TTOP vs. BITB

Last updated Jul 11, 2026

TTOP (21Shares FTSE Crypto 10 Index ETF) and BITB (Bitwise Bitcoin ETF) are both Cryptocurrency funds - TTOP tracks the FTSE Crypto 10 Select Index while BITB tracks the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. With a 0.99 correlation, they move nearly in lockstep. TTOP charges 0.50%/yr vs 0.20%/yr for BITB.

Performance

TTOP vs. BITB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 21Shares FTSE Crypto 10 Index ETF (TTOP) and Bitwise Bitcoin ETF (BITB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TTOP achieves a -29.59% return, which is significantly lower than BITB's -27.04% return.

TTOP

• 1D: 1.18%
• 1M: 1.26%
• 6M: -32.24%
• YTD: -29.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BITB

• 1D: 1.14%
• 1M: 0.52%
• 6M: -29.18%
• YTD: -27.04%
• 1Y: -46.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TTOP vs. BITB - Yearly Performance Comparison

	2026 (YTD)	2025
TTOP 21Shares FTSE Crypto 10 Index ETF	-29.59%	-14.90%
BITB Bitwise Bitcoin ETF	-27.04%	-13.84%

Correlation

The correlation between TTOP and BITB is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025	0.99

Return for Risk

TTOP vs. BITB — Risk / Return Rank

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

TTOP

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

BITB

BITB Risk / Return Rank: 2
BITB Sharpe Ratio Rank: 1
BITB Sortino Ratio Rank: 2
BITB Omega Ratio Rank: 2
BITB Calmar Ratio Rank: 2
BITB Martin Ratio Rank: 2

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.

TTOP vs. BITB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 21Shares FTSE Crypto 10 Index ETF (TTOP) and Bitwise Bitcoin ETF (BITB). 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.

	TTOP	BITB	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.99	—
Sortino ratio: Return per unit of downside risk	—	-1.45	—
Omega ratio: Gain probability vs. loss probability	—	0.84	—
Calmar ratio: Return relative to maximum drawdown	—	-0.82	—
Martin ratio: Return relative to average drawdown	—	-1.35	—

Drawdowns

TTOP vs. BITB - Drawdown Comparison

The maximum TTOP drawdown since its inception was -44.86%, smaller than the maximum BITB drawdown of -53.33%. Use the drawdown chart below to compare losses from any high point for TTOP and BITB.

Drawdown Indicators

	TTOP	BITB	Difference
Max Drawdown Largest peak-to-trough decline	-44.86%	-53.33%	+8.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-53.33%	—
Current Drawdown Current decline from peak	-40.08%	-49.17%	+9.09%
Average Drawdown Average peak-to-trough decline	-26.54%	-17.51%	-9.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	32.54%	—

Volatility

Volatility by Period

	TTOP	BITB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	51.51%	44.38%	+7.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.51%	49.77%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.51%	49.77%	+1.74%

TTOP vs. BITB - Expense Ratio Comparison

TTOP has a 0.50% expense ratio, which is higher than BITB's 0.20% expense ratio.

Dividends

TTOP vs. BITB - Dividend Comparison

Neither TTOP nor BITB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TTOP and BITB in my portfolio?

With a correlation of 0.99, TTOP and BITB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TTOP or BITB?

On fees, BITB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TTOP or BITB?

BITB is cheaper with a 0.20% expense ratio, compared with 0.50% for TTOP.

Which ETF pays a higher dividend yield, TTOP or BITB?

TTOP and BITB have nearly identical dividend yields, around 0.00%.

What is the main difference between TTOP and BITB?

TTOP tracks FTSE Crypto 10 Select Index, while BITB tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: 21Shares and Bitwise Asset Management. Their fees differ too: 0.50% for TTOP and 0.20% for BITB.