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

IBIT and FBTC charge the same expense ratio of 0.25%.

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

IBIT is larger by AUM. IBIT has approximately $46.5B in assets versus $10.8B for FBTC (based on most recent available data).

Can I hold both IBIT and FBTC in my portfolio?

Yes. Both IBIT and FBTC 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 FBTC

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

Quick Answer

IBIT and FBTC both charge 0.25%, and their returns are nearly identical - the real differences are size and custody. iShares's IBIT is roughly 4x larger by assets ($46.5B vs $10.8B) and trades about 11x the daily volume. Fidelity's FBTC uses Fidelity Digital Assets for Bitcoin custody, while IBIT uses Coinbase Custody.

IBIT

BlackRock iShares Bitcoin Trust ETF

IssueriShares

Expense Ratio0.25%

AUM$46.5B

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FBTC

Fidelity Wise Origin Bitcoin Fund ETF

IssuerFidelity

Expense Ratio0.25%

AUM$10.8B

View full profile

At a Glance

Lower Fee

Tied

Larger AUM

IBIT

More Liquid

IBIT

Best YTD

Tied

Full Comparison

Metric	IBIT	FBTC
Expense Ratio	0.25% Tie	0.25% Tie
AUM	$46.5B Winner	$10.8B
Price	$36.80	$56.53
YTD Return	-27.76% Tie	-27.70% Tie
1-Year Return	-44.93% Tie	-44.93% Tie
Avg Daily Volume	46.7M Winner	4.4M
Custodian	Coinbase Custody	Fidelity Digital Assets
Issuer	iShares	Fidelity
Inception Date	Jan 5, 2024	Jan 11, 2024
Exchange Listed	Nasdaq	Cboe BZX Exchange
SEC Registered	Yes	Yes

Key Differences

Different Custodians

IBIT holds its Bitcoin with Coinbase Custody, while FBTC uses Fidelity Digital Assets. 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. FBTC 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

FBTC is best for:

Fidelity account holders seeking low-cost direct Bitcoin exposure via a regulated spot ETF

21Rates Take

IBIT and FBTC are the two most liquid spot Bitcoin ETFs on the market, backed by BlackRock and Fidelity respectively. Both carry identical expense ratios and offer institutional-grade custody, making them nearly interchangeable for most investors. IBIT edges ahead on raw trading volume and options availability, while FBTC appeals to investors already embedded in the Fidelity ecosystem with seamless brokerage integration. If you hold assets at Fidelity, FBTC is the natural choice. Everyone else will likely default to IBIT for maximum liquidity and options depth.

Reviewed by 21Rates Editorial on Jul 20, 2026

Frequently Asked Questions

What is the difference between IBIT and FBTC?

IBIT is issued by iShares and charges a 0.25% expense ratio, while FBTC is issued by Fidelity at 0.25%. Both are spot Bitcoin ETFs that hold physical Bitcoin. They differ in issuer, custody arrangements (IBIT uses Coinbase Custody; FBTC uses Fidelity Digital Assets), and overall fund scale.

Which has the lower expense ratio, IBIT or FBTC?

Both IBIT and FBTC charge the same 0.25% annual expense ratio.

Which ETF has more assets under management?

IBIT is the larger fund by AUM at $46.5B versus $10.8B for FBTC.

Can I hold both IBIT and FBTC 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.