Which ETF has a lower expense ratio, GBTC or ARKB?

ARKB has the lower expense ratio at 0.21% vs 1.50% for GBTC.

Which ETF is larger by assets under management, GBTC or ARKB?

GBTC is larger by AUM. GBTC has approximately $8.4B in assets versus $2.1B for ARKB (based on most recent available data).

Can I hold both GBTC and ARKB in my portfolio?

Yes. Both GBTC and ARKB can be held simultaneously through most brokerage accounts. However, since both track the spot price of Bitcoin, holding both in large quantities results in concentrated and highly correlated exposure. Investors typically choose one spot Bitcoin ETF rather than diversifying across multiple to keep costs low.

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GBTC vs ARKB

Head-to-head Bitcoin ETF comparison - expense ratios, AUM, performance, and more

Quick Answer

ARKB has the lower expense ratio at 0.21% versus 1.50%. Grayscale's GBTC is roughly 4x larger by assets ($8.4B vs $2.1B). ARK 21Shares's ARKB uses Coinbase Custody (primary, with BitGo added) for Bitcoin custody, while GBTC uses Coinbase Custody.

GBTC

Grayscale Bitcoin Trust ETF

IssuerGrayscale

Expense Ratio1.50%

AUM$8.4B

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ARKB

ARK 21Shares Bitcoin ETF

IssuerARK 21Shares

Expense Ratio0.21%

AUM$2.1B

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At a Glance

Lower Fee

ARKB

Larger AUM

GBTC

More Liquid

Tied

Best YTD

ARKB

Full Comparison

Metric	GBTC	ARKB
Expense Ratio	1.50%	0.21% Winner
AUM	$8.4B Winner	$2.1B
Price	$50.30	$21.54
YTD Return	-28.29%	-27.69% Winner
1-Year Return	-45.59%	-44.91% Winner
Avg Daily Volume	2.7M Tie	3.6M Tie
Custodian	Coinbase Custody	Coinbase Custody (primary, with BitGo added)
Issuer	Grayscale	ARK 21Shares
Inception Date	Sep 25, 2013	Jan 11, 2024
Exchange Listed	NYSE Arca	Cboe BZX Exchange
SEC Registered	Yes	Yes

Key Differences

Different Custodians

GBTC holds its Bitcoin with Coinbase Custody, while ARKB uses Coinbase Custody (primary, with BitGo added). Custodian choice affects your exposure to counterparty risk and the operational security model protecting the fund's Bitcoin.

Cost Difference

ARKB costs 1.29 percentage points less per year. On a $100,000 position held for 10 years, that compounds to meaningful savings. Over long holding periods, expense ratio differences are a primary driver of net returns.

Which Is Right For You?

GBTC is best for:

Investors seeking established Bitcoin exposure with institutional-grade custodial security

ARKB is best for:

U.S. investors seeking low-cost direct Bitcoin exposure through a dual-custodied spot ETF

21Rates Take

GBTC and ARKB differ primarily on cost, with ARKB offering a dramatically lower expense ratio compared to GBTC's legacy fee structure. GBTC's staying power comes from its decade-long history as the primary institutional Bitcoin vehicle and a large existing holder base reluctant to sell because of embedded gains. ARKB is a modern ETF with competitive pricing from day one. New investors have no compelling reason to choose GBTC over ARKB on fee grounds. Only existing GBTC holders with significant unrealized gains face a genuine dilemma.

Reviewed by 21Rates Editorial on Jul 20, 2026

Frequently Asked Questions

What is the difference between GBTC and ARKB?

GBTC is issued by Grayscale and charges a 1.50% expense ratio, while ARKB is issued by ARK 21Shares at 0.21%. Both are spot Bitcoin ETFs that hold physical Bitcoin. They differ in issuer, custody arrangements (GBTC uses Coinbase Custody; ARKB uses Coinbase Custody (primary, with BitGo added)), and overall fund scale.

Which has the lower expense ratio, GBTC or ARKB?

ARKB has a lower expense ratio at 0.21% versus 1.50% for GBTC.

Which ETF has more assets under management?

GBTC is the larger fund by AUM at $8.4B versus $2.1B for ARKB.

Can I hold both GBTC and ARKB at the same time?

Yes. Both funds can be held in most brokerage accounts simultaneously. However, since both track Bitcoin, holding both creates highly correlated exposure. Most investors choose one fund to keep costs and complexity low.

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Market data (price, AUM, volume, returns) is updated up to 3 times daily from live market sources. Expense ratios and fund details are sourced from fund prospectuses and issuer disclosures.

Data as of Aug 8, 2026.

This comparison is for informational purposes only and does not constitute investment advice. Bitcoin ETFs are subject to market risk including the potential loss of principal. Past performance does not guarantee future results.