TSOL vs. MSBT

Last updated Jun 23, 2026

TSOL (21Shares Solana ETF) and MSBT (Morgan Stanley Bitcoin Trust) are both Cryptocurrency funds. TSOL is actively managed, while MSBT is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. TSOL charges 0.21%/yr vs 0.14%/yr for MSBT.

Performance

TSOL vs. MSBT - Performance Comparison

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

Returns By Period

TSOL

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

MSBT

• 1D: 2.44%
• 1M: -14.96%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSOL vs. MSBT - Yearly Performance Comparison

	2026 (YTD)
TSOL 21Shares Solana ETF	-10.56%
MSBT Morgan Stanley Bitcoin Trust	-11.15%

Correlation

The correlation between TSOL and MSBT is 0.82, 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 Apr 8, 2026	0.82

Return for Risk

TSOL vs. MSBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares Solana ETF (TSOL) and Morgan Stanley Bitcoin Trust (MSBT). 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.

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

Drawdowns

TSOL vs. MSBT - Drawdown Comparison

The maximum TSOL drawdown since its inception was -56.62%, which is greater than MSBT's maximum drawdown of -26.46%. Use the drawdown chart below to compare losses from any high point for TSOL and MSBT.

Drawdown Indicators

	TSOL	MSBT	Difference
Max Drawdown Largest peak-to-trough decline	-56.62%	-26.46%	-30.16%
Current Drawdown Current decline from peak	-50.26%	-21.40%	-28.86%
Average Drawdown Average peak-to-trough decline	-31.13%	-8.18%	-22.95%

Volatility

Volatility by Period

	TSOL	MSBT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	73.03%	36.79%	+36.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.03%	36.79%	+36.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.03%	36.79%	+36.24%

TSOL vs. MSBT - Expense Ratio Comparison

TSOL has a 0.21% expense ratio, which is higher than MSBT's 0.14% 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. MSBT - Dividend Comparison

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

Position	TTM
MSBT Morgan Stanley Bitcoin Trust	0.00%
TSOL 21Shares Solana ETF	4.73%

Frequently Asked Questions

Can I hold both TSOL and MSBT in my portfolio?

TSOL and MSBT have a correlation of 0.82, 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 MSBT?

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, TSOL or MSBT?

MSBT is cheaper with a 0.14% expense ratio, compared with 0.21% for TSOL.

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

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

What is the main difference between TSOL and MSBT?

They also come from different issuers: 21Shares and Morgan Stanley. Their fees differ too: 0.21% for TSOL and 0.14% for MSBT.