GFOF vs. BITQ

Last updated Aug 2, 2026

GFOF (Grayscale Future of Finance ETF) and BITQ (Bitwise Crypto Industry Innovators ETF) are both Blockchain funds - GFOF tracks the Bloomberg Grayscale Future of Finance Index while BITQ tracks the Bitwise Crypto Innovators 30 Index. Both are passively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. GFOF charges 0.70%/yr vs 0.85%/yr for BITQ.

Performance

GFOF vs. BITQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Future of Finance ETF (GFOF) and Bitwise Crypto Industry Innovators ETF (BITQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GFOF

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BITQ

• 1D: -3.47%
• 1M: -4.20%
• 6M: 7.60%
• YTD: 14.35%
• 1Y: 20.58%
• 3Y*: 33.54%
• 5Y*: 1.06%
• 10Y*: —
• ALL TIME*: -0.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITQ Bitwise Crypto Industry Innovators ETF	$2.41M	$2.10M	$3.18M

GFOF vs. BITQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-69.18%
BITQ Bitwise Crypto Industry Innovators ETF	14.35%	18.00%	46.97%	246.83%	-79.35%

Correlation

The correlation between GFOF and BITQ is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.77

The correlation between GFOF and BITQ shifts across timeframes, from 0.62 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.

GFOF vs. BITQ - Sectors Allocation Comparison

Sectors	GFOF	BITQ
Financial Services	49.1%	77.6%
Technology	31.0%	19.2%
Healthcare	8.5%	-
Industrials	3.4%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	3.1%
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

GFOF vs. BITQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GFOF

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

BITQ

BITQ Risk / Return Rank: 17
BITQ Sharpe Ratio Rank: 15
BITQ Sortino Ratio Rank: 20
BITQ Omega Ratio Rank: 19
BITQ Calmar Ratio Rank: 15
BITQ Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GFOF vs. BITQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Future of Finance ETF (GFOF) and Bitwise Crypto Industry Innovators ETF (BITQ). 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.

	GFOF	BITQ	Difference
Sharpe ratio: Return per unit of total volatility	—	0.20	—
Sortino ratio: Return per unit of downside risk	—	0.71	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	0.26	—
Martin ratio: Return relative to average drawdown	—	0.53	—

Drawdowns

Drawdown Indicators

	GFOF	BITQ	Difference
Max Drawdown Largest peak-to-trough decline	—	-90.32%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-44.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-51.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.32%	—
Current Drawdown Current decline from peak	—	-29.70%	—
Average Drawdown Average peak-to-trough decline	—	-51.99%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	22.41%	—

Volatility

Volatility by Period

	GFOF	BITQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	44.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	59.30%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	67.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	67.16%	—

GFOF vs. BITQ - Expense Ratio Comparison

GFOF has a 0.70% expense ratio, which is lower than BITQ's 0.85% expense ratio.

Dividends

GFOF vs. BITQ - Dividend Comparison

Neither GFOF nor BITQ has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BITQ Bitwise Crypto Industry Innovators ETF	0.00%	0.00%	0.90%	1.51%	0.00%	3.12%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GFOF and BITQ in my portfolio?

GFOF and BITQ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GFOF or BITQ?

On fees, GFOF is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GFOF or BITQ?

GFOF is cheaper with a 0.70% expense ratio, compared with 0.85% for BITQ.

Which ETF pays a higher dividend yield, GFOF or BITQ?

GFOF and BITQ have nearly identical dividend yields, around 0.00%.

What is the main difference between GFOF and BITQ?

GFOF tracks Bloomberg Grayscale Future of Finance Index, while BITQ tracks Bitwise Crypto Innovators 30 Index. They also come from different issuers: Grayscale and Bitwise. Their fees differ too: 0.70% for GFOF and 0.85% for BITQ.