IBIT vs FBTC: BlackRock vs Fidelity in the Bitcoin ETF Race
Both IBIT and FBTC hold actual Bitcoin at the same 0.25% fee. They launched together in January 2024. The differences are about issuer trust and ecosystem, not performance.
IBIT (iShares Bitcoin Trust by BlackRock) and FBTC (Fidelity Wise Origin Bitcoin Fund) are two of the most important financial products launched in 2024. Both hold actual Bitcoin rather than futures, as spot ETFs approved by the SEC in January 2024. Both charge 0.25% after their introductory fee waivers. IBIT has gathered more assets ($60B+ vs $25B+) primarily because BlackRock's institutional distribution network is the largest on earth. FBTC is backed by Fidelity's own custody infrastructure, meaning Fidelity directly holds the Bitcoin rather than using a third-party custodian. For Fidelity investors, FBTC integrates seamlessly. For everyone else, IBIT's liquidity advantage is real. Either represents a legitimate, low-cost way to add Bitcoin exposure to a traditional portfolio.
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 FBTC: Key Facts Side by Side
| Metric | IBIT | FBTC |
|---|---|---|
| Fund Name | iShares Bitcoin Trust ETF | Fidelity Wise Origin Bitcoin Fund |
| Issuer | iShares | Fidelity |
| Tracks Index | Bitcoin | Bitcoin |
| Expense Ratio | 0.25% | 0.25% |
| Cost per $10K/yr | $25.00 | $25.00 |
| AUM | $67.1B | $15.5B |
| Holdings | 1 | 1 |
| Inception | 2024 | 2024 |
| 1-Year Return | -25.82% | -25.81% |
| 3-Year Return | +0.00% | +0.00% |
| 5-Year Return | +0.00% | +0.00% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.01% |
AUM and returns updated Oct 14, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.
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📊 IBIT vs FBTC: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- already use iShares and prefer staying within one fund family
- already use Fidelity 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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