LTCN vs. BITI
Compare and contrast key facts about Grayscale Litecoin Trust (LTCN) and ProShares Shrt Bitcoin ETF (BITI).
LTCN and BITI 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. BITI is a passively managed fund by ProShares that tracks the performance of the Bloomberg Bitcoin Index (-100%). It was launched on Jun 21, 2022. Both LTCN and BITI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
LTCN vs. BITI - Performance Comparison
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LTCN vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LTCN Grayscale Litecoin Trust | -30.17% | -54.37% | -18.79% | 650.00% | -32.26% |
BITI ProShares Shrt Bitcoin ETF | 20.02% | -1.76% | -62.60% | -66.17% | -0.06% |
Returns By Period
In the year-to-date period, LTCN achieves a -30.17% return, which is significantly lower than BITI's 20.02% return.
LTCN
- 1D
- -0.12%
- 1M
- -2.04%
- YTD
- -30.17%
- 6M
- -56.04%
- 1Y
- -40.13%
- 3Y*
- 0.21%
- 5Y*
- -48.73%
- 10Y*
- —
BITI
- 1D
- -0.46%
- 1M
- 0.37%
- YTD
- 20.02%
- 6M
- 56.40%
- 1Y
- 10.94%
- 3Y*
- -34.13%
- 5Y*
- —
- 10Y*
- —
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LTCN vs. BITI - Expense Ratio Comparison
LTCN has a 2.50% expense ratio, which is higher than BITI's 1.03% expense ratio.
Return for Risk
LTCN vs. BITI — Risk / Return Rank
LTCN
BITI
LTCN vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) and ProShares Shrt Bitcoin ETF (BITI). 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 | BITI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.54 | 0.24 | -0.78 |
Sortino ratioReturn per unit of downside risk | -0.46 | 0.66 | -1.13 |
Omega ratioGain probability vs. loss probability | 0.95 | 1.08 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.19 | -0.77 |
Martin ratioReturn relative to average drawdown | -1.09 | 0.29 | -1.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LTCN | BITI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 0.24 | -0.78 |
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 | -0.75 | +0.56 |
Correlation
The correlation between LTCN and BITI is -0.63. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
LTCN vs. BITI - Dividend Comparison
LTCN has not paid dividends to shareholders, while BITI's dividend yield for the trailing twelve months is around 8.23%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LTCN Grayscale Litecoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BITI ProShares Shrt Bitcoin ETF | 8.23% | 1.60% | 3.91% | 3.33% | 0.06% |
Drawdowns
LTCN vs. BITI - Drawdown Comparison
The maximum LTCN drawdown since its inception was -99.58%, which is greater than BITI's maximum drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for LTCN and BITI.
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Drawdown Indicators
| LTCN | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.58% | -92.16% | -7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -65.17% | -39.64% | -25.53% |
Max Drawdown (5Y)Largest decline over 5 years | -99.53% | — | — |
Current DrawdownCurrent decline from peak | -99.19% | -86.90% | -12.29% |
Average DrawdownAverage peak-to-trough decline | -89.32% | -67.03% | -22.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.91% | 25.26% | +9.65% |
Volatility
LTCN vs. BITI - Volatility Comparison
The current volatility for Grayscale Litecoin Trust (LTCN) is 11.52%, while ProShares Shrt Bitcoin ETF (BITI) has a volatility of 13.04%. This indicates that LTCN experiences smaller price fluctuations and is considered to be less risky than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTCN | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.52% | 13.04% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 54.46% | 36.32% | +18.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.18% | 45.20% | +29.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.22% | 53.18% | +60.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 143.39% | 53.18% | +90.21% |