GSOL vs. GBTC

Last updated Jun 4, 2026

GSOL (Grayscale Solana Staking ETF) and GBTC (Grayscale Bitcoin Trust ETF) are both Cryptocurrency funds from Grayscale. GSOL is actively managed, while GBTC is passively managed. With a 1.00 correlation, they move nearly in lockstep. GSOL charges 0.35%/yr vs 1.50%/yr for GBTC.

Performance

GSOL vs. GBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Solana Staking ETF (GSOL) and Grayscale Bitcoin Trust ETF (GBTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GSOL

• 1D: -4.43%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GBTC

• 1D: -2.74%
• 1M: -18.48%
• YTD: -25.79%
• 6M: -30.25%
• 1Y: -39.46%
• 3Y*: 52.23%
• 5Y*: 10.42%
• 10Y*: 50.46%

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

GSOL vs. GBTC - Yearly Performance Comparison

	2026 (YTD)
GSOL Grayscale Solana Staking ETF	-12.36%
GBTC Grayscale Bitcoin Trust ETF	-10.91%

Correlation

The correlation between GSOL and GBTC is 1.00 - 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 May 29, 2026	1.00

Return for Risk

GSOL vs. GBTC — Risk / Return Rank

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

GBTC

GBTC Risk / Return Rank: 8
GBTC Sharpe Ratio Rank: 6
GBTC Sortino Ratio Rank: 8
GBTC Omega Ratio Rank: 10
GBTC Calmar Ratio Rank: 10
GBTC 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.

GSOL vs. GBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Solana Staking ETF (GSOL) and Grayscale Bitcoin Trust ETF (GBTC). 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.

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

Sharpe Ratios by Period

	GSOL	GBTC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.91	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	-2.23	0.66	-2.89

Drawdowns

GSOL vs. GBTC - Drawdown Comparison

The maximum GSOL drawdown since its inception was -12.36%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for GSOL and GBTC.

Drawdown Indicators

	GSOL	GBTC	Difference
Max Drawdown Largest peak-to-trough decline	-12.36%	-89.91%	+77.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-49.55%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-49.55%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-85.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.91%	—
Current Drawdown Current decline from peak	-12.36%	-48.46%	+36.10%
Average Drawdown Average peak-to-trough decline	-5.53%	-43.43%	+37.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.63%	—

Volatility

Volatility by Period

	GSOL	GBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	51.66%	43.66%	+8.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.66%	62.45%	-10.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.66%	82.21%	-30.55%

GSOL vs. GBTC - Expense Ratio Comparison

GSOL has a 0.35% expense ratio, which is lower than GBTC's 1.50% expense ratio.

Dividends

GSOL vs. GBTC - Dividend Comparison

Neither GSOL nor GBTC has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GBTC Grayscale Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.61%
GSOL Grayscale Solana Staking ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSOL and GBTC in my portfolio?

With a correlation of 1.00, GSOL and GBTC 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, GSOL or GBTC?

On fees, GSOL is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSOL or GBTC?

GSOL is cheaper with a 0.35% expense ratio, compared with 1.50% for GBTC.

Which ETF pays a higher dividend yield, GSOL or GBTC?

GSOL and GBTC have nearly identical dividend yields, around 0.00%.

What is the main difference between GSOL and GBTC?

Their fees differ too: 0.35% for GSOL and 1.50% for GBTC.