Crypto Index vs the S&P 500 (BITW): is it outperforming?
Over the past month, BITW has underperformed the S&P 500 by 2.2 points. Here is where that puts it in the sector rotation — updated daily.
Where BITW sits on the rotation map
Crypto Index highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
BITW vs SPY: head-to-head returns
BITW (crypto index) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means BITW won that window.
Data as of 2026-07-13 · computed from daily adjusted closes · how we measure
The read
Crypto Index (BITW) is out of favor: it trails the S&P 500 on both rotation windows — 2.2 points behind over the past month and 23.9 points behind over the longer, time-shifted window. That is the lagging quadrant. Ranked by one-month spread, it currently stands #67 of the 115 groups Zensei tracks.
On the shorter tape, BITW's momentum reads strong: the recent hourly trend is positive across every lookback Zensei measures. BITW's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The two signals agree — the short-term tape and the longer trend point the same way.
The thing to watch from here is the one-month spread: laggards only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
Crypto Index vs the market — common questions
Is crypto index outperforming the S&P 500?
Right now, no: over the past month BITW has underperformed the S&P 500 by 2.2 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is BITW?
BITW is Bitwise 10 Crypto Index Fund, the fund Zensei uses to measure the crypto index group against the S&P 500 benchmark (SPY).
What quadrant is crypto index in right now?
As of the latest daily data, crypto index is in the lagging quadrant — trailing the S&P 500 on both windows. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track crypto index against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.