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BRRR vs HODL

CoinShares Bitcoin ETF

BRRRCNasdaq

VanEck Bitcoin ETF

HODLACboe

Overlap

Expense ratio

HODL −0.05pt a year

BRRR0.25%HODL0.20%

Avg volume · 30D

HODL 15.5×the volume

BRRR64.1KHODL996K

BRRR vs HODL Performance

Oct 31, 2025 – Oct 30, 2026

−30.3%BRRR−30.2%HODL

Oct 31, 2025 to Oct 30, 2026. BRRR −30.3%. HODL −30.2%. Use the arrow keys to read each point.−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
BRRR 0.25%
HODL 0.20%, better
Fund size
BRRR $462M
HODL $1.12B
1Y total return
BRRR −30.3%
HODL −30.2%, better
Holdings
BRRR 2
HODL 1
Avg volume (30D)
BRRR 64.1K sh
HODL 996K sh, better
NAV per share
BRRR $22.75
HODL $21.61
52W range

ETF.net Grade

BRRR: Cost 35, Risk 46, Mission 100, Tradability 14, Holdings not scored, Durability 37. HODL: Cost 75, Risk 60, Mission 100, Tradability 48, Holdings not scored, Durability 68.
Pillar letters and Scores for BRRR, HODL, with each pillar’s weight
PillarBRRRHODL
Cost30% weightD35A75Higher
Mission25% weightA100A100
Risk15% weightC46B60Higher
Tradability15% weightF14C48Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD37B68Higher

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. BRRR and HODL 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 ›

HODL ranks 3rd and BRRR 12th 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 4ABITBBitwise Bitcoin ETF TrustScore 72
  5. Rank 11CBTCWWisdomTree Bitcoin FundScore 53
  6. Rank 12CBRRRCoinShares Bitcoin ETFScore 51

Our read on each fund

ETF.net Research

BRRRCCoinShares Bitcoin ETF

HODLAVanEck Bitcoin ETF

In short

BRRR Live since January 2024, CoinShares' spot bitcoin fund keeps it simple: hold the coin, value shares off the CME CF New York reference rate, charge the category's median fee. Same index the household names use, smaller nameplate.

HODL VanEck's spot bitcoin fund does exactly one thing: hold bitcoin. No futures, no yield story, no cleverness. It is priced below the category median and splits the coins across two named custodians instead of one.

Stated mandate

BRRR The Trust seeks to track bitcoin’s value as represented by the CME CF Bitcoin Reference Rate – New York Variant, after expenses and liabilities. It holds bitcoin and values its shares using that index.

HODL The Trust seeks to track the price of bitcoin, net of its operating expenses, through a passive strategy that does not pursue returns beyond bitcoin’s price performance.

Why people hold it

  • BRRR Narrow mandate, cleanly executed: hold bitcoin, value shares off the CME CF Bitcoin Reference Rate (New York Variant), less expenses. Tracking of that index has been very close.
  • The 0.25% fee sits right at the cohort median and matches what several of the biggest US spot bitcoin funds charge, including IBIT and BTCO.
  • Spot bitcoin in a grantor trust: no futures to roll, no crypto exchange account, no private keys to guard. It trades in a brokerage account like any other ticker.
  • HODL A 0.20% sponsor fee, under the median for spot bitcoin funds, on a product whose entire job is holding coins.vaneck.com
  • Deliberately plain mandate: track bitcoin's price net of expenses, full stop. Nothing reaching for returns beyond the coin, and it has followed that mandate very closely.vaneck.com
  • VanEck names two crypto custodians for the trust's bitcoin, Gemini and Coinbase Custody, rather than routing every coin through a single vault.vaneck.com
  • Listed options trade on HODL, so collars and covered-call structures are available in a normal brokerage account.vaneck.com

Worth knowing

  • BRRR Same benchmark, cheaper doors: BTC, BITB and HODL track the identical reference rate at a lower headline fee.
  • Smaller and less heavily traded than the category's giants, which can show up as wider spreads when bitcoin is moving fast.
  • Pure price exposure. It holds bitcoin and pays no distributions, so the coin's full volatility comes through with no income to soften it.
  • HODL Bitcoin sets the whole ride. The design follows the coin down as faithfully as up, and there is no hedge or buffer in the wrapper.
  • No distributions. Price is the entire story here, and the sponsor fee accrues against the trust's bitcoin whatever the market does.vaneck.com
  • Fees in this cohort are a moving target: BTC and EZBC list lower headline rates, and temporary waivers keep reshuffling who is cheapest.vaneck.com

Full BRRR profile⁠

Full HODL profile⁠

BRRR vs HODL 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.

BRRR vs HODL Cost

Overpaying BRRR vs HODL

$1,004

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

  • BRRR 0.25%

    $5,159

  • HODL 0.20%

    $4,155

$10,000
30 years

Cost over time

  • BRRR 0.25%
  • HODL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530BRRR $5,159HODL $4,155

Year by year

YearBRRRHODLOverpaying
10$455$365$90
20$1,769$1,421$348
30$5,159$4,155$1,004

Expense ratio

  • 0.25%BRRR
  • 0.20%HODL, cheaper
  • Middle half of Spot Bitcoin funds
  • Median 0.23%

HODL 4th cheapest of 12 funds

BRRR 7th cheapest of 12 funds

BRRR vs HODL Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
BRRR None
HODL None

Distribution history

BRRRAll BRRR payments⁠

No distribution history available.

HODLAll HODL payments⁠

No distribution history available.

BRRR vs HODL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BRRR 53.4%since Feb 2024HODL 63.2%since Feb 2024
Return per unit of riskSharpe ratio, 3 years
BRRR 0.56since Feb 2024HODL −0.12since Feb 2024
Worst fallMax drawdown, 5 years
BRRR −53.3%since Jan 2024HODL −93.7%since Jan 2024
Market sensitivityBeta, 5 years
BRRR 2.11HODL 2.13

BRRR and HODL in the news

All news⁠

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