LTCN vs. BITS

Last updated Jun 26, 2026

LTCN (Grayscale Litecoin Trust) and BITS (Global X Blockchain & Bitcoin Strategy ETF) are both Cryptocurrency funds - LTCN tracks the CoinDesk Litecoin Price Index while BITS tracks the NONE. Both are passively managed. Over the past 3 years, LTCN returned -11.17%/yr vs 39.60%/yr for BITS. A 0.63 correlation means they provide meaningful diversification when combined. LTCN charges 2.50%/yr vs 0.65%/yr for BITS.

Performance

LTCN vs. BITS - Performance Comparison

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

Returns By Period

In the year-to-date period, LTCN achieves a -48.59% return, which is significantly lower than BITS's -7.46% return.

LTCN

• 1D: 1.01%
• 1M: -21.36%
• YTD: -48.59%
• 6M: -49.66%
• 1Y: -54.95%
• 3Y*: -11.17%
• 5Y*: -49.53%
• 10Y*: —

BITS

• 1D: -1.72%
• 1M: -16.55%
• YTD: -7.46%
• 6M: -10.76%
• 1Y: 2.07%
• 3Y*: 39.60%
• 5Y*: —
• 10Y*: —

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

LTCN vs. BITS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LTCN Grayscale Litecoin Trust	-48.59%	-54.37%	-18.79%	650.00%	-77.17%	-62.22%
BITS Global X Blockchain & Bitcoin Strategy ETF	-7.46%	14.90%	61.84%	212.23%	-75.46%	-28.96%

Correlation

The correlation between LTCN and BITS is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.63

The correlation between LTCN and BITS has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

Return for Risk

LTCN vs. BITS — Risk / Return Rank

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

LTCN

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

BITS

BITS Risk / Return Rank: 10
BITS Sharpe Ratio Rank: 10
BITS Sortino Ratio Rank: 11
BITS Omega Ratio Rank: 11
BITS Calmar Ratio Rank: 10
BITS Martin Ratio Rank: 9

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. BITS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) and Global X Blockchain & Bitcoin Strategy ETF (BITS). 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.

	LTCN	BITS	Difference
Sharpe ratio: Return per unit of total volatility	-0.79	0.04	-0.82
Sortino ratio: Return per unit of downside risk	-1.13	0.43	-1.56
Omega ratio: Gain probability vs. loss probability	0.87	1.05	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.75	0.04	-0.80
Martin ratio: Return relative to average drawdown	-1.19	0.08	-1.27

LTCN vs. BITS - Sharpe Ratio Comparison

The current LTCN Sharpe Ratio is -0.79, which is lower than the BITS Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of LTCN and BITS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LTCN vs. BITS - Drawdown Comparison

The maximum LTCN drawdown since its inception was -99.58%, which is greater than BITS's maximum drawdown of -83.11%. Use the drawdown chart below to compare losses from any high point for LTCN and BITS.

Drawdown Indicators

	LTCN	BITS	Difference
Max Drawdown Largest peak-to-trough decline	-99.58%	-83.11%	-16.47%
Max Drawdown (1Y) Largest decline over 1 year	-72.99%	-48.38%	-24.61%
Max Drawdown (3Y) Largest decline over 3 years	-93.68%	-48.38%	-45.30%
Max Drawdown (5Y) Largest decline over 5 years	-97.71%	—	—
Current Drawdown Current decline from peak	-99.40%	-39.08%	-60.32%
Average Drawdown Average peak-to-trough decline	-89.67%	-42.62%	-47.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.26%	27.04%	+19.22%

Volatility

LTCN vs. BITS - Volatility Comparison

Grayscale Litecoin Trust (LTCN) has a higher volatility of 16.44% compared to Global X Blockchain & Bitcoin Strategy ETF (BITS) at 15.20%. This indicates that LTCN's price experiences larger fluctuations and is considered to be riskier than BITS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTCN	BITS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.44%	15.20%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	41.27%	40.89%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	70.19%	53.20%	+16.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.87%	60.86%	+44.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	141.51%	60.86%	+80.65%

LTCN vs. BITS - Expense Ratio Comparison

LTCN has a 2.50% expense ratio, which is higher than BITS's 0.65% expense ratio.

Dividends

LTCN vs. BITS - Dividend Comparison

LTCN has not paid dividends to shareholders, while BITS's dividend yield for the trailing twelve months is around 24.63%.

Position	TTM	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	24.63%	22.80%	29.49%	13.69%	0.48%	1.90%
LTCN Grayscale Litecoin Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LTCN and BITS in my portfolio?

LTCN and BITS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTCN or BITS?

LTCN has higher volatility (16.44%) compared to BITS (15.20%). In terms of maximum drawdown, LTCN dropped -99.58% vs BITS's -83.11%.

Which ETF is better, LTCN or BITS?

On 3-year performance, BITS leads with 39.60% vs -11.17% for LTCN. On fees, BITS is cheaper at 0.65% per year. On volatility, BITS has been the lower-risk option at 15.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LTCN or BITS?

Over the 3-year period, BITS has performed better with a 39.60% return vs -11.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LTCN or BITS?

BITS is cheaper with a 0.65% expense ratio, compared with 2.50% for LTCN.

Which ETF pays a higher dividend yield, LTCN or BITS?

BITS has the higher dividend yield at 24.63%, compared with 0.00% for LTCN.

What is the main difference between LTCN and BITS?

LTCN tracks CoinDesk Litecoin Price Index, while BITS tracks NONE. They also come from different issuers: Grayscale and Global X. Their fees differ too: 2.50% for LTCN and 0.65% for BITS.

Which has better risk-adjusted returns?

BITS currently has the higher Sharpe Ratio (0.04 vs -0.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.