Data as of .
BTCW vs IBIT: which tracked its coin?
Over the year, BTCW finished 0.40 of a percentage point ahead of Bitcoin and IBIT 0.48 ahead.
ETFIQ Coin Capture Score: IBIT 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
BTCW and IBIT 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, BTCW finished 0.40 of a percentage point ahead of Bitcoin and IBIT 0.48 of a percentage point ahead, so BTCW kept more of what holding the coin gave, by 0.08 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 | |||
|---|---|---|---|---|---|---|
| BTCW | IBIT | BTCW | IBIT | BTCW | IBIT | |
| 1 month | +21.9% | +22.0% | +21.8% | +21.8% | +0.2 pts | +0.2 pts |
| 3 months | +21.4% | +21.4% | +21.5% | +21.5% | −0.2 pts | −0.1 pts |
| 6 months | +8.3% | +8.4% | +8.8% | +8.8% | −0.5 pts | −0.4 pts |
| 1 year | −32.8% | −32.7% | −33.2% | −33.2% | +0.4 pts | +0.5 pts |
| Since each listed | +65.4% | +64.4% | +66.6% | +66.6% | −1.2 pts | −2.2 pts |
| BTCW WisdomTree Bitcoin Fund Holds Bitcoin through a custodian, listed Jan 11, 2024 | IBIT iShares Bitcoin Trust ETF Holds Bitcoin through a custodian, listed Jan 11, 2024 | |
|---|---|---|
| Sponsor | WisdomTree | iShares |
| Holds | Bitcoin | Bitcoin |
| Net assets | not read | $53.4bn, balance sheet of Mar 31, 2026 |
| Sponsor’s fee | 0.25% | 0.25% |
| Fee waiver | the whole fee | reduced to 0.12%, first $5.0 billion of assets |
| 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 | 2 |
| Quoted | on an exchange, every trading day | on an exchange, every trading day |
| Fund returned, 1 year or since launch | −32.8% | −32.7% |
| The coin over the same days | −33.2% | −33.2% |
| Difference, percentage points | +0.4 pts | +0.5 pts |
| Fund returned since it listed | +65.4% | +64.4% |
| Difference since it listed | −1.2 pts | −2.2 pts |
| Price | $81.6 | $43.77 |
BTCW in plain words
BTCW 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 BTCW returned −32.8%. That leaves it 0.40 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. BTCW charges 0.25% a year and still finished 0.4% 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.
IBIT in plain words
IBIT 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 IBIT returned −32.7%. That leaves it 0.48 of a percentage point ahead. IBIT 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, BTCW or IBIT?
- Over the window to Sep 11, 2026, BTCW finished 0.40 of a percentage point ahead of Bitcoin and IBIT 0.48 of a percentage point ahead, so BTCW tracked it more closely, by 0.08 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 BTCW or IBIT 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 BTCW and IBIT?
- Both hold Bitcoin through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. BTCW is sponsored by WisdomTree and listed Jan 11, 2024; IBIT by iShares, listed Jan 11, 2024.
- Which is cheaper, BTCW or IBIT?
- BTCW charges 0.25% a year and IBIT charges 0.25%, so BTCW 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, BTCW against IBIT, data as of Sep 11, 2026. https://etfiq.com/compare/crypto/BTCW-IBIT Free to use with attribution; the underlying files are at Open data.