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BITW vs GDLC

Bitwise 10 Crypto Index ETF

BITWBNYSE Arca

Grayscale CoinDesk Crypto 5 ETF

GDLCANYSE Arca

Overlap

Expense ratio

GDLC −0.16pt a year

BITW0.75%GDLC0.59%

Avg volume · 30D

GDLC 1.1×the volume

BITW31.6KGDLC35.8K

5Y return · a year

GDLC +0.8pt

BITW−0.7%GDLC+0.1%

BITW vs GDLC Performance

Oct 29, 2021 – Oct 30, 2026

−3.2%BITW+0.7%GDLC

Oct 29, 2021 to Oct 30, 2026. BITW −3.2%. GDLC +0.7%. Use the arrow keys to read each point.−75%−50%25%50%75%Oct 2021Apr 2024Oct 2026
Expense ratio
BITW 0.75%
GDLC 0.59%, better
Fund size
BITW $663M
GDLC $390M
1Y total return
BITW −34.1%, better
GDLC −34.9%
Holdings
BITW 10
GDLC 5
Avg volume (30D)
BITW 31.6K sh
GDLC 35.8K sh, better
NAV per share
BITW $51.89
GDLC $34.58
52W range

ETF.net Grade

BITW: Cost 44, Risk 32, Mission 100, Tradability 73, Holdings 54, Durability 80. GDLC: Cost 58, Risk 35, Mission 100, Tradability 83, Holdings not scored, Durability 75.
Pillar letters and Scores for BITW, GDLC, with each pillar’s weight
PillarBITWGDLC
Cost30% weightC44B58Higher
Mission25% weightA100A100
Risk15% weightD32D35Higher
Tradability15% weightA73A83Higher
Holdings10% weightC54Not scored
Durability5% weightA80HigherA75

Rank among Spot Crypto Basket funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BITW and GDLC are both graded against the same 10 Spot Crypto Basket funds, so their Grades compare head to head.

Spot Crypto Basket⁠

Category · 10 funds
See all 10 ›

GDLC ranks 2nd and BITW 4th of 10 funds in the Spot Crypto Basket Category.

  1. Rank 1AEZPZFranklin Crypto Index ETFScore 76
  2. Rank 2AGDLCGrayscale CoinDesk Crypto 5 ETFScore 71
  3. Rank 2ANCIQHashdex Nasdaq Crypto Index US ETFScore 71
  4. Rank 4BBITWBitwise 10 Crypto Index ETFScore 63
  5. Rank 5BVAVXVanEck Avalanche ETFScore 62

Our read on each fund

ETF.net Research

BITWBBitwise 10 Crypto Index ETF

GDLCAGrayscale CoinDesk Crypto 5 ETF

In short

BITW Crypto's original index fund. Live since 2017, first as a private placement and now as an ETF, it holds the ten largest crypto assets and rebalances monthly. That long history carries a 0.75% fee.

GDLC One ticker, five large liquid coins, market-cap weighted by the CoinDesk 5 Index. Grayscale's 2018-vintage basket predates the spot-crypto ETF crowd, and its fee now sits right at the middle of that pack.

Stated mandate

BITW The fund seeks to invest in a broad portfolio of crypto assets that tracks the Bitwise 10 Large Cap Crypto Index, with monthly rebalancing to reflect index changes.

GDLC The fund provides exposure to the market-cap-weighted performance of five large, liquid crypto assets, offering diversified access to the cryptocurrency market.

Why people hold it

  • BITW Longevity is the edge: operations began in November 2017, one of the longest continuous records among multi-coin crypto baskets, spanning several boom-and-bust cycles.sec.gov
  • One ticker, ten coins: the portfolio mirrors the Bitwise 10 Large Cap Crypto Index and rebalances monthly as the index changes, so you skip wallets, keys and coin-picking.
  • No style drift. The fund holds what its index says it holds, one of the tighter mandate implementations among the ten funds in its category.
  • Reports like a public company: annual 10-K and quarterly 10-Q filings with the SEC put holdings and audited financials on the record.sec.govsec.gov 2
  • GDLC Five large, liquid coins in a single market-cap-weighted basket tracking the CoinDesk 5 Index. No exchange accounts, no wallets, no seed phrases.
  • At 0.59% a year it lands at the median for multi-coin baskets, and far under the 2.50% Bitwise charges on BITW.
  • Running since 2018, one of the longest histories among multi-coin crypto funds, and it stands in the upper half of that group.
  • The mandate is literal: hold the index's five names at market-cap weight. No manager hunting the next winner.

Worth knowing

  • BITW Cost is the trade-off: 0.75% sits above the category median, and cheaper broad crypto baskets exist (EZPZ at 0.19%, NCIQ at 0.25%).
  • Crypto sits at the volatile end of the shelf. A ten-asset basket blunts single-coin blowups, but not the asset class's deep drawdowns.
  • It trades lighter than the category's busiest names, so spreads can run wider, and the trust makes no distributions: price is the whole return story.
  • GDLC Trades lightly for its category, so spreads can run wider than the headline crypto funds. Limit orders earn their keep here.
  • Five coins at market-cap weight means the largest one carries most of the load. This is concentrated crypto exposure, and it moves like it.
  • Cheaper doors to the same basket idea exist: EZPZ at 0.00% and NCIQ at 0.25%. And there is no income here, only coin prices.

Full BITW profile⁠

Full GDLC profile⁠

BITW vs GDLC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BITW vs GDLC Cost

Overpaying BITW vs GDLC

$2,847

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BITW 0.75%

    $14,482

  • GDLC 0.59%

    $11,635

$10,000
30 years

Cost over time

  • BITW 0.75%
  • GDLC 0.59%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530BITW $14,482GDLC $11,635

Year by year

YearBITWGDLCOverpaying
10$1,336$1,058$278
20$5,078$4,051$1,027
30$14,482$11,635$2,847

Expense ratio

  • 0.75%BITW
  • 0.59%GDLC, cheaper
  • Middle half of Spot Crypto Basket funds
  • Median 0.67%

GDLC 5th cheapest of 10 funds

BITW 6th cheapest of 10 funds

BITW vs GDLC Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
BITW None
GDLC None

Distribution history

BITWAll BITW payments⁠

No distribution history available.

GDLCAll GDLC payments⁠

No distribution history available.

BITW vs GDLC Risk

Fall from peak · 5 years

  • BITW
  • GDLC
Oct 29, 2021 to Oct 30, 2026. Worst fall: BITW −90.4% · Dec 2022. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
BITW 66.6%, betterGDLC 70.1%
Return per unit of riskSharpe ratio, 3 years
BITW 0.74, betterGDLC 0.73
Worst fallMax drawdown, 5 years
BITW −90.4%GDLC −89.0%, better
Market sensitivityBeta, 5 years
BITW 2.49GDLC 2.44

BITW and GDLC in the news

All news⁠

Popular comparisons

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