Data as of .
BITB vs BRRR: which tracked its coin?
Over the year, BITB finished 0.49 of a percentage point ahead of Bitcoin and BRRR 0.52 ahead.
ETFIQ Coin Capture Score: BRRR scores higher
How much of what holding the coin gave did a holder of the fund keep?
A percentile among the 24 spot crypto ETPs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All crypto ETFs ranked by it · How it is computed
The same coin, two trusts
BITB and BRRR hold the same asset. Both are 1933 Act trusts holding Bitcoin through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the same days, BITB finished 0.49 of a percentage point ahead of Bitcoin and BRRR 0.52 of a percentage point ahead, so BITB kept more of what holding the coin gave, by 0.03 of a percentage point. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one figure.
Performance, window by window
| Window | Total return | The coin over the same days | Difference, percentage points | |||
|---|---|---|---|---|---|---|
| BITB | BRRR | BITB | BRRR | BITB | BRRR | |
| 1 month | +22.0% | +22.0% | +21.8% | +21.8% | +0.2 pts | +0.2 pts |
| 3 months | +21.5% | +21.5% | +21.5% | +21.5% | 0.0 pts | 0.0 pts |
| 6 months | +8.5% | +8.5% | +8.8% | +8.8% | −0.4 pts | −0.4 pts |
| 1 year | −32.7% | −32.6% | −33.2% | −33.2% | +0.5 pts | +0.5 pts |
| Since each listed | +64.2% | +63.9% | +66.6% | +66.6% | −2.4 pts | −1.6% of its growth |
| BITB Bitwise Bitcoin ETF Holds Bitcoin through a custodian, listed Jan 11, 2024 | BRRR CoinShares Bitcoin ETF Holds Bitcoin through a custodian, listed Jan 11, 2024 | |
|---|---|---|
| Sponsor | Bitwise | CoinShares |
| Holds | Bitcoin | Bitcoin |
| Net assets | $2.1bn, balance sheet of Jun 30, 2026 | $342m, balance sheet of Jun 30, 2026 |
| Sponsor’s fee | 0.20% | 0.25% |
| Fee waiver | reduced to 0.20%, until July 10, 2024 | the whole fee |
| Staking | the chain has none | the chain has none |
| Listed | Jan 11, 2024 | Jan 11, 2024 |
| Days since listing | 974 days | 974 days |
| Days it has traded | 669 | 669 |
| Days it closed unchanged | 2 | 7 |
| Quoted | on an exchange, every trading day | on an exchange, every trading day |
| Fund returned, 1 year or since launch | −32.7% | −32.6% |
| The coin over the same days | −33.2% | −33.2% |
| Difference, percentage points | +0.5 pts | +0.5 pts |
| Fund returned since it listed | +64.2% | +63.9% |
| Difference since it listed | −2.4 pts | −1.6% of its growth |
| Price | $41.94 | $21.7873 |
BITB in plain words
BITB holds Bitcoin through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Sep 11, 2026, Bitcoin moved −33.2% and BITB returned −32.7%. That leaves it 0.49 of a percentage point ahead. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only figure on this page the sponsor does not publish itself. BITB charges 0.20% a year and still finished 0.5% ahead of Bitcoin, which a fee cannot do on its own. On a chain with nothing to stake, a fund cannot earn its way past the asset it holds: what moved is what the market paid for the shares. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Bitcoin it custodies.
BRRR in plain words
BRRR holds Bitcoin through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the year to Sep 11, 2026, Bitcoin moved −33.2% and BRRR returned −32.6%. That leaves it 0.52 of a percentage point ahead. BRRR charges 0.25% a year and still finished 0.5% ahead of Bitcoin, which a fee cannot do on its own.
Questions people ask
- Which tracked Bitcoin more closely, BITB or BRRR?
- Over the window to Sep 11, 2026, BITB finished 0.49 of a percentage point ahead of Bitcoin and BRRR 0.52 of a percentage point ahead, so BITB tracked it more closely, by 0.03 of a percentage point. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin, all together.
- Do BITB or BRRR pay a staking yield?
- Bitcoin is a proof of work chain, so there is nothing to stake and no fund holding it can pay a staking yield.
- What is the difference between BITB and BRRR?
- Both hold Bitcoin through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. BITB is sponsored by Bitwise and listed Jan 11, 2024; BRRR by CoinShares, listed Jan 11, 2024.
- Which is cheaper, BITB or BRRR?
- BITB charges 0.20% a year and BRRR charges 0.25%, so BITB is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BITB against BRRR, data as of Sep 11, 2026. https://etfiq.com/compare/crypto/BITB-BRRR Free to use with attribution; the underlying files are at Open data.