Crypto ETF · Tool Face-Off

Fidelity Bitcoin ETF (FBTC) vs Bitwise Bitcoin ETF (BITB)

Quick answer

Both FBTC and BITB are solid spot Bitcoin ETFs approved in Jan 2024, but Fidelity's brand muscle and self-custody model give FBTC a slight edge for most investors. Bitwise wins on crypto-native credibility and donates 10% of profits to open-source Bitcoin dev.

Our pick

Fidelity Bitcoin ETF (FBTC)

Wall Street giant brings Bitcoin to your brokerage account

4.6★

Bitwise Bitcoin ETF (BITB)

Crypto-native asset manager with a conscience (and lower fees)

4.2★

Expense Ratio

0.25%

0.20%

Fee Waiver (Intro Period)

0.00% on first $1B AUM (expired)

Assets Under Management

~$10B+ AUM

~$2B+ AUM

Average Daily Volume

Very high (top 3 spot BTC ETF)

Moderate (top 5 spot BTC ETF)

Bitcoin Custody

Fidelity Digital Assets (self-custody)

Coinbase Custody

Issuer Founded

Fidelity est. 1946

Bitwise est. 2017

Open-Source BTC Dev Donation

10% of profits donated

Ticker Exchange

CBOE BZX

NYSE Arca

In-Kind Redemptions

Cash only (currently)

Minimum Investment

1 share (~price of BTC slice)

Parent Company Other Products

Broad brokerage, mutual funds, 401k

Multiple crypto index funds & ETFs

Bid-Ask Spread

Very tight (high volume)

Tight (slightly wider than FBTC)

Fidelity Bitcoin ETF (FBTC)

Accessibility★★★★★

Custody Model★★★★★

Expense Ratio★★★★½

Liquidity & Volume★★★★★

Crypto-Native Credibility★★★☆☆

Issuer Trust & Track Record★★★★★

Bitwise Bitcoin ETF (BITB)

Accessibility★★★★☆

Custody Model★★★★☆

Expense Ratio★★★★★

Liquidity & Volume★★★½☆

Crypto-Native Credibility★★★★★

Issuer Trust & Track Record★★★½☆

Worth knowing

Both ETFs launched on January 11, 2024 alongside 9 other spot Bitcoin ETFs — the most competitive ETF launch day in history.
FBTC is one of the few spot Bitcoin ETFs where the issuer also acts as its own custodian via Fidelity Digital Assets, removing third-party custody risk.
BITB's 10% of profits pledge to open-source Bitcoin development is unique among all spot Bitcoin ETFs — no competitor does this.
FBTC surpassed $10B AUM faster than almost any ETF in history, riding Fidelity's massive existing client base.
Both ETFs hold actual Bitcoin 1:1 — they are not futures-based products, so you get real BTC price exposure.

Bitwise actually filed for a Bitcoin ETF with the SEC back in 2019 — they got rejected so many times that by the time approval came in 2024, their legal team probably had the filing memorized.

If you want

You want maximum liquidity and tightest spreads

FBTC's massive AUM and volume means you can move large positions without slippage — ideal for active traders.

→ Pick Fidelity Bitcoin ETF (FBTC)

If you want

You want the lowest ongoing cost

BITB's 0.20% expense ratio beats FBTC's 0.25% — small now, but compounds meaningfully over a decade.

→ Pick Bitwise Bitcoin ETF (BITB)

If you want

You care about Bitcoin's long-term ecosystem health

Bitwise donates 10% of ETF profits to Bitcoin open-source developers — your investment literally funds the network.

→ Pick Bitwise Bitcoin ETF (BITB)

If you want

You already use Fidelity for your IRA or 401k

FBTC integrates seamlessly into the Fidelity ecosystem, making tax-advantaged Bitcoin exposure nearly frictionless.

→ Pick Fidelity Bitcoin ETF (FBTC)

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