XRPI vs. BITC

Last updated Aug 4, 2026

XRPI (Volatility Shares XRP ETF) and BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) are both Cryptocurrency funds. Both are actively managed. Over the past year, XRPI returned -68.03% vs -24.51% for BITC. Their 0.49 correlation means their historical movements had little consistent relationship. XRPI charges 0.94%/yr vs 0.88%/yr for BITC.

Performance

XRPI vs. BITC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares XRP ETF (XRPI) 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, XRPI achieves a -43.35% return, which is significantly lower than BITC's -1.71% return.

XRPI

• 1D: 1.55%
• 1M: -0.82%
• 6M: -35.55%
• YTD: -43.35%
• 1Y: -68.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -55.27%

BITC

• 1D: 0.05%
• 1M: -1.27%
• 6M: -1.08%
• YTD: -1.71%
• 1Y: -24.51%
• 3Y*: 30.36%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.48%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	$41.31K	$64.49K	$87.54K
XRPI Volatility Shares XRP ETF	$679.08K	$651.64K	$1.15M

XRPI vs. BITC - Yearly Performance Comparison

	2026 (YTD)	2025
XRPI Volatility Shares XRP ETF	-43.35%	-32.74%
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	-1.71%	-24.02%

Correlation

The correlation between XRPI and BITC is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since May 22, 2025	0.49

Return for Risk

XRPI vs. BITC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XRPI

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

BITC

BITC Risk / Return Rank: 2
BITC Sharpe Ratio Rank: 2
BITC Sortino Ratio Rank: 2
BITC Omega Ratio Rank: 1
BITC Calmar Ratio Rank: 2
BITC Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XRPI vs. BITC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares XRP ETF (XRPI) 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.

	XRPI	BITC	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	-0.98	+0.04
Sortino ratio: Return per unit of downside risk	-1.77	-1.32	-0.45
Omega ratio: Gain probability vs. loss probability	0.81	0.80	0.00
Calmar ratio: Return relative to maximum drawdown	-0.94	-0.88	-0.06
Martin ratio: Return relative to average drawdown	-1.33	-1.18	-0.15

XRPI vs. BITC - Sharpe Ratio Comparison

The current XRPI Sharpe Ratio is -0.94, which is comparable to the BITC Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of XRPI 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

XRPI vs. BITC - Drawdown Comparison

The maximum XRPI drawdown since its inception was -74.60%, which is greater than BITC's maximum drawdown of -38.51%. Use the drawdown chart below to compare losses from any high point for XRPI and BITC.

Drawdown Indicators

	XRPI	BITC	Difference
Max Drawdown Largest peak-to-trough decline	-74.60%	-38.51%	-36.09%
Max Drawdown (1Y) Largest decline over 1 year	-72.38%	-27.89%	-44.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-38.51%	—
Current Drawdown Current decline from peak	-73.56%	-32.45%	-41.11%
Average Drawdown Average peak-to-trough decline	-44.17%	-17.00%	-27.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.24%	20.79%	+30.45%

Volatility

XRPI vs. BITC - Volatility Comparison

Volatility Shares XRP ETF (XRPI) has a higher volatility of 11.94% compared to Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) at 8.07%. This indicates that XRPI'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

	XRPI	BITC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.94%	8.07%	+3.87%
Volatility (6M) Calculated over the trailing 6-month period	49.19%	18.32%	+30.87%
Volatility (1Y) Calculated over the trailing 1-year period	72.38%	25.16%	+47.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.14%	45.78%	+27.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.14%	45.78%	+27.36%

XRPI vs. BITC - Expense Ratio Comparison

XRPI has a 0.94% expense ratio, which is higher than BITC's 0.88% expense ratio.

Dividends

XRPI vs. BITC - Dividend Comparison

XRPI's dividend yield for the trailing twelve months is around 4.15%, more than BITC's 3.42% yield.

Position	TTM	2025	2024	2023
BITC Bitwise Bitcoin Strategy Optimum Roll ETF	3.42%	3.36%	42.68%	5.82%
XRPI Volatility Shares XRP ETF	4.15%	1.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XRPI and BITC in my portfolio?

XRPI 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, XRPI or BITC?

XRPI has higher volatility (11.94%) compared to BITC (8.07%). In terms of maximum drawdown, XRPI dropped -74.60% vs BITC's -38.51%.

Which ETF is better, XRPI or BITC?

On 1-year performance, BITC leads with -24.51% vs -68.03% for XRPI. On fees, BITC is cheaper at 0.88% per year. On volatility, BITC has been the lower-risk option at 8.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XRPI or BITC?

Over the 1-year period, BITC has performed better with a -24.51% return vs -68.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XRPI or BITC?

BITC is cheaper with a 0.88% expense ratio, compared with 0.94% for XRPI.

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

XRPI has the higher dividend yield at 4.15%, compared with 3.42% for BITC.

What is the main difference between XRPI and BITC?

They also come from different issuers: Volatility Shares and Bitwise. Their fees differ too: 0.94% for XRPI and 0.88% for BITC.

Which has better risk-adjusted returns?

XRPI currently has the higher Sharpe Ratio (-0.94 vs -0.98), 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.