GSUI vs. GBTC

Last updated Jun 4, 2026

GSUI (Grayscale Sui Staking ETF) and GBTC (Grayscale Bitcoin Trust ETF) are both Cryptocurrency funds from Grayscale - GSUI tracks the CoinDesk SUI Reference Rate while GBTC tracks the CoinDesk Bitcoin Benchmark Rate Index. Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. GSUI charges 0.00%/yr vs 1.50%/yr for GBTC.

Performance

GSUI vs. GBTC - Performance Comparison

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

Returns By Period

In the year-to-date period, GSUI achieves a -39.93% return, which is significantly lower than GBTC's -25.79% return.

GSUI

• 1D: -1.09%
• 1M: -12.82%
• YTD: -39.93%
• 6M: -46.50%
• 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)

GSUI vs. GBTC - Yearly Performance Comparison

	2026 (YTD)	2025
GSUI Grayscale Sui Staking ETF	-39.93%	-34.63%
GBTC Grayscale Bitcoin Trust ETF	-25.79%	-1.96%

Correlation

The correlation between GSUI and GBTC is 0.61, 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 Nov 25, 2025	0.61

Return for Risk

GSUI 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.

GSUI vs. GBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Sui Staking ETF (GSUI) 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

	GSUI	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	-0.78	0.66	-1.44

Drawdowns

GSUI vs. GBTC - Drawdown Comparison

The maximum GSUI drawdown since its inception was -60.73%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for GSUI and GBTC.

Drawdown Indicators

	GSUI	GBTC	Difference
Max Drawdown Largest peak-to-trough decline	-60.73%	-89.91%	+29.18%
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	-60.73%	-48.46%	-12.27%
Average Drawdown Average peak-to-trough decline	-43.81%	-43.43%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	28.63%	—

Volatility

Volatility by Period

	GSUI	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	107.79%	43.66%	+64.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.79%	62.45%	+45.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.79%	82.21%	+25.58%

GSUI vs. GBTC - Expense Ratio Comparison

GSUI has a 0.00% expense ratio, which is lower than GBTC's 1.50% expense ratio.

Dividends

GSUI vs. GBTC - Dividend Comparison

Neither GSUI 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%
GSUI Grayscale Sui 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 GSUI and GBTC in my portfolio?

GSUI and GBTC have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GSUI or GBTC?

On fees, GSUI is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GSUI or GBTC?

GSUI is cheaper with a 0.00% expense ratio, compared with 1.50% for GBTC.

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

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

What is the main difference between GSUI and GBTC?

GSUI tracks CoinDesk SUI Reference Rate, while GBTC tracks CoinDesk Bitcoin Benchmark Rate Index. Their fees differ too: 0.00% for GSUI and 1.50% for GBTC.