MSBT vs. BLKC

Last updated Jun 4, 2026

MSBT (Morgan Stanley Bitcoin Trust) and BLKC (Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF) are both Cryptocurrency funds - MSBT tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate while BLKC tracks the Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index. Both are passively managed. MSBT charges 0.14%/yr vs 0.60%/yr for BLKC.

Performance

MSBT vs. BLKC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Bitcoin Trust (MSBT) and Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSBT

• 1D: -2.70%
• 1M: -18.41%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BLKC

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSBT vs. BLKC - Yearly Performance Comparison

	2026 (YTD)
MSBT Morgan Stanley Bitcoin Trust	-8.40%
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF	0.00%

Return for Risk

MSBT vs. BLKC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Bitcoin Trust (MSBT) and Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC). 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

	MSBT	BLKC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.33	—	—

Drawdowns

Drawdown Indicators

	MSBT	BLKC	Difference
Max Drawdown Largest peak-to-trough decline	-20.25%	—	—
Current Drawdown Current decline from peak	-20.25%	—	—
Average Drawdown Average peak-to-trough decline	-3.91%	—	—

Volatility

Volatility by Period

	MSBT	BLKC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	32.92%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.92%	—	—

MSBT vs. BLKC - Expense Ratio Comparison

MSBT has a 0.14% expense ratio, which is lower than BLKC's 0.60% expense ratio.

Dividends

MSBT vs. BLKC - Dividend Comparison

MSBT has not paid dividends to shareholders, while BLKC's dividend yield for the trailing twelve months is around 4.39%.

Position	TTM	2025	2024	2023	2022	2021
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF	4.39%	7.72%	19.66%	1.92%	5.40%	0.51%
MSBT Morgan Stanley Bitcoin Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, MSBT or BLKC?

On fees, MSBT is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSBT or BLKC?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.60% for BLKC.

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

BLKC has the higher dividend yield at 4.39%, compared with 0.00% for MSBT.

What is the main difference between MSBT and BLKC?

MSBT tracks CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, while BLKC tracks Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts and ETPs Index. They also come from different issuers: Morgan Stanley and Invesco. Their fees differ too: 0.14% for MSBT and 0.60% for BLKC.