GBTC vs. LTCN
GBTC (Grayscale Bitcoin Trust ETF) and LTCN (Grayscale Litecoin Trust) are both Cryptocurrency funds from Grayscale - GBTC tracks the CoinDesk Bitcoin Benchmark Rate Index while LTCN tracks the CoinDesk Litecoin Price Index. Both are passively managed. Over the past 5 years, GBTC returned 9.81%/yr vs -59.10%/yr for LTCN. A 0.56 correlation means they provide meaningful diversification when combined. GBTC charges 1.50%/yr vs 2.50%/yr for LTCN.
Performance
GBTC vs. LTCN - Performance Comparison
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Returns By Period
In the year-to-date period, GBTC achieves a -27.82% return, which is significantly higher than LTCN's -42.76% return.
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%
LTCN
- 1D
- -0.64%
- 1M
- -19.52%
- YTD
- -42.76%
- 6M
- -51.38%
- 1Y
- -52.40%
- 3Y*
- -6.83%
- 5Y*
- -59.10%
- 10Y*
- —
GBTC vs. LTCN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBTC Grayscale Bitcoin Trust ETF | -27.82% | -7.65% | 113.81% | 317.61% | -75.80% | 7.03% | 122.38% |
LTCN Grayscale Litecoin Trust | -42.76% | -54.37% | -18.79% | 650.00% | -77.17% | -96.84% | 1,165.22% |
Correlation
The correlation between GBTC and LTCN is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020 | 0.56 |
The correlation between GBTC and LTCN shifts across timeframes, from 0.56 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBTC vs. LTCN — Risk / Return Rank
GBTC
LTCN
GBTC vs. LTCN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Bitcoin Trust ETF (GBTC) and Grayscale Litecoin Trust (LTCN). 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 | LTCN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.88 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.75 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.40 | -1.21 | -0.19 |
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 | LTCN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | -0.75 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | -0.56 | +0.71 |
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 | -0.20 | +0.85 |
Drawdowns
GBTC vs. LTCN - Drawdown Comparison
The maximum GBTC drawdown since its inception was -89.91%, smaller than the maximum LTCN drawdown of -99.58%. Use the drawdown chart below to compare losses from any high point for GBTC and LTCN.
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Drawdown Indicators
| GBTC | LTCN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.91% | -99.58% | +9.67% |
Max Drawdown (1Y)Largest decline over 1 year | -49.87% | -69.62% | +19.75% |
Max Drawdown (3Y)Largest decline over 3 years | -49.87% | -92.89% | +43.02% |
Max Drawdown (5Y)Largest decline over 5 years | -85.42% | -99.28% | +13.86% |
Max Drawdown (10Y)Largest decline over 10 years | -89.91% | — | — |
Current DrawdownCurrent decline from peak | -49.87% | -99.33% | +49.46% |
Average DrawdownAverage peak-to-trough decline | -43.43% | -89.62% | +46.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.81% | 43.18% | -14.37% |
Volatility
GBTC vs. LTCN - Volatility Comparison
The current volatility for Grayscale Bitcoin Trust ETF (GBTC) is 9.07%, while Grayscale Litecoin Trust (LTCN) has a volatility of 12.32%. This indicates that GBTC experiences smaller price fluctuations and is considered to be less risky than LTCN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBTC | LTCN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 12.32% | -3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 33.86% | 41.08% | -7.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.69% | 69.66% | -25.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.44% | 106.66% | -44.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.20% | 141.37% | -59.17% |
GBTC vs. LTCN - Expense Ratio Comparison
GBTC has a 1.50% expense ratio, which is lower than LTCN's 2.50% expense ratio.
Dividends
GBTC vs. LTCN - Dividend Comparison
Neither GBTC nor LTCN 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% |
LTCN Grayscale Litecoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBTC and LTCN have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTCN has higher volatility (12.32%) compared to GBTC (9.07%). In terms of maximum drawdown, GBTC dropped -89.91% vs LTCN's -99.58%.
On 5-year performance, GBTC leads with 9.81% vs -59.10% for LTCN. On fees, GBTC is cheaper at 1.50% per year. On volatility, GBTC has been the lower-risk option at 9.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GBTC has performed better with a 9.81% return vs -59.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBTC is cheaper with a 1.50% expense ratio, compared with 2.50% for LTCN.
GBTC and LTCN have nearly identical dividend yields, around 0.00%.
GBTC tracks CoinDesk Bitcoin Benchmark Rate Index, while LTCN tracks CoinDesk Litecoin Price Index. Their fees differ too: 1.50% for GBTC and 2.50% for LTCN.
LTCN currently has the higher Sharpe Ratio (-0.75 vs -0.93), 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.
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