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GBTC vs. ARKB
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between GBTC and ARKB is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

GBTC vs. ARKB

Last updated May 30, 2025

Compare and contrast key facts about Grayscale Bitcoin Trust (BTC) (GBTC) and ARK 21Shares Bitcoin ETF (ARKB).

ARKB is a passively managed fund by ARK Investment Management that tracks the performance of the CME CF Bitcoin Reference Rate - New York Variant. It was launched on Jan 10, 2024.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GBTC or ARKB.

Performance

GBTC vs. ARKB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Bitcoin Trust (BTC) (GBTC) and ARK 21Shares Bitcoin ETF (ARKB). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

GBTC:

1.08

ARKB:

1.09

Sortino Ratio

GBTC:

1.61

ARKB:

1.63

Omega Ratio

GBTC:

1.19

ARKB:

1.19

Calmar Ratio

GBTC:

1.82

ARKB:

1.85

Martin Ratio

GBTC:

4.03

ARKB:

4.06

Ulcer Index

GBTC:

12.83%

ARKB:

12.85%

Daily Std Dev

GBTC:

52.86%

ARKB:

52.74%

Max Drawdown

GBTC:

-89.91%

ARKB:

-28.15%

Current Drawdown

GBTC:

-5.08%

ARKB:

-5.07%

Returns By Period

The year-to-date returns for both investments are quite close, with GBTC having a 12.48% return and ARKB slightly higher at 12.96%.

GBTC

YTD

12.48%

1M

10.64%

6M

8.38%

1Y

56.37%

3Y*

70.13%

5Y*

53.69%

10Y*

75.56%

ARKB

YTD

12.96%

1M

10.79%

6M

9.05%

1Y

56.74%

3Y*

N/A

5Y*

N/A

10Y*

N/A

*Annualized

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Grayscale Bitcoin Trust (BTC)

ARK 21Shares Bitcoin ETF

Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

GBTC vs. ARKB — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GBTC
The Risk-Adjusted Performance Rank of GBTC is 8282
Overall Rank
The Sharpe Ratio Rank of GBTC is 8484
Sharpe Ratio Rank
The Sortino Ratio Rank of GBTC is 7979
Sortino Ratio Rank
The Omega Ratio Rank of GBTC is 7474
Omega Ratio Rank
The Calmar Ratio Rank of GBTC is 9191
Calmar Ratio Rank
The Martin Ratio Rank of GBTC is 8383
Martin Ratio Rank
ARKB
The Risk-Adjusted Performance Rank of ARKB is 8282
Overall Rank
The Sharpe Ratio Rank of ARKB is 8282
Sharpe Ratio Rank
The Sortino Ratio Rank of ARKB is 8383
Sortino Ratio Rank
The Omega Ratio Rank of ARKB is 7777
Omega Ratio Rank
The Calmar Ratio Rank of ARKB is 9191
Calmar Ratio Rank
The Martin Ratio Rank of ARKB is 7979
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

GBTC vs. ARKB - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust (BTC) (GBTC) and ARK 21Shares Bitcoin ETF (ARKB). 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.

The current GBTC Sharpe Ratio is 1.08, which is comparable to the ARKB Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of GBTC and ARKB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

GBTC vs. ARKB - Dividend Comparison

Neither GBTC nor ARKB has paid dividends to shareholders.

TTM20242023202220212020201920182017
GBTC
Grayscale Bitcoin Trust (BTC)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.26%
ARKB
ARK 21Shares Bitcoin ETF 		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

GBTC vs. ARKB - Drawdown Comparison

The maximum GBTC drawdown since its inception was -89.91%, which is greater than ARKB's maximum drawdown of -28.15%. Use the drawdown chart below to compare losses from any high point for GBTC and ARKB.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

GBTC vs. ARKB - Volatility Comparison

Grayscale Bitcoin Trust (BTC) (GBTC) and ARK 21Shares Bitcoin ETF (ARKB) have volatilities of 9.46% and 9.44%, 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.

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