GLIV vs. MSBT

Last updated Jun 30, 2026

GLIV (Grayscale Livepeer Trust (LPT)) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. GLIV is actively managed, while MSBT is passively managed. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

GLIV vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Livepeer Trust (LPT) (GLIV) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GLIV

• 1D: 1.29%
• 1M: -19.90%
• YTD: -34.03%
• 6M: -34.31%
• 1Y: -73.83%
• 3Y*: -32.91%
• 5Y*: —
• 10Y*: —

MSBT

• 1D: 1.05%
• 1M: -17.85%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLIV vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
GLIV Grayscale Livepeer Trust (LPT)	-14.21%
MSBT Morgan Stanley Bitcoin Trust	-16.83%

Correlation

The correlation between GLIV and MSBT is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.54

Return for Risk

GLIV vs. MSBT — Risk / Return Rank

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

GLIV

GLIV Risk / Return Rank: 4
GLIV Sharpe Ratio Rank: 5
GLIV Sortino Ratio Rank: 5
GLIV Omega Ratio Rank: 5
GLIV Calmar Ratio Rank: 2
GLIV Martin Ratio Rank: 4

MSBT

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.

GLIV vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Livepeer Trust (LPT) (GLIV) and Morgan Stanley Bitcoin Trust (MSBT). 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	MSBT	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	—	—
Sortino ratio: Return per unit of downside risk	-0.73	—	—
Omega ratio: Gain probability vs. loss probability	0.92	—	—
Calmar ratio: Return relative to maximum drawdown	-0.88	—	—
Martin ratio: Return relative to average drawdown	-1.21	—	—

Drawdowns

GLIV vs. MSBT - Drawdown Comparison

The maximum GLIV drawdown since its inception was -97.65%, which is greater than MSBT's maximum drawdown of -27.86%. Use the drawdown chart below to compare losses from any high point for GLIV and MSBT.

Drawdown Indicators

	GLIV	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-97.65%	-27.86%	-69.79%
Max Drawdown (1Y) Largest decline over 1 year	-84.40%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-97.65%	—	—
Current Drawdown Current decline from peak	-97.47%	-26.41%	-71.06%
Average Drawdown Average peak-to-trough decline	-71.81%	-9.79%	-62.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.92%	—	—

Volatility

Volatility by Period

	GLIV	MSBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	71.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	124.52%	36.81%	+87.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	174.97%	36.81%	+138.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	174.97%	36.81%	+138.16%

Dividends

GLIV vs. MSBT - Dividend Comparison

Neither GLIV nor MSBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLIV and MSBT in my portfolio?

GLIV and MSBT have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, GLIV or MSBT?

GLIV and MSBT have nearly identical dividend yields, around 0.00%.

What is the main difference between GLIV and MSBT?

They also come from different issuers: Grayscale and Morgan Stanley.