iShares Bitcoin Trust ETF Tops Fidelity in Assets Under Management
Key Points
iShares Bitcoin Trust ETF and Fidelity Wise Origin Bitcoin Fund both charge an identical 0.25% expense ratio for spot Bitcoin exposure.
iShares Bitcoin Trust ETF maintains a significantly larger assets under management total at $44.9 billion compared to the Fidelity fund.
Both funds launched in 2024 and track the price of Bitcoin with nearly identical volatility and return profiles.
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Both the iShares Bitcoin Trust ETF (NASDAQ:IBIT) and Fidelity Wise Origin Bitcoin Fund (NYSEMKT:FBTC) provide direct exposure to the price of Bitcoin without the need for investors to manage digital wallets or private keys. These funds simplify crypto ownership by integrating it into standard brokerage accounts, making them accessible tools for tracking the largest digital asset by market capitalization. The funds are nearly identical in cost and performance, though IBIT offers greater liquidity through a larger asset base.
Snapshot (cost & size)
| Metric | FBTC | IBIT |
|---|---|---|
| Issuer | Fidelity | iShares |
| Expense ratio | 0.25% | 0.25% |
| 1-yr return (as of 6/23/26) | (41.8%) | (41.8%) |
| Dividend yield | None | None |
| Beta | 2.02 | 2.03 |
| AUM | $13.4 billion | $44.9 billion |
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months.
Both ETFs carry an expense ratio of 0.25%, making them equally cost-effective options for spot Bitcoin exposure. Because these funds hold digital currency rather than dividend-paying stocks, investors pay the same flat fee for identical market access.
Performance & risk comparison
| Metric | FBTC | IBIT |
|---|---|---|
| Max drawdown (2 yr) | (52.10%) | (52.10%) |
| Growth of $1,000 over 2 years (total return) | $966 | $965 |
What's inside
The iShares Bitcoin Trust ETF is engineered to generally replicate the market price performance of Bitcoin by holding the asset directly. Launched in 2024, the fund manages a holdings count of one, consisting entirely of the digital currency. Because Bitcoin does not yield interest or dividends, IBIT does not pay a trailing-12-month dividend. It reports a beta of 2.03, reflecting its high sensitivity to broader market movements compared to traditional equities.
The Fidelity Wise Origin Bitcoin Fund follows a similar mandate, seeking to track the price of Bitcoin through a volume-weighted median price methodology across eligible spot markets. Also launched in 2024, it does not pay a trailing-12-month dividend and shows a similar risk profile with a beta of 2.02.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
If you’re interested in investing in the oldest and most well-established cryptocurrency but don’t want to open a crypto-specific account or deal with storage challenges, a spot Bitcoin ETF is a good choice. These funds hold Bitcoin, manage the custodial responsibilities, and value the holdings based on the day’s market price. Because their holdings are identical, as are their expense ratios, there isn’t too much that separates one of these Bitcoin ETFs from the other.
Size is one big differentiator, with IBIT holding nearly double the assets under management of FBTC. Larger funds are generally seen as more durable, as their higher AUMs reduce the risk of fund closure and ensure more liquidity. If you’re simply looking to add some institutional Bitcoin exposure to your portfolio, that single difference may make IBIT the stronger choice.
Many Wall Street professionals now recommend about a 5% allocation to cryptocurrencies for most portfolios, a vote of confidence that suggests crypto may not be just a passing fad. The institutional adoption of the coin and the availability of ETFs further support its case. Still, the long-term investment thesis for cryptocurrency, even Bitcoin, remains unproven, so investors in the space should keep an eye on market and regulatory developments.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and iShares Bitcoin Trust. The Motley Fool has a disclosure policy.
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