GFOF vs. BTC

Last updated Jun 24, 2026

GFOF (Grayscale Future of Finance ETF) and BTC (Grayscale Bitcoin Mini Trust ETF) are both exchange-traded funds - GFOF is a Blockchain fund tracking the Bloomberg Grayscale Future of Finance Index, while BTC is a Cryptocurrency fund actively managed by Grayscale. GFOF is passively managed, while BTC is actively managed. At a 0.28 correlation, their price movements are largely independent. GFOF charges 0.70%/yr vs 0.15%/yr for BTC.

Performance

GFOF vs. BTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Future of Finance ETF (GFOF) and Grayscale Bitcoin Mini Trust ETF (BTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GFOF

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

BTC

• 1D: -3.23%
• 1M: -17.80%
• YTD: -28.84%
• 6M: -28.95%
• 1Y: -39.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GFOF vs. BTC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	49.97%
BTC Grayscale Bitcoin Mini Trust ETF	-28.84%	-7.50%	41.93%

Correlation

The correlation between GFOF and BTC is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	0.28

Return for Risk

GFOF vs. BTC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

BTC

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

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.

GFOF vs. BTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Future of Finance ETF (GFOF) and Grayscale Bitcoin Mini Trust ETF (BTC). 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	BTC	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.90	—
Sortino ratio: Return per unit of downside risk	—	-1.26	—
Omega ratio: Gain probability vs. loss probability	—	0.86	—
Calmar ratio: Return relative to maximum drawdown	—	-0.77	—
Martin ratio: Return relative to average drawdown	—	-1.30	—

Drawdowns

Drawdown Indicators

	GFOF	BTC	Difference
Max Drawdown Largest peak-to-trough decline	—	-51.97%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-51.97%	—
Current Drawdown Current decline from peak	—	-50.40%	—
Average Drawdown Average peak-to-trough decline	—	-17.66%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.52%	—

Volatility

Volatility by Period

	GFOF	BTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	44.23%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	48.26%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	48.26%	—

GFOF vs. BTC - Expense Ratio Comparison

GFOF has a 0.70% expense ratio, which is higher than BTC's 0.15% expense ratio.

Dividends

GFOF vs. BTC - Dividend Comparison

Neither GFOF nor BTC has paid dividends to shareholders.

Position	TTM	2025	2024	2023
BTC Grayscale Bitcoin Mini Trust ETF	0.00%	0.00%	0.00%	0.00%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%

Frequently Asked Questions

Can I hold both GFOF and BTC in my portfolio?

GFOF and BTC have a correlation of 0.28, 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 BTC?

On fees, BTC is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GFOF or BTC?

BTC is cheaper with a 0.15% expense ratio, compared with 0.70% for GFOF.

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

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

What is the main difference between GFOF and BTC?

GFOF is categorized as Blockchain, while BTC is Cryptocurrency. Their fees differ too: 0.70% for GFOF and 0.15% for BTC.