GAVA vs. MSBT
GAVA (Grayscale Avalanche Staking ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. GAVA is actively managed, while MSBT is passively managed. Their 0.69 correlation means they have sometimes moved together and sometimes differently. GAVA charges 0.35%/yr vs 0.14%/yr for MSBT.
Performance
GAVA vs. MSBT - Performance Comparison
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Returns By Period
GAVA
- 1D
- -1.11%
- 1M
- -5.05%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
MSBT
- 1D
- -2.96%
- 1M
- 2.33%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $25.36K | $35.54K | $52.60K | |
| $6.64M | $6.25M | $10.51M |
GAVA vs. MSBT - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
GAVA Grayscale Avalanche Staking ETF | -26.60% |
MSBT Morgan Stanley Bitcoin Trust | -13.37% |
Correlation
The correlation between GAVA and MSBT is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026 | 0.69 |
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Return for Risk
GAVA vs. MSBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Avalanche Staking ETF (GAVA) and Morgan Stanley Bitcoin Trust (MSBT). 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.
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Drawdowns
GAVA vs. MSBT - Drawdown Comparison
The maximum GAVA drawdown since its inception was -40.42%, which is greater than MSBT's maximum drawdown of -28.33%. Use the drawdown chart below to compare losses from any high point for GAVA and MSBT.
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Drawdown Indicators
| GAVA | MSBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.42% | -28.33% | -12.09% |
Current DrawdownCurrent decline from peak | -37.27% | -23.35% | -13.92% |
Average DrawdownAverage peak-to-trough decline | -19.71% | -13.41% | -6.30% |
Volatility
GAVA vs. MSBT - Volatility Comparison
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Volatility by Period
| GAVA | MSBT | Difference | |
|---|---|---|---|
Volatility (1Y)Calculated over the trailing 1-year period | 52.40% | 35.47% | +16.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.40% | 35.47% | +16.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.40% | 35.47% | +16.93% |
GAVA vs. MSBT - Expense Ratio Comparison
GAVA has a 0.35% expense ratio, which is higher than MSBT's 0.14% expense ratio.
Dividends
GAVA vs. MSBT - Dividend Comparison
Neither GAVA nor MSBT has paid dividends to shareholders.
Frequently Asked Questions
GAVA and MSBT 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.
On fees, MSBT is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSBT is cheaper with a 0.14% expense ratio, compared with 0.35% for GAVA.
GAVA and MSBT have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Grayscale and Morgan Stanley. Their fees differ too: 0.35% for GAVA and 0.14% for MSBT.
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