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FBTC vs MSBT

Fidelity Wise Origin Bitcoin Fund

FBTCBCboe

Morgan Stanley Bitcoin Trust ETF

MSBTANYSE Arca

Overlap

Expense ratio

MSBT −0.11pt a year

FBTC0.25%MSBT0.14%

Avg volume · 30D

FBTC 6.1×the volume

FBTC3.65MMSBT602K

FBTC vs MSBT Performance

Aug 6, 2026 – Nov 6, 2026

+17.6%FBTC+17.7%MSBT

Aug 6, 2026 to Nov 6, 2026. FBTC +17.6%. MSBT +17.7%. Use the arrow keys to read each point.0%30%Aug 2026Sep 2026Nov 2026
Expense ratio
FBTC 0.25%
MSBT 0.14%, better
Fund size
FBTC $13.5B
MSBT $825M
1Y total return
FBTC −25.1%
MSBT No data
Holdings
FBTC 1
MSBT 1
Avg volume (30D)
FBTC 3.65M sh, better
MSBT 602K sh
NAV per share
FBTC $65.88
MSBT $21.71
52W range

ETF.net Grade

FBTC: Cost 35, Risk 45, Mission 100, Tradability 78, Holdings not scored, Durability 76. MSBT: Cost 98, Risk 79, Mission not scored, Tradability 56, Holdings 100, Durability 37.
Pillar letters and Scores for FBTC, MSBT, with each pillar’s weight
PillarFBTCMSBT
Cost30% weightD35A98Higher
Mission25% weightA100Not scored
Risk15% weightC45A79Higher
Tradability15% weightA78HigherB56
Holdings10% weightNot scoredA100
Durability5% weightA76HigherD37

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 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 FBTC 7th of 12 funds in the Spot Bitcoin Category.

  1. Rank 1ABTCGrayscale Bitcoin Mini Trust ETFScore 81
  2. Rank 2AMSBTMorgan Stanley Bitcoin Trust ETFScore 79
  3. Rank 3ABITBBitwise Bitcoin ETF TrustScore 72
  4. Rank 6BARKBARK 21Shares Bitcoin ETFScore 68
  5. Rank 7BFBTCFidelity Wise Origin Bitcoin FundScore 64
  6. Rank 8BIBITiShares Bitcoin Trust ETFScore 63

Our read on each fund

ETF.net Research

FBTCBFidelity Wise Origin Bitcoin Fund

MSBTAMorgan Stanley Bitcoin Trust ETF

In short

FBTC No data

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

FBTC No data

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

FBTC No data

  • 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

FBTC No data

  • 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 FBTC profile⁠

Full MSBT profile⁠

FBTC 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.

FBTC vs MSBT Cost

Overpaying FBTC vs MSBT

$2,227

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

  • FBTC 0.25%

    $5,159

  • MSBT 0.14%

    $2,932

$10,000
30 years

Cost over time

  • FBTC 0.25%
  • MSBT 0.14%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FBTC $5,159MSBT $2,932

Year by year

YearFBTCMSBTOverpaying
10$455$256$199
20$1,769$1,000$769
30$5,159$2,932$2,227

Expense ratio

  • 0.25%FBTC
  • 0.14%MSBT, cheaper
  • Middle half of Spot Bitcoin funds
  • Median 0.23%

MSBT cheapest of 12 funds

FBTC 7th cheapest of 12 funds

FBTC vs MSBT Dividends

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

Distribution history

FBTCAll FBTC payments⁠

No distribution history available.

MSBTAll MSBT payments⁠

No distribution history available.

FBTC vs MSBT 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 2024MSBT No data
Return per unit of riskSharpe ratio, 3 years
FBTC 0.56since Feb 2024MSBT No data
Worst fallMax drawdown, 5 years
FBTC −53.4%since Jan 2024MSBT No data
Market sensitivityBeta, 5 years
FBTC 2.17MSBT 1.01

FBTC and MSBT in the news

All news⁠

Popular comparisons

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