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 — not 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.
📋 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 | $43.2B | $10.2B |
| Holdings | 1 | 1 |
| Inception | 2024 | 2024 |
| 1-Year Return | -46.86% | -46.89% |
| 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% |
Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
📊 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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❓ IBIT vs FBTC — Frequently Asked Questions
New to ETF investing? See answers to the most common ETF questions →