A spot bitcoin ETF lets you own bitcoin's price through a normal brokerage account, with no crypto exchange or wallet. The funds hold the same asset, so the annual sponsor fee is the clearest difference. Of the 12 U.S. funds we checked, fees run from 0.14% to 1.50% a year. We ranked them by fee only, using each fund's latest SEC filing and, where we could read it, the issuer's own page.
Checked Oct. 24, 2026
| # | Ticker | Fund | Annual fee | Fee on $10,000, year 1 | Listed on | Notes & source |
|---|---|---|---|---|---|---|
| 1 | MSBT | Morgan Stanley Bitcoin Trust | 0.14% | $14.00 | NYSE Arca | Newest fund here: started operations April 7, 2026. 10-Q filed 2026-08-13 |
| 2 | BTC | Grayscale Bitcoin Mini Trust ETF | 0.15% | $15.00 | NYSE Arca | Issuer page: 0.15% as of 10/23/2026. 10-Q filed 2026-08-04 |
| 3 | EZBC | Franklin Bitcoin ETF | 0.19% | $19.00 | Cboe BZX | — 10-Q filed 2026-08-14 |
| 4 | BITB | Bitwise Bitcoin ETF | 0.20% | $20.00 | NYSE Arca | Issuer page: 0.20%. Launch waiver ended July 10, 2024. 10-Q filed 2026-08-07 |
| 5 | HODL | VanEck Bitcoin ETF | 0.20% | $20.00 | Cboe BZX | Fee waiver on the first $2.5 billion ran through July 31, 2026; 0.20% after that. 10-Q filed 2026-08-13 |
| 6 | ARKB | ARK 21Shares Bitcoin ETF | 0.21% | $21.00 | Cboe BZX | Sponsor plans to rename it 21Shares Bitcoin ETF, ticker TBIT, on Dec. 15, 2026 (8-K, Oct. 22, 2026). 10-Q filed 2026-08-06 |
| 7 | BRRR | CoinShares Bitcoin ETF | 0.25% | $25.00 | Nasdaq | — 10-Q filed 2026-08-12 |
| 8 | BTCO | Invesco Galaxy Bitcoin ETF | 0.25% | $25.00 | Cboe BZX | — 10-Q filed 2026-08-07 |
| 9 | BTCW | WisdomTree Bitcoin Fund | 0.25% | $25.00 | Cboe BZX | — 10-Q filed 2026-08-12 |
| 10 | FBTC | Fidelity Wise Origin Bitcoin Fund | 0.25% | $25.00 | Cboe BZX | Issuer page: 25 basis points. 10-Q filed 2026-08-06 |
| 11 | IBIT | iShares Bitcoin Trust ETF | 0.25% | $25.00 | Nasdaq | Issuer page: 0.25%. No fees waived in the first half of 2026. 10-Q filed 2026-08-06 |
| 12 | GBTC | Grayscale Bitcoin Trust ETF | 1.50% | $150.00 | NYSE Arca | Issuer page: 1.50% (2.00% before Jan. 11, 2024). 10-Q filed 2026-08-04 |
Ranked by the sponsor fee stated in each fund's Form 10-Q for the quarter ended June 30, 2026, checked against later SEC filings through Oct. 22, 2026 and the issuer pages we could read (iShares, Fidelity, Bitwise, Grayscale BTC, Grayscale GBTC). Funds with the same fee are listed alphabetically by ticker. Fees can change; the fund's prospectus is the final word. Brokerage commissions and bid/ask spreads are not included.
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Assumes a flat bitcoin price and today’s fee for the whole period; fees can change. Brokerage commissions and bid/ask spreads are extra.
The trusts say they are treated as grantor trusts for U.S. federal income tax, so income, expenses, gains and losses pass through to shareholders (for example, the iShares and Fidelity 10-Qs). Selling shares for more than you paid is generally a capital gain; see capital gains tax. Ask a tax professional about your situation.
Facts, not investment or tax advice. Ranking is by published sponsor fee only, not a recommendation. No affiliate or partner links on this page. Bitcoin can lose value quickly.
By sponsor fee alone, the Morgan Stanley Bitcoin Trust (MSBT) at 0.14% a year was the lowest of the 12 funds we checked on Oct. 24, 2026, followed by Grayscale Bitcoin Mini Trust (BTC) at 0.15% and Franklin Bitcoin ETF (EZBC) at 0.19%. Grayscale Bitcoin Trust (GBTC) was the highest at 1.50%. Fee is one factor; trading spreads, your broker and tax situation matter too.
It accrues daily and is paid out of the trust's assets, so your shares represent slightly less bitcoin over time. The SEC's investor bulletin notes that even small fees can have a big effect over time. You don't get a separate bill.
Not fully. The SEC says spot bitcoin ETPs are exchange-traded commodity trusts registered under the 1933 and 1934 securities acts, but not under the Investment Company Act of 1940, so they lack that law's valuation and custody rules even if 'ETF' is in the name.
No. Both are Grayscale trusts that hold bitcoin and trade on NYSE Arca, but GBTC charges 1.50% a year and BTC (Grayscale Bitcoin Mini Trust ETF) charges 0.15%, per Grayscale's fund pages and their 10-Q filings.
The trusts say they are treated as grantor trusts for federal income tax, so income, expenses, gains and losses pass through to shareholders. Selling shares at a gain is generally a capital gain; see our capital gains page and ask a tax professional about your situation.
Many brokerages let you buy these exchange-listed shares in an IRA; Fidelity's FBTC page, for example, says you can use a Fidelity brokerage account, including an IRA. Check with your own IRA provider.
No. This page has no affiliate or partner links. The ranking is by published sponsor fee only.
Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.