Data as of Oct 28, 2026.
BTC vs FBTC: Tracking, Returns & Fees
Over the year to Oct 28, 2026, BTC finished 0.09 of a percentage point behind Bitcoin and FBTC 0.20 behind.
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Net assets: $3.2bn on Jun 30, 2026 for Grayscale Bitcoin Mini Trust ETF, and $15.5bn on Sep 30, 2026 for Fidelity Wise Origin Bitcoin Fund.
BTC over 1 year: fund −28.38%, Bitcoin −28.30%, 0.09 pts behind Bitcoin. Data to Oct 28, 2026.
Data to Oct 28, 2026.FBTC over 1 year: fund −28.50%, Bitcoin −28.30%, 0.2 pts behind Bitcoin. Data to Oct 28, 2026.
FBTC over 1 year: fund −28.50%, Bitcoin −28.30%, 0.2 pts behind Bitcoin. Data to Oct 28, 2026.Pair scorecard
BTC costs 0.10 points a year less; their one-year returns differ by 0.1 points.
| Measure | BTC | FBTC |
|---|---|---|
| Return | ||
| Total return, 1 year | −28.4% | −28.5% |
| Against its benchmark | ||
| What it tracks | Bitcoin | Bitcoin |
| Against Bitcoin, same days | 0.1% behind | 0.2% behind |
| Cost and size | ||
| Expense ratio | 0.15% | 0.25% |
| Net assets, BTC as of Jun 30, 2026 and FBTC as of Sep 30, 2026 | $3.2bn | $15.5bn |
| Reports to the SEC on | 10-K, not N-PORT | |
| Holdings | ||
| Holdings in common | not published | |
How much of its coin's move it captured, after costs, ranked against 26 spot crypto trusts with a full year. 100 is best. How it is computed
A percentile among the 26 spot crypto trusts with a full year. Share of the coin's own price growth a holder kept; funds on different coins are ranked together. All crypto ETFs ranked by it →
Side by side
As of Oct 28, 2026. Source: ETFIQ.
Window by window
| Total return | The coin over the same days | Difference, percentage points | ||||
|---|---|---|---|---|---|---|
| Window | BTC | FBTC | BTC | FBTC | BTC | FBTC |
| 1 month | −2.3% | −2.3% | −2.2% | −2.2% | 0.0 pts | −0.1 pts |
| 3 months | +28.3% | +28.1% | +28.3% | +28.3% | 0.0 pts | −0.2 pts |
| 6 months | +7.9% | +7.8% | +7.9% | +7.9% | 0.0 pts | −0.1 pts |
| 1 year | −28.4% | −28.5% | −28.3% | −28.3% | −0.1 pts | −0.2 pts |
| Since each listedNot the same days: BTC Jul 2024 · FBTC Jan 2024 | +24.5% | +73.3% | +25.0% | +76.1% | −0.5 pts | −1.6% of its growth |
The same coin, two trusts
BTC and FBTC 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, BTC finished 0.09 of a percentage point behind Bitcoin and FBTC 0.20 of a percentage point behind, so BTC kept more of what holding the coin gave, by 0.12 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 number. FBTC has 202 more days of record than BTC, and a longer record is a longer window over which a cost can show itself.
BTC and FBTC are built for the same job. How do they differ in cost, holdings and results?
- Cost. BTC charges 0.15% of assets a year and FBTC 0.25%, a gap of 0.10 points.
- What each follows (similar). Both follow Bitcoin.
- One-year total return (similar). Over 1 year to Oct 28, 2026 BTC returned −28.4% and FBTC −28.5% with distributions reinvested, a gap of 0.1 points.
Data as of Oct 28, 2026.
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BTC
BTC 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 Oct 28, 2026, Bitcoin moved −28.3% and BTC returned −28.4%. That leaves it 0.09 of a percentage point behind. 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 number on this page the sponsor does not publish itself. BTC charges 0.15% a year and finished 0.1% behind Bitcoin, so the fee is almost the whole of the difference. 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.
FBTC
FBTC 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 Oct 28, 2026, Bitcoin moved −28.3% and FBTC returned −28.5%. That leaves it 0.20 of a percentage point behind. FBTC charges 0.25% a year and finished 0.2% behind Bitcoin, so the fee is almost the whole of the difference.
Questions people ask
- Which tracked Bitcoin more closely, BTC or FBTC?
- Over the window to Oct 28, 2026, BTC finished 0.09 of a percentage point behind Bitcoin and FBTC 0.20 of a percentage point behind, so BTC tracked it more closely, by 0.12 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 BTC or FBTC 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.
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How this is computed
It is a place in a set, not a rating or a recommendation.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, BTC against FBTC, data as of Oct 28, 2026. https://etfiq.com/compare/crypto/btc-vs-fbtc
ETFIQ. (Oct 28, 2026). BTC against FBTC. Retrieved from https://etfiq.com/compare/crypto/btc-vs-fbtc
[BTC against FBTC (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/crypto/btc-vs-fbtc)
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