TSOL vs. BTC

Last updated Jun 23, 2026

TSOL (21Shares Solana ETF) and BTC (Grayscale Bitcoin Mini Trust ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. TSOL charges 0.21%/yr vs 0.15%/yr for BTC.

Performance

TSOL vs. BTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares Solana ETF (TSOL) and Grayscale Bitcoin Mini Trust ETF (BTC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSOL achieves a -40.91% return, which is significantly lower than BTC's -26.47% return.

TSOL

• 1D: 4.77%
• 1M: -14.06%
• YTD: -40.91%
• 6M: -40.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTC

• 1D: 2.30%
• 1M: -15.06%
• YTD: -26.47%
• 6M: -27.12%
• 1Y: -37.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSOL vs. BTC - Yearly Performance Comparison

	2026 (YTD)	2025
TSOL 21Shares Solana ETF	-40.91%	-8.21%
BTC Grayscale Bitcoin Mini Trust ETF	-26.47%	-5.70%

Correlation

The correlation between TSOL and BTC is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.89

Return for Risk

TSOL vs. BTC — Risk / Return Rank

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

TSOL

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

BTC

BTC Risk / Return Rank: 3
BTC Sharpe Ratio Rank: 2
BTC Sortino Ratio Rank: 2
BTC Omega Ratio Rank: 3
BTC Calmar Ratio Rank: 3
BTC 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.

TSOL vs. BTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Solana ETF (TSOL) and Grayscale Bitcoin Mini Trust ETF (BTC). 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.

	TSOL	BTC	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.86	—
Sortino ratio: Return per unit of downside risk	—	-1.16	—
Omega ratio: Gain probability vs. loss probability	—	0.87	—
Calmar ratio: Return relative to maximum drawdown	—	-0.73	—
Martin ratio: Return relative to average drawdown	—	-1.24	—

Drawdowns

TSOL vs. BTC - Drawdown Comparison

The maximum TSOL drawdown since its inception was -56.62%, which is greater than BTC's maximum drawdown of -51.97%. Use the drawdown chart below to compare losses from any high point for TSOL and BTC.

Drawdown Indicators

	TSOL	BTC	Difference
Max Drawdown Largest peak-to-trough decline	-56.62%	-51.97%	-4.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-51.97%	—
Current Drawdown Current decline from peak	-50.26%	-48.75%	-1.51%
Average Drawdown Average peak-to-trough decline	-31.13%	-17.59%	-13.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.36%	—

Volatility

Volatility by Period

	TSOL	BTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	73.03%	44.21%	+28.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.03%	48.25%	+24.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.03%	48.25%	+24.78%

TSOL vs. BTC - Expense Ratio Comparison

TSOL has a 0.21% expense ratio, which is higher than BTC's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TSOL vs. BTC - Dividend Comparison

TSOL's dividend yield for the trailing twelve months is around 4.73%, while BTC has not paid dividends to shareholders.

Position	TTM
BTC Grayscale Bitcoin Mini Trust ETF	0.00%
TSOL 21Shares Solana ETF	4.73%

Frequently Asked Questions

Can I hold both TSOL and BTC in my portfolio?

TSOL and BTC have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSOL or BTC?

On fees, BTC is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSOL or BTC?

BTC is cheaper with a 0.15% expense ratio, compared with 0.21% for TSOL.

Which ETF pays a higher dividend yield, TSOL or BTC?

TSOL has the higher dividend yield at 4.73%, compared with 0.00% for BTC.

What is the main difference between TSOL and BTC?

They also come from different issuers: 21Shares and Grayscale. Their fees differ too: 0.21% for TSOL and 0.15% for BTC.