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HODL vs IBIT

VanEck Bitcoin ETF

HODLACboe

iShares Bitcoin Trust ETF

IBITBNasdaq

Overlap

Expense ratio

HODL −0.05pt a year

HODL0.20%IBIT0.25%

Avg volume · 30D

IBIT 45.6×the volume

HODL996KIBIT45.4M

HODL vs IBIT Performance

Oct 31, 2025 – Oct 30, 2026

−30.2%HODL−30.4%IBIT

Oct 31, 2025 to Oct 30, 2026. HODL −30.2%. IBIT −30.4%. Use the arrow keys to read each point.−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
HODL 0.20%, better
IBIT 0.25%
Fund size
HODL $1.12B
IBIT $62.3B
1Y total return
HODL −30.2%, better
IBIT −30.4%
Holdings
HODL 1
IBIT 2
Avg volume (30D)
HODL 996K sh
IBIT 45.4M sh, better
NAV per share
HODL $21.61
IBIT $43.28
52W range

ETF.net Grade

HODL: Cost 75, Risk 60, Mission 100, Tradability 48, Holdings not scored, Durability 68. IBIT: Cost 35, Risk 46, Mission 100, Tradability 67, Holdings not scored, Durability 94.
Pillar letters and Scores for HODL, IBIT, with each pillar’s weight
PillarHODLIBIT
Cost30% weightA75HigherD35
Mission25% weightA100A100
Risk15% weightB60HigherC46
Tradability15% weightC48B67Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB68A94Higher

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. HODL 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 ›

HODL ranks 3rd and IBIT 8th 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 7BFBTCFidelity Wise Origin Bitcoin FundScore 64
  6. Rank 8BIBITiShares Bitcoin Trust ETFScore 63
  7. Rank 9BBTCOInvesco Galaxy Bitcoin ETFScore 59

Our read on each fund

ETF.net Research

HODLAVanEck Bitcoin ETF

IBITBiShares Bitcoin Trust ETF

In short

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.

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

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.

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

  • 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
  • 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

  • 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
  • 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 HODL profile⁠

Full IBIT profile⁠

HODL vs 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.

HODL vs IBIT Cost

Overpaying IBIT vs HODL

$1,004

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

  • HODL 0.20%

    $4,155

  • IBIT 0.25%

    $5,159

$10,000
30 years

Cost over time

  • HODL 0.20%
  • IBIT 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530IBIT $5,159HODL $4,155

Year by year

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

Expense ratio

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

HODL 4th cheapest of 12 funds

IBIT 7th cheapest of 12 funds

HODL vs IBIT Dividends

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

Distribution history

HODLAll HODL payments⁠

No distribution history available.

IBITAll IBIT payments⁠

No distribution history available.

HODL vs IBIT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
HODL 63.2%since Feb 2024IBIT 53.5%since Feb 2024
Return per unit of riskSharpe ratio, 3 years
HODL −0.12since Feb 2024IBIT 0.56since Feb 2024
Worst fallMax drawdown, 5 years
HODL −93.7%since Jan 2024IBIT −53.3%since Jan 2024
Market sensitivityBeta, 5 years
HODL 2.13IBIT 2.14

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