IMST vs. XRP

Last updated Apr 1, 2026

Compare and contrast key facts about Bitwise Funds Trust (IMST) and Bitwise XRP ETF (XRP).

IMST and XRP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMST is an actively managed fund by Bitwise. It was launched on Apr 1, 2025. XRP is an actively managed fund by Bitwise. It was launched on Nov 19, 2025.

Performance

IMST vs. XRP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Funds Trust (IMST) and Bitwise XRP ETF (XRP). The values are adjusted to include any dividend payments, if applicable.

IMST vs. XRP - Yearly Performance Comparison

	2026 (YTD)	2025
IMST Bitwise Funds Trust	-6.63%	-11.00%
XRP Bitwise XRP ETF	-26.75%	-8.64%

Returns By Period

In the year-to-date period, IMST achieves a -6.63% return, which is significantly higher than XRP's -26.75% return.

IMST

• 1D: 2.70%
• 1M: -2.43%
• YTD: -6.63%
• 6M: -52.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XRP

• 1D: 1.76%
• 1M: -0.86%
• YTD: -26.75%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMST vs. XRP - Expense Ratio Comparison

IMST has a 0.99% expense ratio, which is higher than XRP's 0.34% expense ratio.

IMST

Bitwise Funds Trust

XRP

Bitwise XRP ETF

Return for Risk

IMST vs. XRP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Funds Trust (IMST) and Bitwise XRP ETF (XRP). 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

	IMST	XRP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	-0.79	0.00

Correlation

The correlation between IMST and XRP is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IMST vs. XRP - Dividend Comparison

IMST's dividend yield for the trailing twelve months is around 256.65%, while XRP has not paid dividends to shareholders.

	TTM	2025
IMST Bitwise Funds Trust	256.65%	195.93%
XRP Bitwise XRP ETF	0.00%	0.00%

Drawdowns

IMST vs. XRP - Drawdown Comparison

The maximum IMST drawdown since its inception was -69.86%, which is greater than XRP's maximum drawdown of -48.71%. Use the drawdown chart below to compare losses from any high point for IMST and XRP.

Drawdown Indicators

	IMST	XRP	Difference
Max Drawdown Largest peak-to-trough decline	-69.86%	-48.71%	-21.15%
Current Drawdown Current decline from peak	-63.47%	-42.08%	-21.39%
Average Drawdown Average peak-to-trough decline	-31.01%	-24.29%	-6.72%

Volatility

Volatility by Period

	IMST	XRP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	61.92%	87.42%	-25.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.92%	87.42%	-25.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.92%	87.42%	-25.50%