VanEck vs. Fidelity: Bitcoin ETF Showdown
Key Points
VanEck Bitcoin ETF offers a slightly lower cost of ownership with an expense ratio of 0.20%.
Fidelity Wise Origin Bitcoin Fund provides significantly higher liquidity with $13.4 billion in assets under management.
Both funds hold Bitcoin directly and have experienced nearly identical total returns since their 2024 launches.
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VanEck Bitcoin ETF (NYSEMKT:HODL) offers a lower cost of ownership for spot Bitcoin exposure, while Fidelity Wise Origin Bitcoin Fund (NYSEMKT:FBTC) provides a much larger asset base and higher liquidity.
Both ETFs are designed to track the performance of Bitcoin by holding the digital asset directly in secure institutional custody. This allows investors to gain exposure to cryptocurrency price volatility within a traditional brokerage account without the complexities of managing private keys, digital wallets, or navigating the security risks of unregulated cryptocurrency exchanges.
Snapshot (cost & size)
| Metric | HODL | FBTC |
|---|---|---|
| Issuer | VanEck | Fidelity |
| Share price | $16.96 (as of 7/1/26) | $52.23 (as of 7/1/26) |
| Expense ratio | 0.20% | 0.25% |
| 1-yr return (as of 7/1/26) | (43.1%) | (43.2%) |
| Dividend yield | n/a | n/a |
| AUM | $1 billion | $13.4 billion |
Performance & risk comparison
| Metric | HODL | FBTC |
|---|---|---|
| Max drawdown (2 yr) | (53%) | (53%) |
| Growth of $1,000 over 2 years (total return) | $949 | $945 |
What's inside
The Fidelity Wise Origin Bitcoin Fund seeks to track the performance of Bitcoin using price feeds from various eligible spot markets to create a composite value. Bitcoin comprises 100% of this portfolio’s holdings. The fund launched in 2024. This fund provides a highly liquid way for investors to trade the cryptocurrency, with its index calculated every 15 seconds based on a volume-weighted median price methodology. All underlying assets are held by a dedicated custodian to ensure institutional-grade security standards.
The VanEck Bitcoin ETF is a passively managed trust that also aims to replicate the market performance of Bitcoin, net of its specific operational expenditures. It also launched in 2024 and lists Bitcoin as its only position. The fund functions as a straightforward entity that does not aim to achieve returns surpassing the underlying price movements of the cryptocurrency. This vehicle serves as a direct entry point into the digital asset space within a familiar and regulated ETF wrapper, prioritizing cost efficiency for long-term holders.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
If you’ve been following the cryptocurrency market over the last year, you already know that Bitcoin has had a rough go of things recently. The original and once-high-flying crypto has stumbled lately, dropping more than 40% over the last year. And because HODL and FBTC both track the price movements of Bitcoin, they’ve returned similar results for investors.
Yet institutional adoption has lent credibility to Bitcoin, and ETFs give investors a way to participate in Bitcoin’s price moves without holding the digital asset directly, which can be a little complicated. If you’re choosing between HODL and FBTC, you’re likely weighing HODL’s slightly lower expense ratio against FBTC’s much larger assets under management. If you’re looking to maximize your total returns, HODL’s lower fees may be a deciding factor for you. Plus, VanEck has waived the fee for the first $2.5 billion of the trust’s assets through July 31, so there’s a potential for even greater short-term savings.
You’ll need to be prepared for significant volatility, as these funds’ recent activity shows, and keep your position to a smaller, speculative allocation of a diversified portfolio.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
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