GLIV vs. BTRN
GLIV (Grayscale Livepeer Trust (LPT)) and BTRN (Global X Bitcoin Trend Strategy ETF) are both Cryptocurrency funds. GLIV is actively managed, while BTRN is passively managed. Over the past year, GLIV returned -73.83% vs -18.78% for BTRN. At a 0.27 correlation, their price movements are largely independent.
Performance
GLIV vs. BTRN - Performance Comparison
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Returns By Period
In the year-to-date period, GLIV achieves a -34.03% return, which is significantly lower than BTRN's -10.63% return.
GLIV
- 1D
- 1.29%
- 1M
- -19.90%
- YTD
- -34.03%
- 6M
- -34.31%
- 1Y
- -73.83%
- 3Y*
- -32.91%
- 5Y*
- —
- 10Y*
- —
BTRN
- 1D
- -0.03%
- 1M
- -7.03%
- YTD
- -10.63%
- 6M
- -10.63%
- 1Y
- -18.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLIV vs. BTRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLIV Grayscale Livepeer Trust (LPT) | -34.03% | -84.65% | -46.57% |
BTRN Global X Bitcoin Trend Strategy ETF | -10.63% | 4.89% | 3.25% |
Correlation
The correlation between GLIV and BTRN is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.27 |
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Return for Risk
GLIV vs. BTRN — Risk / Return Rank
GLIV
BTRN
GLIV vs. BTRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Livepeer Trust (LPT) (GLIV) and Global X Bitcoin Trend Strategy ETF (BTRN). 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.
| GLIV | BTRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.81 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.71 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.21 | -1.17 | -0.04 |
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Drawdowns
GLIV vs. BTRN - Drawdown Comparison
The maximum GLIV drawdown since its inception was -97.65%, which is greater than BTRN's maximum drawdown of -36.97%. Use the drawdown chart below to compare losses from any high point for GLIV and BTRN.
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Drawdown Indicators
| GLIV | BTRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.65% | -36.97% | -60.68% |
Max Drawdown (1Y)Largest decline over 1 year | -84.40% | -26.45% | -57.95% |
Max Drawdown (3Y)Largest decline over 3 years | -97.65% | — | — |
Current DrawdownCurrent decline from peak | -97.47% | -26.40% | -71.07% |
Average DrawdownAverage peak-to-trough decline | -71.81% | -14.72% | -57.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.92% | 16.08% | +44.84% |
Volatility
GLIV vs. BTRN - Volatility Comparison
Grayscale Livepeer Trust (LPT) (GLIV) has a higher volatility of 24.08% compared to Global X Bitcoin Trend Strategy ETF (BTRN) at 3.65%. This indicates that GLIV's price experiences larger fluctuations and is considered to be riskier than BTRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLIV | BTRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.08% | 3.65% | +20.43% |
Volatility (6M)Calculated over the trailing 6-month period | 71.59% | 10.21% | +61.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 124.52% | 18.50% | +106.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 174.97% | 30.51% | +144.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 174.97% | 30.51% | +144.46% |
Dividends
GLIV vs. BTRN - Dividend Comparison
GLIV has not paid dividends to shareholders, while BTRN's dividend yield for the trailing twelve months is around 31.41%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 31.41% | 27.76% | 2.56% |
GLIV Grayscale Livepeer Trust (LPT) | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLIV and BTRN have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLIV has higher volatility (24.08%) compared to BTRN (3.65%). In terms of maximum drawdown, GLIV dropped -97.65% vs BTRN's -36.97%.
On 1-year performance, BTRN leads with -18.78% vs -73.83% for GLIV. On volatility, BTRN has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BTRN has performed better with a -18.78% return vs -73.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BTRN has the higher dividend yield at 31.41%, compared with 0.00% for GLIV.
They also come from different issuers: Grayscale and Global X.
GLIV currently has the higher Sharpe Ratio (-0.60 vs -1.02), 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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