GLNK vs. CLNK

Last updated Jun 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. With a 0.99 correlation, they move nearly in lockstep. 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: -3.84%
• 1M: -12.83%
• YTD: -33.27%
• 6M: -43.25%
• 1Y: -59.50%
• 3Y*: -10.96%
• 5Y*: —
• 10Y*: —

CLNK

• 1D: -4.18%
• 1M: -12.86%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLNK vs. CLNK - Yearly Performance Comparison

	2026 (YTD)
GLNK Grayscale Chainlink Trust ETF	-42.67%
CLNK Bitwise Chainlink ETF	-41.92%

Correlation

The correlation between GLNK and CLNK is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 15, 2026	1.00

Return for Risk

GLNK vs. CLNK — Risk / Return Rank

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

GLNK

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

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. 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.

	GLNK	CLNK	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	—	—
Sortino ratio: Return per unit of downside risk	-0.42	—	—
Omega ratio: Gain probability vs. loss probability	0.95	—	—
Calmar ratio: Return relative to maximum drawdown	-0.68	—	—
Martin ratio: Return relative to average drawdown	-0.89	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GLNK	CLNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-1.14	+1.12

Drawdowns

GLNK vs. CLNK - Drawdown Comparison

The maximum GLNK drawdown since its inception was -95.82%, which is greater than CLNK's maximum drawdown of -43.56%. 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	-95.82%	-43.56%	-52.26%
Max Drawdown (1Y) Largest decline over 1 year	-88.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-95.82%	—	—
Current Drawdown Current decline from peak	-95.71%	-41.92%	-53.79%
Average Drawdown Average peak-to-trough decline	-55.70%	-32.34%	-23.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	66.68%	—	—

Volatility

Volatility by Period

	GLNK	CLNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	46.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	109.57%	67.16%	+42.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.87%	67.16%	+97.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.87%	67.16%	+97.71%

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.