Sõnatüvi "gut" tähistab goote ning sageli arvatakse, et keelel on sarnasusi gooti keelega. Sarnasuse parimaks näiteks peetakse seda, et mõlemas keeles nimetati täiskasvanud ja noort lammast samamoodi. Õpetlased Elias Wessén ja Dietrich Hofmann oletavad, et vanagutni keel on gooti keelega kõige lähedamalt seotud keel.
Þissi þieluar hafþi ann sun sum hit hafþi. En hafþa cuna hit huita stierna þaun tu bygþu fyrsti agutlandi fyrstu nat sum þaun saman suafu þa droymdi hennj draumbr. So sum þrir ormar warin slungnir saman j barmj hennar Oc þytti hennj sum þair scriþin yr barmi hennar. þinna draum segþi han firi hasþa bonda sinum hann riaþ dravm þinna so. Alt ir baugum bundit bo land al þitta warþa oc faum þria syni aiga. þaim gaf hann namn allum o fydum. guti al gutland aigha graipr al annar haita Oc gunfiaun þriþi. þair sciptu siþan gutlandi i þria þriþiunga. So at graipr þann elzti laut norþasta þriþiung oc guti miþal þriþiung En gunfiaun þann yngsti laut sunnarsta. siþan af þissum þrim aucaþis fulc j gutlandi som mikit um langan tima at land elptj þaim ai alla fyþa þa lutaþu þair bort af landi huert þriþia þiauþ so at alt sculdu þair aiga oc miþ sir bort hafa sum þair vfan iorþar attu.
Þissi Þjelvar hafði ann sun sum hít Hafði. En Hafða kuna hít Hvíta Stjerna. Þaun tú byggðu fyrsti á Gutlandi. Fyrstu nátt sum þaun saman sváfu þá droymdi henni draumr; só sum þrír ormar varin slungnir saman í barmi hennar, ok þýtti henni sum þair skriðin ýr barmi hennar. Þinna draum segði han firi Hafða bónda sínum. Hann raið draum þinna só: "Alt ir baugum bundit, bóland al þitta varða uk fáum þría syni aiga." Þaim gaf hann namn, allum ófýddum; Guti, al Gutland aiga; Graipr, al annar haita; ok Gunnfjaun þriði. Þair skiptu síðan Gutlandi í þría þriðjunga, só at Graipr þann eldsti laut norðasta þriðjung, ok Guti miðal þriðjung, en Gunnfjaun þann yngsti laut sunnarsta. Síðan, af þissum þrim aukaðis fulk í Gutlandi sum mikit um langan tíma at land elpti þaim ai alla fýða. Þá lutaðu þair bort af landi hvert þriðja þjauð só at alt skuldu þair aiga ok mið sír bort hafa sum þair ufan jorðar áttu.
This Thielvar had a son called Hafthi. And Hafthi's wife was called Whitestar. Those two were the first to settle on Gotland. When they slept on the island for the first night, she dreamed that three snakes lay in her lap. She told this to Hafthi. He interpreted her dream and said: "Everything is bound with bangles, this island will be inhabited, and you will bear three sons." Although, they were not yet born, he named them Guti, who would own the island, Graip and Gunfiaun. The sons divided the island into three regions, and Graip who was the eldest took the north, Guti the middle and Gunfjaun, who was the youngest took the southern third. After a long time, their descendants became so numerous that the island could not support all of them. They drew lots and every third islander had to leave. They could keep everything they owned but the land.