OBTC vs. GFOF

Last updated Jun 6, 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. At a 0.48 correlation, their price movements are largely independent. 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: -5.16%
• 1M: -26.03%
• YTD: -31.16%
• 6M: -29.55%
• 1Y: -32.02%
• 3Y*: 55.06%
• 5Y*: 6.73%
• 10Y*: —

GFOF

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

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

OBTC vs. GFOF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OBTC Osprey Bitcoin Trust	-31.16%	-1.87%	130.89%	277.81%	-67.39%
GFOF Grayscale Future of Finance ETF	0.00%	0.00%	60.08%	145.49%	-68.58%

Correlation

The correlation between OBTC and GFOF is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 3, 2022	0.48

Return for Risk

OBTC vs. GFOF — Risk / Return Rank

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

OBTC

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

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.

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.

	OBTC	GFOF	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	—	—
Sortino ratio: Return per unit of downside risk	-0.89	—	—
Omega ratio: Gain probability vs. loss probability	0.90	—	—
Calmar ratio: Return relative to maximum drawdown	-0.67	—	—
Martin ratio: Return relative to average drawdown	-1.26	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OBTC	GFOF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	—	—

Drawdowns

Drawdown Indicators

	OBTC	GFOF	Difference
Max Drawdown Largest peak-to-trough decline	-94.50%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-48.14%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-48.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-83.76%	—	—
Current Drawdown Current decline from peak	-65.62%	—	—
Average Drawdown Average peak-to-trough decline	-69.62%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	25.40%	—	—

Volatility

Volatility by Period

	OBTC	GFOF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	34.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.58%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.14%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.55%	—	—

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 Funds and Grayscale. Their fees differ too: 0.49% for OBTC and 0.70% for GFOF.