Skip to content
etf.net

FBTC vs IBIT

Fidelity Wise Origin Bitcoin Fund

FBTCBCboe

iShares Bitcoin Trust ETF

IBITBNasdaq

Overlap

100%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

FBTC0.25%IBIT0.25%

Avg volume · 30D

IBIT 12.2×the volume

FBTC3.65MIBIT44.7M

FBTC vs IBIT Performance

Nov 6, 2025 – Nov 6, 2026

−25.1%FBTC−25.1%IBIT

Nov 6, 2025 to Nov 6, 2026. FBTC −25.1%. IBIT −25.1%. Use the arrow keys to read each point.−40%−20%−10%0%Nov 2025May 2026Nov 2026
Expense ratio
FBTC 0.25%
IBIT 0.25%
Fund size
FBTC $13.5B
IBIT $60.7B
1Y total return
FBTC −25.1%
IBIT −25.1%
Holdings
FBTC 1
IBIT 2
Avg volume (30D)
FBTC 3.65M sh
IBIT 44.7M sh, better
NAV per share
FBTC $65.88
IBIT $42.87
52W range

ETF.net Grade

FBTC: Cost 35, Risk 45, Mission 100, Tradability 78, Holdings not scored, Durability 76. IBIT: Cost 35, Risk 45, Mission 100, Tradability 70, Holdings not scored, Durability 94.
Pillar letters and Scores for FBTC, IBIT, with each pillar’s weight
PillarFBTCIBIT
Cost30% weightD35D35
Mission25% weightA100A100
Risk15% weightC45C45
Tradability15% weightA78HigherA70
Holdings10% weightNot scoredNot scored
Durability5% weightA76A94Higher

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. FBTC and IBIT 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 ›

FBTC ranks 7th and IBIT 8th of 12 funds in the Spot Bitcoin Category.

  1. Rank 6BARKBARK 21Shares Bitcoin ETFScore 68
  2. Rank 7BFBTCFidelity Wise Origin Bitcoin FundScore 64
  3. Rank 8BIBITiShares Bitcoin Trust ETFScore 63
  4. Rank 9BBTCOInvesco Galaxy Bitcoin ETFScore 59

Our read on each fund

ETF.net Research

FBTCBFidelity Wise Origin Bitcoin Fund

IBITBiShares Bitcoin Trust ETF

In short

FBTC No data

IBIT BlackRock's answer to "I want bitcoin, not a hardware wallet." It holds spot bitcoin, opened in January 2024, and has since become one of the biggest and busiest funds in the spot bitcoin group.

Stated mandate

FBTC No data

IBIT The fund seeks to track the price of bitcoin through an exchange-traded product, providing bitcoin exposure without requiring investors to hold and custody bitcoin directly.

Why people hold it

FBTC No data

  • IBIT Spot bitcoin, plain: the trust holds the coin and you hold shares in a normal brokerage account. No futures roll, no leverage, no seed phrase to lose.
  • Scale and turnover: a multi-billion-dollar fund and one of the most actively traded in its category, the kind of volume that usually keeps bid-ask spreads thin.
  • Single job, done cleanly: it tracks the price of bitcoin. No miner stocks, no income overlay, no leverage sleeve dressed up as bitcoin exposure.

Worth knowing

FBTC No data

  • IBIT The 0.25% fee lands right at the category median, and several rivals holding the same asset charge less (BTC at 0.15%, BITB and HODL at 0.20%).
  • No distributions. Bitcoin's price is the entire ride, and that ride is a volatile one.
  • Young by fund standards: it launched in January 2024, so there is no long record to study, only bitcoin's own history.

Full FBTC profile⁠

Full IBIT profile⁠

FBTC vs IBIT Holdings

How FBTC and IBIT differ

Overlap by weight

100%

Shared holdings make up 100% of FBTC and 100% of IBIT.

Level by level

  • Asset classAlternatives100%
  • Holdings1 in both100%

Sector

No Sector split for FBTC and IBIT.

Country, concentration and asset class

Country by domicile

No country split for FBTC and IBIT.

Concentration

Weight in the 10 largest Holdings

  • FBTC100.0%
  • IBIT100.0%

Securities held

  • FBTC1
  • IBIT1

Asset class

FBTC
Alternatives
IBIT
Alternatives

Holdings

  • Only in FBTC0
  • In both1
  • Only in IBIT0

Only in FBTC

0 securities, 0.0% of FBTC by weight

Only in IBIT

0 securities, 0.0% of IBIT by weight

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in FBTC and IBIT, widest gap first
HoldingMore in FBTCMore in IBITGap
BitcoinSame weight

All FBTC holdings⁠All 1 IBIT 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.

FBTC vs IBIT Cost

Same expense ratio

$5,159

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

  • FBTC 0.25%

    $5,159

  • IBIT 0.25%

    $5,159

$10,000
30 years

Cost over time

  • FBTC 0.25%
  • IBIT 0.25%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FBTC $5,159IBIT $5,159

Year by year

YearFBTCIBIT
10$455$455
20$1,769$1,769
30$5,159$5,159

Expense ratio

  • 0.25%FBTC
  • 0.25%IBIT
  • Middle half of Spot Bitcoin funds
  • Median 0.23%

FBTC 7th cheapest of 12 funds

IBIT 7th cheapest of 12 funds

FBTC vs IBIT Dividends

Last 12 months to Nov 6, 2026
Payout (12M)
FBTC None
IBIT None

Distribution history

FBTCAll FBTC payments⁠

No distribution history available.

IBITAll IBIT payments⁠

No distribution history available.

FBTC vs IBIT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FBTC 53.4%since Feb 2024IBIT 53.5%since Feb 2024
Return per unit of riskSharpe ratio, 3 years
FBTC 0.56since Feb 2024IBIT 0.56since Feb 2024Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
FBTC −53.4%since Jan 2024IBIT −53.3%since Jan 2024
Market sensitivityBeta, 5 years
FBTC 2.17IBIT 2.18

FBTC and IBIT in the news

All news⁠

Popular comparisons

  • FBTCBvsGBTCC

    Fidelity Wise Origin Bitcoin Fund · Grayscale Bitcoin Trust ETF

    Expense ratio
    0.25% · 1.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBITBvsGBTCC

    iShares Bitcoin Trust ETF · Grayscale Bitcoin Trust ETF

    Expense ratio
    0.25% · 1.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FBTCBvsMSBTA

    Fidelity Wise Origin Bitcoin Fund · Morgan Stanley Bitcoin Trust ETF

    Expense ratio
    0.25% · 0.14%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBITBvsMSBTA

    iShares Bitcoin Trust ETF · Morgan Stanley Bitcoin Trust ETF

    Expense ratio
    0.25% · 0.14%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FBTCBvsBTCA

    Fidelity Wise Origin Bitcoin Fund · Grayscale Bitcoin Mini Trust ETF

    Expense ratio
    0.25% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBITBvsBTCA

    iShares Bitcoin Trust ETF · Grayscale Bitcoin Mini Trust ETF

    Expense ratio
    0.25% · 0.15%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.