A spot crypto ETF is supposed to track the coin it holds, minus whatever it costs to run the fund. On October 2, 2026, ETFIQ could measure that gap for 43 of these funds, and for 36 of them the fund's return landed within a point of the coin's return. The typical gap across the measurable set was 0.60%. That number is not a fee that any sponsor prints on a factsheet. It is the fee plus custody costs plus the friction of creating and redeeming shares in blocks, plus whatever the market happened to pay for the shares rather than for the coin itself, all folded into one number.
Forty-eight funds across nine coins let this be checked coin by coin, since the coin's own move is identical for every fund that holds it, and what separates the funds is only what each one costs to hold. Bitcoin has 13 funds with a median difference of −0.6%, and 11 of 12 measurable funds landed within a point of Bitcoin's −29.9% return. Ether has 11 funds, a median difference of −0.3%, and all 11 within a point of its −40.5% return. Solana's 8 funds carry a median difference of +0.4%, with 7 of 8 within a point of its +47.1% return. XRP's 6 funds show a wider median gap of −1.0%, with only 3 of 5 within a point of its +36.6% return. Avalanche's 3 funds held tight at −0.6% median against a +59.0% coin return. Dogecoin's 3 funds show the widest median gap, −2.4%, and none of them landed within a point of the coin's +25.4% return. Polkadot has a single fund, 0.5% behind its coin's +37.3% return.
Looking across the individual fund rows, the closest trackers sit near the top: Bitwise Solana Staking ETF (BSOL) finished 1.0% ahead of Solana, and Grayscale Ethereum Staking Mini ETF (ETH) finished 0.7% ahead of Ether. At the other end, the Dogecoin funds, Bitwise Dogecoin ETF (BWOW), Grayscale Dogecoin Trust ETF (GDOG) and 21Shares Dogecoin ETF (TDOG), all trailed their coin by more than two points.
Two trusts in the dataset are quoted too thinly to compare on these terms, closing unchanged on more than one trading day in twenty. Their differences against the coin reflect the days somebody happened to trade rather than what the fund itself did over the full period, so they are published without being ranked against the others.
For 33 fund-windows, subtraction cannot state the gap at all. Once either return has compounded far enough, as with ETHE's since-January-2020 return of +627.8% against Ether's +1,854.4%, a simple subtraction produces a meaningless number like −1,227 points. For those windows ETFIQ instead publishes the gap between the two compounded growth factors, which for that ETHE window comes to −62.8%.
Readers can check any individual ticker's current fund return, coin return and difference, along with whether that fund fell inside the "within a point" count for its coin, on the live desk.