TETH vs. BITC

Last updated Jul 21, 2026

TETH (21Shares Ethereum ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, TETH returned -46.49% vs -22.40% for BITC. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

TETH vs. BITC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Ethereum ETF (TETH) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TETH achieves a -35.88% return, which is significantly lower than BITC's 1.83% return.

TETH

• 1D: 3.04%
• 1M: 11.40%
• 6M: -42.16%
• YTD: -35.88%
• 1Y: -46.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.89%

BITC

• 1D: 1.47%
• 1M: -4.92%
• 6M: -3.85%
• YTD: 1.83%
• 1Y: -22.40%
• 3Y*: 30.37%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.18%

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

TETH vs. BITC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TETH 21Shares Ethereum ETF	-35.88%	-11.20%	-5.86%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	1.83%	-20.46%	34.26%

Correlation

The correlation between TETH and BITC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.54

The correlation between TETH and BITC has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.

Return for Risk

TETH vs. BITC — Risk / Return Rank

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

TETH

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

BITC

BITC Risk / Return Rank: 3
BITC Sharpe Ratio Rank: 2
BITC Sortino Ratio Rank: 3
BITC Omega Ratio Rank: 2
BITC Calmar Ratio Rank: 3
BITC Martin Ratio Rank: 4

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.

TETH vs. BITC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Ethereum ETF (TETH) and Bitwise Bitcoin Strategy Optimum Roll ETF (BITC). 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.

	TETH	BITC	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	-0.91	+0.21
Sortino ratio: Return per unit of downside risk	-0.83	-1.20	+0.37
Omega ratio: Gain probability vs. loss probability	0.91	0.82	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.69	-0.81	+0.12
Martin ratio: Return relative to average drawdown	-1.06	-1.11	+0.05

TETH vs. BITC - Sharpe Ratio Comparison

The current TETH Sharpe Ratio is -0.69, which is comparable to the BITC Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of TETH and BITC, 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

TETH vs. BITC - Drawdown Comparison

The maximum TETH drawdown since its inception was -67.74%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for TETH and BITC.

Drawdown Indicators

	TETH	BITC	Difference
Max Drawdown Largest peak-to-trough decline	-67.74%	-38.51%	-29.23%
Max Drawdown (1Y) Largest decline over 1 year	-67.74%	-27.89%	-39.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-38.51%	—
Current Drawdown Current decline from peak	-60.64%	-30.01%	-30.63%
Average Drawdown Average peak-to-trough decline	-34.85%	-16.84%	-18.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.79%	20.17%	+23.62%

Volatility

TETH vs. BITC - Volatility Comparison

21Shares Ethereum ETF (TETH) has a higher volatility of 14.30% compared to Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) at 8.18%. This indicates that TETH's price experiences larger fluctuations and is considered to be riskier than BITC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TETH	BITC	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.30%	8.18%	+6.12%
Volatility (6M) Calculated over the trailing 6-month period	47.10%	18.74%	+28.36%
Volatility (1Y) Calculated over the trailing 1-year period	67.54%	24.87%	+42.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.67%	45.97%	+25.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.67%	45.97%	+25.70%

Dividends

TETH vs. BITC - Dividend Comparison

TETH's dividend yield for the trailing twelve months is around 0.34%, less than BITC's 3.30% yield.

Position	TTM	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.30%	3.36%	42.68%	5.82%
TETH 21Shares Ethereum ETF	0.34%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TETH and BITC in my portfolio?

TETH and BITC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TETH or BITC?

TETH has higher volatility (14.30%) compared to BITC (8.18%). In terms of maximum drawdown, TETH dropped -67.74% vs BITC's -38.51%.

Which ETF is better, TETH or BITC?

On 1-year performance, BITC leads with -22.40% vs -46.49% for TETH. On volatility, BITC has been the lower-risk option at 8.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TETH or BITC?

Over the 1-year period, BITC has performed better with a -22.40% return vs -46.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF pays a higher dividend yield, TETH or BITC?

BITC has the higher dividend yield at 3.30%, compared with 0.34% for TETH.

What is the main difference between TETH and BITC?

They also come from different issuers: 21Shares and Bitwise.

Which has better risk-adjusted returns?

TETH currently has the higher Sharpe Ratio (-0.69 vs -0.91), 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.