GLNK vs. BITC

Last updated Apr 2, 2026

Compare and contrast key facts about Grayscale Chainlink Trust ETF (GLNK) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC).

GLNK and BITC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLNK is a passively managed fund by Grayscale that tracks the performance of the Chainlink (LINK). It was launched on Feb 26, 2021. BITC is an actively managed fund by Bitwise. It was launched on Mar 20, 2023.

Performance

GLNK vs. BITC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Chainlink Trust ETF (GLNK) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). The values are adjusted to include any dividend payments, if applicable.

GLNK vs. BITC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GLNK Grayscale Chainlink Trust ETF	-26.38%	-87.10%	38.45%	585.51%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	-0.30%	-20.46%	97.86%	42.29%

Returns By Period

In the year-to-date period, GLNK achieves a -26.38% return, which is significantly lower than BITC's -0.30% return.

GLNK

• 1D: 3.22%
• 1M: -0.12%
• YTD: -26.38%
• 6M: -70.84%
• 1Y: -73.49%
• 3Y*: -7.70%
• 5Y*: —
• 10Y*: —

BITC

• 1D: 0.09%
• 1M: -0.03%
• YTD: -0.30%
• 6M: -17.10%
• 1Y: -9.40%
• 3Y*: 31.17%
• 5Y*: —
• 10Y*: —

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

GLNK vs. BITC - Expense Ratio Comparison

GLNK has a 2.50% expense ratio, which is higher than BITC's 0.88% expense ratio.

GLNK

Grayscale Chainlink Trust ETF

BITC

Bitwise Bitcoin Strategy Optimum Roll ETF

Return for Risk

GLNK vs. BITC — Risk / Return Rank

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

GLNK

GLNK Risk / Return Rank: 3
GLNK Sharpe Ratio Rank: 4
GLNK Sortino Ratio Rank: 5
GLNK Omega Ratio Rank: 5
GLNK Calmar Ratio Rank: 1
GLNK Martin Ratio Rank: 3

BITC

BITC Risk / Return Rank: 6
BITC Sharpe Ratio Rank: 6
BITC Sortino Ratio Rank: 6
BITC Omega Ratio Rank: 5
BITC Calmar Ratio Rank: 6
BITC Martin Ratio Rank: 8

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.

GLNK vs. BITC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Chainlink Trust ETF (GLNK) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.

	GLNK	BITC	Difference
Sharpe ratio Return per unit of total volatility	-0.55	-0.35	-0.19
Sortino ratio Return per unit of downside risk	-0.48	-0.33	-0.15
Omega ratio Gain probability vs. loss probability	0.95	0.95	-0.01
Calmar ratio Return relative to maximum drawdown	-0.82	-0.35	-0.47
Martin ratio Return relative to average drawdown	-1.19	-0.56	-0.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLNK vs. BITC - Sharpe Ratio Comparison

The current GLNK Sharpe Ratio is -0.55, which is lower than the BITC Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of GLNK and BITC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GLNK	BITC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	-0.35	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.64	-0.64

Correlation

The correlation between GLNK and BITC is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GLNK vs. BITC - Dividend Comparison

GLNK has not paid dividends to shareholders, while BITC's dividend yield for the trailing twelve months is around 3.37%.

	TTM	2025	2024	2023
GLNK Grayscale Chainlink Trust ETF	0.00%	0.00%	0.00%	0.00%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.37%	3.36%	42.68%	5.82%

Drawdowns

GLNK vs. BITC - Drawdown Comparison

The maximum GLNK drawdown since its inception was -95.82%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for GLNK and BITC.

Drawdown Indicators

	GLNK	BITC	Difference
Max Drawdown Largest peak-to-trough decline	-95.82%	-38.51%	-57.31%
Max Drawdown (1Y) Largest decline over 1 year	-88.29%	-26.51%	-61.78%
Current Drawdown Current decline from peak	-95.27%	-31.48%	-63.79%
Average Drawdown Average peak-to-trough decline	-53.92%	-15.83%	-38.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	61.11%	16.61%	+44.50%

Volatility

GLNK vs. BITC - Volatility Comparison

Grayscale Chainlink Trust ETF (GLNK) has a higher volatility of 17.91% compared to Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) at 9.80%. This indicates that GLNK's price experiences larger fluctuations and is considered to be riskier than BITC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLNK	BITC	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.91%	9.80%	+8.11%
Volatility (6M) Calculated over the trailing 6-month period	72.33%	19.16%	+53.17%
Volatility (1Y) Calculated over the trailing 1-year period	134.57%	26.66%	+107.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.26%	47.57%	+120.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.26%	47.57%	+120.69%