63% for BTCW. Their correlation of 0.82 suggests significant overlap in exposure. ETH charges 0.15%/yr vs 0.30%/yr for BTCW.

Performance

ETH vs. BTCW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Ethereum Staking Mini ETF (ETH) and Wisdom Tree Bitcoin Fund (BTCW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETH achieves a -38.95% return, which is significantly lower than BTCW's -25.39% return.

ETH

• 1D: -5.52%
• 1M: -23.42%
• YTD: -38.95%
• 6M: -42.17%
• 1Y: -30.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTCW

• 1D: -2.62%
• 1M: -18.38%
• YTD: -25.39%
• 6M: -29.81%
• 1Y: -38.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ETH vs. BTCW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETH Grayscale Ethereum Staking Mini ETF	-38.95%	-10.89%	-3.70%
BTCW Wisdom Tree Bitcoin Fund	-25.39%	-6.05%	41.84%

Correlation

The correlation between ETH and BTCW is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	0.82

The correlation between ETH and BTCW has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

ETH vs. BTCW — Risk / Return Rank

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

ETH

ETH Risk / Return Rank: 5
ETH Sharpe Ratio Rank: 5
ETH Sortino Ratio Rank: 6
ETH Omega Ratio Rank: 6
ETH Calmar Ratio Rank: 5
ETH Martin Ratio Rank: 5

BTCW

BTCW Risk / Return Rank: 2
BTCW Sharpe Ratio Rank: 2
BTCW Sortino Ratio Rank: 2
BTCW Omega Ratio Rank: 2
BTCW Calmar Ratio Rank: 2
BTCW 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.

ETH vs. BTCW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and Wisdom Tree Bitcoin Fund (BTCW). 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.

	ETH	BTCW	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	-0.89	+0.44
Sortino ratio: Return per unit of downside risk	-0.29	-1.23	+0.94
Omega ratio: Gain probability vs. loss probability	0.97	0.86	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.50	-0.79	+0.29
Martin ratio: Return relative to average drawdown	-0.82	-1.36	+0.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETH vs. BTCW - Sharpe Ratio Comparison

The current ETH Sharpe Ratio is -0.45, which is higher than the BTCW Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of ETH and BTCW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETH	BTCW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.45	-0.89	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	0.31	-0.71

Drawdowns

ETH vs. BTCW - Drawdown Comparison

The maximum ETH drawdown since its inception was -64.01%, which is greater than BTCW's maximum drawdown of -49.29%. Use the drawdown chart below to compare losses from any high point for ETH and BTCW.

Drawdown Indicators

	ETH	BTCW	Difference
Max Drawdown Largest peak-to-trough decline	-64.01%	-49.29%	-14.72%
Max Drawdown (1Y) Largest decline over 1 year	-62.40%	-49.29%	-13.11%
Current Drawdown Current decline from peak	-62.40%	-47.99%	-14.41%
Average Drawdown Average peak-to-trough decline	-32.58%	-15.99%	-16.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.50%	28.40%	+9.10%

Volatility

ETH vs. BTCW - Volatility Comparison

Grayscale Ethereum Staking Mini ETF (ETH) and Wisdom Tree Bitcoin Fund (BTCW) have volatilities of 9.90% and 9.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETH	BTCW	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.90%	9.48%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	46.02%	34.25%	+11.77%
Volatility (1Y) Calculated over the trailing 1-year period	68.34%	43.53%	+24.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.26%	50.10%	+22.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.26%	50.10%	+22.16%

ETH vs. BTCW - Expense Ratio Comparison

ETH has a 0.15% expense ratio, which is lower than BTCW's 0.30% expense ratio.

Dividends

ETH vs. BTCW - Dividend Comparison

Neither ETH nor BTCW has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETH and BTCW in my portfolio?

ETH and BTCW have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETH or BTCW?

ETH has higher volatility (9.90%) compared to BTCW (9.48%). In terms of maximum drawdown, ETH dropped -64.01% vs BTCW's -49.29%.

Which ETF is better, ETH or BTCW?

On 1-year performance, ETH leads with -30.84% vs -38.63% for BTCW. On fees, ETH is cheaper at 0.15% per year. On volatility, BTCW has been the lower-risk option at 9.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETH or BTCW?

Over the 1-year period, ETH has performed better with a -30.84% return vs -38.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETH or BTCW?

ETH is cheaper with a 0.15% expense ratio, compared with 0.30% for BTCW.

Which ETF pays a higher dividend yield, ETH or BTCW?

ETH and BTCW have nearly identical dividend yields, around 0.00%.

What is the main difference between ETH and BTCW?

They also come from different issuers: Grayscale and WisdomTree. Their fees differ too: 0.15% for ETH and 0.30% for BTCW.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.45 vs -0.89), 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.