GLNK vs. CLNK

Last updated Aug 4, 2026

GLNK (Grayscale Chainlink Trust ETF) and CLNK (Bitwise Chainlink ETF) are both Cryptocurrency funds - GLNK tracks the Chainlink (LINK) while CLNK tracks the Chainlink (LINK) spot price. Both are passively managed. Their 0.99 correlation means they have historically moved very closely together. GLNK charges 2.50%/yr vs 0.34%/yr for CLNK.

Performance

GLNK vs. CLNK - Performance Comparison

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

Returns By Period

GLNK

• 1D: 0.76%
• 1M: 5.89%
• 6M: -15.88%
• YTD: -33.13%
• 1Y: -73.43%
• 3Y*: -18.59%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.20%

CLNK

• 1D: 0.75%
• 1M: 6.49%
• 6M: -15.84%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
CLNK Bitwise Chainlink ETF	$181.62K	$161.12K	$305.78K
GLNK Grayscale Chainlink Trust ETF	$2.64M	$1.96M	$1.98M

GLNK vs. CLNK - Yearly Performance Comparison

	2026 (YTD)
GLNK Grayscale Chainlink Trust ETF	-40.48%
CLNK Bitwise Chainlink ETF	-41.22%

Correlation

The correlation between GLNK and CLNK is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.99

Return for Risk

GLNK vs. CLNK — Risk / Return Rank

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

GLNK

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

CLNK

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

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.

GLNK vs. CLNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Chainlink Trust ETF (GLNK) and Bitwise Chainlink ETF (CLNK). 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.

	GLNK	CLNK	Difference
Sharpe ratio: Return per unit of total volatility	-0.74	—	—
Sortino ratio: Return per unit of downside risk	-1.18	—	—
Omega ratio: Gain probability vs. loss probability	0.86	—	—
Calmar ratio: Return relative to maximum drawdown	-0.82	—	—
Martin ratio: Return relative to average drawdown	-0.98	—	—

Drawdowns

GLNK vs. CLNK - Drawdown Comparison

The maximum GLNK drawdown since its inception was -96.25%, which is greater than CLNK's maximum drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for GLNK and CLNK.

Drawdown Indicators

	GLNK	CLNK	Difference
Max Drawdown Largest peak-to-trough decline	-96.25%	-49.00%	-47.25%
Max Drawdown (1Y) Largest decline over 1 year	-89.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-96.25%	—	—
Current Drawdown Current decline from peak	-95.70%	-41.76%	-53.94%
Average Drawdown Average peak-to-trough decline	-57.23%	-35.38%	-21.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	75.29%	—	—

Volatility

Volatility by Period

	GLNK	CLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	99.63%	63.64%	+35.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	161.90%	63.64%	+98.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	161.90%	63.64%	+98.26%

GLNK vs. CLNK - Expense Ratio Comparison

GLNK has a 2.50% expense ratio, which is higher than CLNK's 0.34% expense ratio.

Dividends

GLNK vs. CLNK - Dividend Comparison

Neither GLNK nor CLNK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLNK and CLNK in my portfolio?

With a correlation of 0.99, GLNK and CLNK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GLNK or CLNK?

On fees, CLNK is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLNK or CLNK?

CLNK is cheaper with a 0.34% expense ratio, compared with 2.50% for GLNK.

Which ETF pays a higher dividend yield, GLNK or CLNK?

GLNK and CLNK have nearly identical dividend yields, around 0.00%.

What is the main difference between GLNK and CLNK?

GLNK tracks Chainlink (LINK), while CLNK tracks Chainlink (LINK) spot price. They also come from different issuers: Grayscale and Bitwise. Their fees differ too: 2.50% for GLNK and 0.34% for CLNK.