GBTC vs. GSOL

Last updated Jun 26, 2026

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. Their correlation of 0.91 suggests significant overlap in exposure. GBTC charges 1.50%/yr vs 0.35%/yr for GSOL.

Performance

GBTC vs. GSOL - Performance Comparison

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

Returns By Period

GBTC

• 1D: -1.10%
• 1M: -22.12%
• YTD: -32.86%
• 6M: -32.70%
• 1Y: -45.93%
• 3Y*: 36.17%
• 5Y*: 10.64%
• 10Y*: 44.37%

GSOL

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GBTC vs. GSOL - Yearly Performance Comparison

	2026 (YTD)
GBTC Grayscale Bitcoin Trust ETF	-21.07%
GSOL Grayscale Solana Staking ETF	-17.88%

Correlation

The correlation between GBTC and GSOL is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.91

Return for Risk

GBTC vs. GSOL — Risk / Return Rank

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

GBTC

GBTC Risk / Return Rank: 1
GBTC Sharpe Ratio Rank: 1
GBTC Sortino Ratio Rank: 1
GBTC Omega Ratio Rank: 2
GBTC Calmar Ratio Rank: 2
GBTC Martin Ratio Rank: 1

GSOL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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.

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.

	GBTC	GSOL	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	—	—
Sortino ratio: Return per unit of downside risk	-1.57	—	—
Omega ratio: Gain probability vs. loss probability	0.83	—	—
Calmar ratio: Return relative to maximum drawdown	-0.86	—	—
Martin ratio: Return relative to average drawdown	-1.48	—	—

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 -22.60%. Use the drawdown chart below to compare losses from any high point for GBTC and GSOL.

Drawdown Indicators

	GBTC	GSOL	Difference
Max Drawdown Largest peak-to-trough decline	-89.91%	-22.60%	-67.31%
Max Drawdown (1Y) Largest decline over 1 year	-53.37%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-53.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-85.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-89.91%	—	—
Current Drawdown Current decline from peak	-53.37%	-19.35%	-34.02%
Average Drawdown Average peak-to-trough decline	-43.45%	-13.54%	-29.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.15%	—	—

Volatility

Volatility by Period

	GBTC	GSOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	34.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.31%	79.90%	-35.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.02%	79.90%	-17.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.44%	79.90%	+1.54%

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

Can I hold both GBTC and GSOL in my portfolio?

With a correlation of 0.91, 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.

Which ETF is better, GBTC or GSOL?

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.

Which ETF is cheaper, GBTC or GSOL?

GSOL is cheaper with a 0.35% expense ratio, compared with 1.50% for GBTC.

Which ETF pays a higher dividend yield, GBTC or GSOL?

GBTC and GSOL have nearly identical dividend yields, around 0.00%.

What is the main difference between GBTC and GSOL?

Their fees differ too: 1.50% for GBTC and 0.35% for GSOL.