Which ETF has a lower expense ratio, IBIT or BITB?

BITB has the lower expense ratio at 0.20% vs 0.25% for IBIT.

Which ETF is larger by assets under management, IBIT or BITB?

IBIT is larger by AUM. IBIT has approximately $46.5B in assets versus $2.3B for BITB (based on most recent available data).

Can I hold both IBIT and BITB in my portfolio?

Yes. Both IBIT and BITB 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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IBIT vs BITB

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

Quick Answer

BITB has the lower expense ratio at 0.20% versus 0.25%. iShares's IBIT is roughly 20x larger by assets ($46.5B vs $2.3B) and trades roughly 20x the daily volume. Bitwise's BITB uses Bank of New York Mellon for Bitcoin custody, while IBIT uses Coinbase Custody.

IBIT

BlackRock iShares Bitcoin Trust ETF

IssueriShares

Expense Ratio0.25%

AUM$46.5B

View full profile

BITB

Bitwise Bitcoin ETF Trust ETF

IssuerBitwise

Expense Ratio0.20%

AUM$2.3B

View full profile

At a Glance

Lower Fee

BITB

Larger AUM

IBIT

More Liquid

IBIT

Best YTD

Tied

Full Comparison

Metric	IBIT	BITB
Expense Ratio	0.25%	0.20% Winner
AUM	$46.5B Winner	$2.3B
Price	$36.80	$35.24
YTD Return	-27.76% Tie	-27.79% Tie
1-Year Return	-44.93% Tie	-44.92% Tie
Avg Daily Volume	46.7M Winner	2.4M
Custodian	Coinbase Custody	Bank of New York Mellon
Issuer	iShares	Bitwise
Inception Date	Jan 5, 2024	Jan 11, 2024
Exchange Listed	Nasdaq	NYSE Arca
SEC Registered	Yes	Yes

Key Differences

Different Custodians

IBIT holds its Bitcoin with Coinbase Custody, while BITB uses Bank of New York Mellon. Custodian choice affects your exposure to counterparty risk and the operational security model protecting the fund's Bitcoin.

Liquidity Gap

IBIT trades significantly more volume on average, making it easier to enter and exit large positions with tighter bid-ask spreads. BITB is less liquid and can see wider spreads during volatile sessions.

Which Is Right For You?

IBIT is best for:

U.S. investors seeking low-cost spot Bitcoin exposure through a major asset manager

BITB is best for:

Cost-conscious investors seeking regulated spot bitcoin exposure with institutional-grade custody

21Rates Take

BITB from Bitwise offers a slightly lower expense ratio than IBIT, and Bitwise has strong Bitcoin-native credibility as a crypto-focused asset manager. However, IBIT's massive liquidity advantage means tighter bid-ask spreads, which can offset BITB's fee savings for active traders. Long-term buy-and-hold investors may find BITB's fee edge meaningful over decades of compounding. IBIT remains the institutional default by sheer scale. The choice often comes down to brand preference: BlackRock's name recognition versus Bitwise's crypto-first reputation and pure Bitcoin focus.

Reviewed by 21Rates Editorial on Jul 20, 2026

Frequently Asked Questions

What is the difference between IBIT and BITB?

IBIT is issued by iShares and charges a 0.25% expense ratio, while BITB is issued by Bitwise at 0.20%. Both are spot Bitcoin ETFs that hold physical Bitcoin. They differ in issuer, custody arrangements (IBIT uses Coinbase Custody; BITB uses Bank of New York Mellon), and overall fund scale.

Which has the lower expense ratio, IBIT or BITB?

BITB has a lower expense ratio at 0.20% versus 0.25% for IBIT.

Which ETF has more assets under management?

IBIT is the larger fund by AUM at $46.5B versus $2.3B for BITB.

Can I hold both IBIT and BITB 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.