OBTC vs. GFOF

Last updated Aug 5, 2026

OBTC (Osprey Bitcoin Trust) and GFOF (Grayscale Future of Finance ETF) are both exchange-traded funds - OBTC is a Cryptocurrency fund tracking the Bitcoin (BTC), while GFOF is a Blockchain fund tracking the Bloomberg Grayscale Future of Finance Index. Both are passively managed. Their 0.48 correlation means their historical movements had little consistent relationship. OBTC charges 0.49%/yr vs 0.70%/yr for GFOF.

Performance

OBTC vs. GFOF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Osprey Bitcoin Trust (OBTC) and Grayscale Future of Finance ETF (GFOF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

OBTC

• 1D: 0.95%
• 1M: 4.80%
• 6M: -16.02%
• YTD: -26.66%
• 1Y: -36.66%
• 3Y*: 42.55%
• 5Y*: 5.44%
• 10Y*: —
• ALL TIME*: -6.65%

GFOF

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OBTC Osprey Bitcoin Trust	$131.03K	$187.41K	$211.76K

OBTC vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OBTC Osprey Bitcoin Trust	-26.66%	-1.87%	130.89%	277.81%	-68.67%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-69.18%

Correlation

The correlation between OBTC and GFOF is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.48

Return for Risk

OBTC vs. GFOF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OBTC

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

GFOF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OBTC vs. GFOF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osprey Bitcoin Trust (OBTC) and Grayscale Future of Finance ETF (GFOF). 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.

	OBTC	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-0.82	—	—
Sortino ratio: Return per unit of downside risk	-1.10	—	—
Omega ratio: Gain probability vs. loss probability	0.88	—	—
Calmar ratio: Return relative to maximum drawdown	-0.74	—	—
Martin ratio: Return relative to average drawdown	-1.18	—	—

Drawdowns

Drawdown Indicators

	OBTC	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-94.50%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-49.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-49.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-83.76%	—	—
Current Drawdown Current decline from peak	-63.37%	—	—
Average Drawdown Average peak-to-trough decline	-69.41%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	31.21%	—	—

Volatility

Volatility by Period

	OBTC	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.92%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.36%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.18%	—	—

OBTC vs. GFOF - Expense Ratio Comparison

OBTC has a 0.49% expense ratio, which is lower than GFOF's 0.70% expense ratio.

Dividends

OBTC vs. GFOF - Dividend Comparison

Neither OBTC nor GFOF has paid dividends to shareholders.

Position	TTM	2025	2024	2023
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	2.55%	4.08%
OBTC Osprey Bitcoin Trust	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OBTC and GFOF in my portfolio?

OBTC and GFOF have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OBTC or GFOF?

On fees, OBTC is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OBTC or GFOF?

OBTC is cheaper with a 0.49% expense ratio, compared with 0.70% for GFOF.

Which ETF pays a higher dividend yield, OBTC or GFOF?

OBTC and GFOF have nearly identical dividend yields, around 0.00%.

What is the main difference between OBTC and GFOF?

OBTC is categorized as Cryptocurrency, while GFOF is Blockchain. OBTC tracks Bitcoin (BTC), while GFOF tracks Bloomberg Grayscale Future of Finance Index. They also come from different issuers: Osprey and Grayscale. Their fees differ too: 0.49% for OBTC and 0.70% for GFOF.