GXRP vs. BLOX

Last updated Jun 4, 2026

GXRP (Grayscale XRP Trust ETF) and BLOX (Nicholas Crypto Income ETF) are both Cryptocurrency funds. GXRP is passively managed, while BLOX is actively managed. A 0.74 correlation means they provide meaningful diversification when combined. GXRP charges 0.35%/yr vs 1.03%/yr for BLOX.

Performance

GXRP vs. BLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale XRP Trust ETF (GXRP) and Nicholas Crypto Income ETF (BLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GXRP achieves a -34.34% return, which is significantly lower than BLOX's 16.52% return.

GXRP

• 1D: -1.56%
• 1M: -14.02%
• YTD: -34.34%
• 6M: -45.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLOX

• 1D: -2.56%
• 1M: 10.59%
• YTD: 16.52%
• 6M: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GXRP vs. BLOX - Yearly Performance Comparison

	2026 (YTD)	2025
GXRP Grayscale XRP Trust ETF	-34.34%	-18.76%
BLOX Nicholas Crypto Income ETF	16.52%	-3.69%

Correlation

The correlation between GXRP and BLOX is 0.74, 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	0.74

Return for Risk

GXRP vs. BLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale XRP Trust ETF (GXRP) and Nicholas Crypto Income ETF (BLOX). 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

	GXRP	BLOX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.98	0.54	-1.52

Drawdowns

GXRP vs. BLOX - Drawdown Comparison

The maximum GXRP drawdown since its inception was -48.62%, roughly equal to the maximum BLOX drawdown of -47.09%. Use the drawdown chart below to compare losses from any high point for GXRP and BLOX.

Drawdown Indicators

	GXRP	BLOX	Difference
Max Drawdown Largest peak-to-trough decline	-48.62%	-47.09%	-1.53%
Current Drawdown Current decline from peak	-48.13%	-19.45%	-28.68%
Average Drawdown Average peak-to-trough decline	-30.15%	-18.53%	-11.62%

Volatility

Volatility by Period

	GXRP	BLOX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	71.89%	53.44%	+18.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.89%	53.44%	+18.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.89%	53.44%	+18.45%

GXRP vs. BLOX - Expense Ratio Comparison

GXRP has a 0.35% expense ratio, which is lower than BLOX's 1.03% expense ratio.

Dividends

GXRP vs. BLOX - Dividend Comparison

GXRP has not paid dividends to shareholders, while BLOX's dividend yield for the trailing twelve months is around 36.81%.

Position	TTM	2025
BLOX Nicholas Crypto Income ETF	36.81%	22.69%
GXRP Grayscale XRP Trust ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both GXRP and BLOX in my portfolio?

GXRP and BLOX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GXRP or BLOX?

On fees, GXRP 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, GXRP or BLOX?

GXRP is cheaper with a 0.35% expense ratio, compared with 1.03% for BLOX.

Which ETF pays a higher dividend yield, GXRP or BLOX?

BLOX has the higher dividend yield at 36.81%, compared with 0.00% for GXRP.

What is the main difference between GXRP and BLOX?

They also come from different issuers: Grayscale and Nicholas. Their fees differ too: 0.35% for GXRP and 1.03% for BLOX.