GBTC vs. GSOL
GBTC (Grayscale Bitcoin Trust ETF) and GSOL (Grayscale Solana Staking ETF) are both Cryptocurrency funds from Grayscale. GBTC is passively managed, while GSOL is actively managed. With a 1.00 correlation, they move nearly in lockstep. GBTC charges 1.50%/yr vs 0.35%/yr for GSOL.
Performance
GBTC vs. GSOL - Performance Comparison
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Returns By Period
GBTC
- 1D
- -2.74%
- 1M
- -22.25%
- YTD
- -27.82%
- 6M
- -31.83%
- 1Y
- -40.35%
- 3Y*
- 53.36%
- 5Y*
- 9.81%
- 10Y*
- 49.21%
GSOL
- 1D
- -4.08%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GBTC vs. GSOL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
GBTC Grayscale Bitcoin Trust ETF | -13.35% |
GSOL Grayscale Solana Staking ETF | -15.93% |
Correlation
The correlation between GBTC and GSOL is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 29, 2026 | 1.00 |
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Return for Risk
GBTC vs. GSOL — Risk / Return Rank
GBTC
GSOL
GBTC vs. GSOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and Grayscale Solana Staking ETF (GSOL). 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.
| GBTC | GSOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.85 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | — | — |
| Martin ratioReturn relative to average drawdown | -1.40 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBTC | GSOL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | -2.47 | +3.13 |
Drawdowns
GBTC vs. GSOL - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, which is greater than GSOL's maximum drawdown of -15.93%. Use the drawdown chart below to compare losses from any high point for GBTC and GSOL.
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Drawdown Indicators
| GBTC | GSOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -15.93% | -73.98% |
Max Drawdown (1Y)Largest decline over 1 year | -49.87% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -49.87% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -85.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | — | — |
Current DrawdownCurrent decline from peak | -49.87% | -15.93% | -33.94% |
Average DrawdownAverage peak-to-trough decline | -43.43% | -7.61% | -35.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.81% | — | — |
Volatility
GBTC vs. GSOL - Volatility Comparison
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Volatility by Period
| GBTC | GSOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 33.86% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 43.69% | 45.17% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.44% | 45.17% | +17.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.20% | 45.17% | +37.03% |
GBTC vs. GSOL - Expense Ratio Comparison
GBTC has a 1.50% expense ratio, which is higher than GSOL's 0.35% expense ratio.
Dividends
GBTC vs. GSOL - Dividend Comparison
Neither GBTC nor GSOL has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.61% |
GSOL Grayscale Solana Staking ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, GBTC and GSOL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GSOL is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSOL is cheaper with a 0.35% expense ratio, compared with 1.50% for GBTC.
GBTC and GSOL have nearly identical dividend yields, around 0.00%.
Their fees differ too: 1.50% for GBTC and 0.35% for GSOL.
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