IBIT vs ARKB: Same Bitcoin, Different Fee Schedule
Both funds hold spot bitcoin with a qualified custodian. The exposure is identical. What separates them is a four basis point listed fee gap, a temporary waiver that expires in October 2026, and a very large difference in size.
IBIT (iShares Bitcoin Trust) holds roughly $45B and charges 0.25%. ARKB (ARK 21Shares Bitcoin ETF) holds about $2.1B and lists 0.21%. On paper ARKB is cheaper by four basis points, which is $4 a year per $10,000. The wrinkle is that 21Shares waived ARKB's entire management fee through October 8, 2026, so the effective cost today is zero and reverts to 0.21% after that date. Any fee comparison you read is therefore only valid with a date attached. Structurally the funds are near-identical: both hold spot bitcoin rather than futures, both use a qualified custodian, and both are grantor trusts taxed as bitcoin rather than as fund shares. IBIT is roughly 20 times larger, which shows up as tighter bid-ask spreads and a far deeper options market. For a small buy-and-hold position the fee gap is trivial either way; for size or options, liquidity is the differentiator.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
Both funds trade commission-free at every major brokerage. Where to buy them →
📋 IBIT vs ARKB: Key Facts Side by Side
| Metric | IBIT | ARKB |
|---|---|---|
| Fund Name | iShares Bitcoin Trust ETF | ARK 21Shares Bitcoin ETF |
| Issuer | BlackRock | ARK 21Shares |
| Tracks Index | Spot bitcoin | Spot bitcoin |
| Expense Ratio | 0.25% | 0.21% ✓ |
| Cost per $10K/yr | $25.00 | $21.00 |
| AUM | $61.4B | $2.7B |
| Holdings | 1 | 1 |
| Inception | 2024 | 2024 |
| 1-Year Return | -23.00% | -27.39% |
| 3-Year Return | — | — |
| 5-Year Return | — | — |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.04% |
Expense ratio, AUM, and returns updated Sep 22, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
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📊 IBIT vs ARKB: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- already use BlackRock and prefer staying within one fund family
- want the lowest fees: saves ~$4/yr per $10K vs IBIT
- already use ARK 21Shares and prefer staying within one fund family
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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