ETH vs. BTRN

Last updated Aug 4, 2026

ETH (Grayscale Ethereum Staking Mini ETF) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds. ETH is actively managed, while BTRN is passively managed. Over the past year, ETH returned -45.97% vs -21.49% for BTRN. Their 0.58 correlation means they have sometimes moved together and sometimes differently. ETH charges 0.15%/yr vs 0.95%/yr for BTRN.

Performance

ETH vs. BTRN - Performance Comparison

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

Returns By Period

In the year-to-date period, ETH achieves a -36.49% return, which is significantly lower than BTRN's -10.45% return.

ETH

• 1D: 0.11%
• 1M: 10.14%
• 6M: -18.78%
• YTD: -36.49%
• 1Y: -45.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.19%

BTRN

• 1D: 0.37%
• 1M: 0.10%
• 6M: -9.59%
• YTD: -10.45%
• 1Y: -21.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTRN Global X Bitcoin Trend Strategy ETF	$4.93K	$3.86K	$41.54K
ETH Grayscale Ethereum Staking Mini ETF	$31.27M	$33.28M	$46.00M

ETH vs. BTRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ETH Grayscale Ethereum Staking Mini ETF	-36.49%	-10.89%	-4.58%
BTRN Global X Bitcoin Trend Strategy ETF	-10.45%	4.89%	23.31%

Correlation

The correlation between ETH and BTRN is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.58

The correlation between ETH and BTRN has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

ETH vs. BTRN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETH

ETH Risk / Return Rank: 4
ETH Sharpe Ratio Rank: 4
ETH Sortino Ratio Rank: 4
ETH Omega Ratio Rank: 4
ETH Calmar Ratio Rank: 4
ETH Martin Ratio Rank: 4

BTRN

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETH vs. BTRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Staking Mini ETF (ETH) and Global X Bitcoin Trend Strategy ETF (BTRN). 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.

	ETH	BTRN	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	-1.30	+0.61
Sortino ratio: Return per unit of downside risk	-0.82	-1.74	+0.92
Omega ratio: Gain probability vs. loss probability	0.91	0.76	+0.15
Calmar ratio: Return relative to maximum drawdown	-0.68	-0.84	+0.16
Martin ratio: Return relative to average drawdown	-1.02	-1.26	+0.24

ETH vs. BTRN - Sharpe Ratio Comparison

The current ETH Sharpe Ratio is -0.69, which is higher than the BTRN Sharpe Ratio of -1.30. The chart below compares the historical Sharpe Ratios of ETH and BTRN, 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

ETH vs. BTRN - Drawdown Comparison

The maximum ETH drawdown since its inception was -67.52%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for ETH and BTRN.

Drawdown Indicators

	ETH	BTRN	Difference
Max Drawdown Largest peak-to-trough decline	-67.52%	-36.97%	-30.55%
Max Drawdown (1Y) Largest decline over 1 year	-67.52%	-25.73%	-41.79%
Current Drawdown Current decline from peak	-60.89%	-26.25%	-34.64%
Average Drawdown Average peak-to-trough decline	-35.09%	-15.18%	-19.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.23%	17.12%	+28.11%

Volatility

ETH vs. BTRN - Volatility Comparison

Grayscale Ethereum Staking Mini ETF (ETH) has a higher volatility of 12.23% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 2.68%. This indicates that ETH's price experiences larger fluctuations and is considered to be riskier than BTRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETH	BTRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.23%	2.68%	+9.55%
Volatility (6M) Calculated over the trailing 6-month period	45.64%	9.75%	+35.89%
Volatility (1Y) Calculated over the trailing 1-year period	67.03%	16.65%	+50.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.15%	29.94%	+41.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.15%	29.94%	+41.21%

ETH vs. BTRN - Expense Ratio Comparison

ETH has a 0.15% expense ratio, which is lower than BTRN's 0.95% expense ratio.

Dividends

ETH vs. BTRN - Dividend Comparison

ETH has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 31.35%.

Position	TTM	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	31.35%	27.76%	2.56%
ETH Grayscale Ethereum Staking Mini ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETH and BTRN in my portfolio?

ETH and BTRN have a correlation of 0.61, 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 BTRN?

ETH has higher volatility (12.23%) compared to BTRN (2.68%). In terms of maximum drawdown, ETH dropped -67.52% vs BTRN's -36.97%.

Which ETF is better, ETH or BTRN?

On 1-year performance, BTRN leads with -21.49% vs -45.97% for ETH. On fees, ETH is cheaper at 0.15% per year. On volatility, BTRN has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETH or BTRN?

Over the 1-year period, BTRN has performed better with a -21.49% return vs -45.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETH or BTRN?

ETH is cheaper with a 0.15% expense ratio, compared with 0.95% for BTRN.

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

BTRN has the higher dividend yield at 31.35%, compared with 0.00% for ETH.

What is the main difference between ETH and BTRN?

They also come from different issuers: Grayscale and Global X. Their fees differ too: 0.15% for ETH and 0.95% for BTRN.

Which has better risk-adjusted returns?

ETH currently has the higher Sharpe Ratio (-0.69 vs -1.30), 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.