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ARKB vs MSBT

ARK 21Shares Bitcoin ETF

ARKBBCboe

Morgan Stanley Bitcoin Trust ETF

MSBTANYSE Arca

Overlap

Expense ratio

MSBT −0.07pt a year

ARKB0.21%MSBT0.14%

Avg volume · 30D

ARKB 2.8×the volume

ARKB1.71MMSBT615K

ARKB vs MSBT Performance

Jul 31, 2026 – Oct 30, 2026

+22.0%ARKB+22.0%MSBT

Jul 31, 2026 to Oct 30, 2026. ARKB +22.0%. MSBT +22.0%. Use the arrow keys to read each point.0%10%30%Jul 2026Sep 2026Oct 2026
Expense ratio
ARKB 0.21%
MSBT 0.14%, better
Fund size
ARKB $2.91B
MSBT $830M
1Y total return
ARKB −30.3%
MSBT No data
Holdings
ARKB 1
MSBT 1
Avg volume (30D)
ARKB 1.71M sh, better
MSBT 615K sh
NAV per share
ARKB $25.35
MSBT $21.91
52W range

ETF.net Grade

ARKB: Cost 59, Risk 46, Mission 100, Tradability 61, Holdings not scored, Durability 57. MSBT: Cost 98, Risk 79, Mission not scored, Tradability 56, Holdings 100, Durability 37.
Pillar letters and Scores for ARKB, MSBT, with each pillar’s weight
PillarARKBMSBT
Cost30% weightB59A98Higher
Mission25% weightA100Not scored
Risk15% weightC46A79Higher
Tradability15% weightB61HigherB56
Holdings10% weightNot scoredA100
Durability5% weightB57HigherD37

Rank among Spot Bitcoin funds

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

Same Category. ARKB and MSBT are both graded against the same 12 Spot Bitcoin funds, so their Grades compare head to head.

Spot Bitcoin⁠

Category · 12 funds
See all 12 ›

MSBT ranks 2nd and ARKB 6th of 12 funds in the Spot Bitcoin Category.

  1. Rank 1ABTCGrayscale Bitcoin Mini Trust ETFScore 80
  2. Rank 2AMSBTMorgan Stanley Bitcoin Trust ETFScore 79
  3. Rank 3AHODLVanEck Bitcoin ETFScore 74
  4. Rank 5BEZBCFranklin Bitcoin ETFScore 69
  5. Rank 6BARKBARK 21Shares Bitcoin ETFScore 68
  6. Rank 7BFBTCFidelity Wise Origin Bitcoin FundScore 64

Our read on each fund

ETF.net Research

ARKBBARK 21Shares Bitcoin ETF

MSBTAMorgan Stanley Bitcoin Trust ETF

In short

ARKB One of the original spot bitcoin ETFs from the January 2024 class, ARK's version built with 21Shares. It holds actual bitcoin in a grantor trust, tracks the CME CF benchmark, and prices below the category median.

MSBT Morgan Stanley's own spot bitcoin vehicle, arriving late to a crowded field and competing on price: 0.14% a year, well under the category median. Plain plumbing, bitcoin held outright, no leverage and no derivatives.

Stated mandate

ARKB The Trust seeks to track bitcoin’s performance, measured by the CME CF Bitcoin Reference Rate—New York Variant, after expenses and liabilities. It holds bitcoin and values its shares using the Index.

MSBT The Trust is a passive ETF designed to track bitcoin’s performance, as measured by its Pricing Benchmark, after expenses and liabilities. It will hold bitcoin and does not use leverage or derivatives.

Why people hold it

  • ARKB Undercuts the typical spot bitcoin fund on fee: 0.21% against a 0.25% category median, with real bitcoin in the trust rather than futures contracts.
  • Tracks its stated benchmark, the CME CF Bitcoin Reference Rate (New York Variant), very tightly, and stands in the upper half of a crowded spot bitcoin group.
  • Launched in January 2024 with the first wave of US spot bitcoin funds and has since become a multi-billion-dollar, actively traded name.
  • MSBT At 0.14% a year, it prices under the 0.25% median of the spot bitcoin group and below shelf staples like BITB, HODL and ARKB.
  • No clever wrapper: the trust holds bitcoin itself and tracks the CoinDesk Bitcoin Benchmark 4PM NY Settlement Rate, after expenses.
  • Sits in the upper half of a 13-fund spot bitcoin cohort, helped by a clean single-asset portfolio and a fee near the low end of the group.

Worth knowing

  • ARKB Not the cheapest seat in the row: BTC lists 0.15%, BITB and HODL 0.20%, and EZBC has been running at zero.
  • Pure bitcoin exposure, which means bitcoin's full swings and drawdowns. The trust makes no distributions.
  • It is a grantor trust, not a registered fund, so the investor protections differ from those of a conventional ETF.
  • MSBT Bitcoin, straight up. The price moves with the coin, with no buffer or hedge, and the trust has made no distributions.
  • It is a grantor trust, not a registered fund, so the governance and shareholder rulebook differ from a conventional ETF.
  • Launched in 2026, so there is only a short record behind its tracking and trading behavior.

Full ARKB profile⁠

Full MSBT profile⁠

ARKB vs MSBT 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.

ARKB vs MSBT Cost

Overpaying ARKB vs MSBT

$1,425

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

  • ARKB 0.21%

    $4,357

  • MSBT 0.14%

    $2,932

$10,000
30 years

Cost over time

  • ARKB 0.21%
  • MSBT 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530ARKB $4,357MSBT $2,932

Year by year

YearARKBMSBTOverpaying
10$383$256$127
20$1,491$1,000$491
30$4,357$2,932$1,425

Expense ratio

  • 0.21%ARKB
  • 0.14%MSBT, cheaper
  • Middle half of Spot Bitcoin funds
  • Median 0.23%

MSBT cheapest of 12 funds

ARKB 6th cheapest of 12 funds

ARKB vs MSBT Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
ARKB None
MSBT None

Distribution history

ARKBAll ARKB payments⁠

No distribution history available.

MSBTAll MSBT payments⁠

No distribution history available.

ARKB vs MSBT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ARKB 53.5%since Feb 2024MSBT No data
Return per unit of riskSharpe ratio, 3 years
ARKB 0.56since Feb 2024MSBT No data
Worst fallMax drawdown, 5 years
ARKB −53.3%since Jan 2024MSBT No data
Market sensitivityBeta, 5 years
ARKB 2.14MSBT 1.01

ARKB and MSBT in the news

All news⁠

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