KRYP vs. MSBT

Last updated Jun 30, 2026

KRYP (ProShares CoinDesk 20 Crypto ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds - KRYP tracks the CoinDesk 20 Index while MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

KRYP vs. MSBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares CoinDesk 20 Crypto ETF (KRYP) and Morgan Stanley Bitcoin Trust (MSBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KRYP

• 1D: 1.58%
• 1M: -17.92%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSBT

• 1D: 1.05%
• 1M: -17.85%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KRYP vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
KRYP ProShares CoinDesk 20 Crypto ETF	-17.22%
MSBT Morgan Stanley Bitcoin Trust	-16.83%

Correlation

The correlation between KRYP and MSBT is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.87

Return for Risk

KRYP vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares CoinDesk 20 Crypto ETF (KRYP) and Morgan Stanley Bitcoin Trust (MSBT). 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

KRYP vs. MSBT - Drawdown Comparison

The maximum KRYP drawdown since its inception was -30.90%, which is greater than MSBT's maximum drawdown of -27.86%. Use the drawdown chart below to compare losses from any high point for KRYP and MSBT.

Drawdown Indicators

	KRYP	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-30.90%	-27.86%	-3.04%
Current Drawdown Current decline from peak	-28.15%	-26.41%	-1.74%
Average Drawdown Average peak-to-trough decline	-11.52%	-9.79%	-1.73%

Volatility

Volatility by Period

	KRYP	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	50.05%	36.81%	+13.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.05%	36.81%	+13.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.05%	36.81%	+13.24%

Dividends

KRYP vs. MSBT - Dividend Comparison

KRYP's dividend yield for the trailing twelve months is around 0.08%, while MSBT has not paid dividends to shareholders.

Position	TTM
KRYP ProShares CoinDesk 20 Crypto ETF	0.08%
MSBT Morgan Stanley Bitcoin Trust	0.00%

Frequently Asked Questions

Can I hold both KRYP and MSBT in my portfolio?

KRYP and MSBT have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, KRYP or MSBT?

KRYP has the higher dividend yield at 0.08%, compared with 0.00% for MSBT.

What is the main difference between KRYP and MSBT?

KRYP tracks CoinDesk 20 Index, while MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate. They also come from different issuers: ProShares and Morgan Stanley.