ICRC vs. BSOL

Last updated Jul 17, 2026

ICRC (Bitwise CRCL Option Income Strategy ETF) and BSOL (Bitwise Solana Staking ETF) are both exchange-traded funds - ICRC is a Derivative Income fund actively managed by Bitwise, while BSOL is a Cryptocurrency fund tracking the Solana (SOL) spot price. ICRC is actively managed, while BSOL is passively managed. A 0.58 correlation means they provide meaningful diversification when combined. ICRC charges 0.98%/yr vs 0.20%/yr for BSOL.

Performance

ICRC vs. BSOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise CRCL Option Income Strategy ETF (ICRC) and Bitwise Solana Staking ETF (BSOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICRC achieves a -29.17% return, which is significantly higher than BSOL's -37.20% return.

ICRC

• 1D: -5.84%
• 1M: -17.98%
• 6M: -28.19%
• YTD: -29.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BSOL

• 1D: -1.90%
• 1M: 3.00%
• 6M: -44.95%
• YTD: -37.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICRC vs. BSOL - Yearly Performance Comparison

	2026 (YTD)	2025
ICRC Bitwise CRCL Option Income Strategy ETF	-29.17%	-37.20%
BSOL Bitwise Solana Staking ETF	-37.20%	-38.11%

Correlation

The correlation between ICRC and BSOL is 0.58, 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 Oct 28, 2025	0.58

Return for Risk

ICRC vs. BSOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise CRCL Option Income Strategy ETF (ICRC) and Bitwise Solana Staking ETF (BSOL). 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.

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

Drawdowns

ICRC vs. BSOL - Drawdown Comparison

The maximum ICRC drawdown since its inception was -55.87%, smaller than the maximum BSOL drawdown of -67.62%. Use the drawdown chart below to compare losses from any high point for ICRC and BSOL.

Drawdown Indicators

	ICRC	BSOL	Difference
Max Drawdown Largest peak-to-trough decline	-55.87%	-67.62%	+11.75%
Current Drawdown Current decline from peak	-55.87%	-61.13%	+5.26%
Average Drawdown Average peak-to-trough decline	-34.84%	-48.21%	+13.37%

Volatility

Volatility by Period

	ICRC	BSOL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	68.27%	75.33%	-7.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.27%	75.33%	-7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.27%	75.33%	-7.06%

ICRC vs. BSOL - Expense Ratio Comparison

ICRC has a 0.98% expense ratio, which is higher than BSOL's 0.20% expense ratio.

Dividends

ICRC vs. BSOL - Dividend Comparison

ICRC's dividend yield for the trailing twelve months is around 60.19%, while BSOL has not paid dividends to shareholders.

Position	TTM	2025
BSOL Bitwise Solana Staking ETF	0.00%	0.00%
ICRC Bitwise CRCL Option Income Strategy ETF	60.19%	17.79%

Frequently Asked Questions

Can I hold both ICRC and BSOL in my portfolio?

ICRC and BSOL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICRC or BSOL?

On fees, BSOL is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICRC or BSOL?

BSOL is cheaper with a 0.20% expense ratio, compared with 0.98% for ICRC.

Which ETF pays a higher dividend yield, ICRC or BSOL?

ICRC has the higher dividend yield at 60.19%, compared with 0.00% for BSOL.

What is the main difference between ICRC and BSOL?

ICRC is categorized as Derivative Income, while BSOL is Cryptocurrency. Their fees differ too: 0.98% for ICRC and 0.20% for BSOL.