LTCN vs. BITC

Last updated Apr 2, 2026

Compare and contrast key facts about Grayscale Litecoin Trust (LTCN) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC).

LTCN and BITC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LTCN is a passively managed fund by Grayscale that tracks the performance of the CoinDesk Litecoin Price Index. It was launched on Aug 18, 2020. BITC is an actively managed fund by Bitwise. It was launched on Mar 20, 2023.

Performance

LTCN vs. BITC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Litecoin Trust (LTCN) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). The values are adjusted to include any dividend payments, if applicable.

LTCN vs. BITC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LTCN Grayscale Litecoin Trust	-30.17%	-54.37%	-18.79%	276.34%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	-0.39%	-20.46%	97.86%	42.29%

Returns By Period

In the year-to-date period, LTCN achieves a -30.17% return, which is significantly lower than BITC's -0.39% return.

LTCN

• 1D: -0.12%
• 1M: -2.04%
• YTD: -30.17%
• 6M: -56.04%
• 1Y: -40.13%
• 3Y*: 0.21%
• 5Y*: -48.73%
• 10Y*: —

BITC

• 1D: -0.28%
• 1M: -0.12%
• YTD: -0.39%
• 6M: -17.21%
• 1Y: -9.45%
• 3Y*: 30.37%
• 5Y*: —
• 10Y*: —

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

LTCN vs. BITC - Expense Ratio Comparison

LTCN has a 2.50% expense ratio, which is higher than BITC's 0.88% expense ratio.

LTCN

Grayscale Litecoin Trust

BITC

Bitwise Bitcoin Strategy Optimum Roll ETF

Return for Risk

LTCN vs. BITC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LTCN

LTCN Risk / Return Rank: 4
LTCN Sharpe Ratio Rank: 4
LTCN Sortino Ratio Rank: 5
LTCN Omega Ratio Rank: 5
LTCN Calmar Ratio Rank: 3
LTCN Martin Ratio Rank: 3

BITC

BITC Risk / Return Rank: 6
BITC Sharpe Ratio Rank: 6
BITC Sortino Ratio Rank: 6
BITC Omega Ratio Rank: 5
BITC Calmar Ratio Rank: 6
BITC Martin Ratio Rank: 7

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.

LTCN vs. BITC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.

	LTCN	BITC	Difference
Sharpe ratio Return per unit of total volatility	-0.54	-0.36	-0.18
Sortino ratio Return per unit of downside risk	-0.46	-0.33	-0.13
Omega ratio Gain probability vs. loss probability	0.95	0.95	0.00
Calmar ratio Return relative to maximum drawdown	-0.58	-0.36	-0.22
Martin ratio Return relative to average drawdown	-1.09	-0.58	-0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTCN vs. BITC - Sharpe Ratio Comparison

The current LTCN Sharpe Ratio is -0.54, which is lower than the BITC Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of LTCN and BITC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LTCN	BITC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.54	-0.36	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.64	-0.83

Correlation

The correlation between LTCN and BITC is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

LTCN vs. BITC - Dividend Comparison

LTCN has not paid dividends to shareholders, while BITC's dividend yield for the trailing twelve months is around 3.38%.

	TTM	2025	2024	2023
LTCN Grayscale Litecoin Trust	0.00%	0.00%	0.00%	0.00%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.38%	3.36%	42.68%	5.82%

Drawdowns

LTCN vs. BITC - Drawdown Comparison

The maximum LTCN drawdown since its inception was -99.58%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for LTCN and BITC.

Drawdown Indicators

	LTCN	BITC	Difference
Max Drawdown Largest peak-to-trough decline	-99.58%	-38.51%	-61.07%
Max Drawdown (1Y) Largest decline over 1 year	-65.17%	-26.51%	-38.66%
Max Drawdown (5Y) Largest decline over 5 years	-99.53%	—	—
Current Drawdown Current decline from peak	-99.19%	-31.54%	-67.65%
Average Drawdown Average peak-to-trough decline	-89.32%	-15.81%	-73.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.91%	16.53%	+18.38%

Volatility

LTCN vs. BITC - Volatility Comparison

Grayscale Litecoin Trust (LTCN) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) have volatilities of 11.52% and 12.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTCN	BITC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.52%	12.07%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	54.46%	19.16%	+35.30%
Volatility (1Y) Calculated over the trailing 1-year period	75.18%	26.66%	+48.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.22%	47.60%	+65.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.39%	47.60%	+95.79%