Data as of Oct 28, 2026.
BTCW vs OBTC: Tracking, Returns & Fees
Against Bitcoin, BTCW finished −0.3% and OBTC +5.0%, once both returns are compounded.
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Net assets: $162m on Sep 11, 2026 for WisdomTree Bitcoin Fund, and $55m on Jun 30, 2026 for Osprey Bitcoin Trust.
BTCW over 1 year: fund −28.50%, Bitcoin −28.30%, 0.21 pts behind Bitcoin. Data to Oct 28, 2026.
Data to Oct 28, 2026.OBTC over 1 year: fund −24.69%, Bitcoin −28.30%, 5.03% ahead of Bitcoin, compounded. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
BTCW costs 0.24 points a year less; their one-year returns differ by 3.8 points.
| Measure | BTCW | OBTC |
|---|---|---|
| Return | ||
| Total return, 1 year | −28.5% | −24.7% |
| Against its benchmark | ||
| What it tracks | Bitcoin | Bitcoin |
| Against Bitcoin, same days | 0.2% behind | 5.0% ahead of |
| Cost and size | ||
| Expense ratio | 0.25% | 0.49% |
| Net assets, BTCW as of Sep 11, 2026 and OBTC as of Jun 30, 2026 | $162m | $55m |
| 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 | BTCW | OBTC | BTCW | OBTC | BTCW | OBTC |
| 1 month | −2.3% | −2.4% | −2.2% | −2.2% | −0.1 pts | −0.2 pts |
| 3 months | +28.2% | +27.8% | +28.3% | +28.3% | −0.1 pts | −0.5 pts |
| 6 months | +7.7% | +7.4% | +7.9% | +7.9% | −0.2 pts | −0.5 pts |
| 1 year | −28.5% | −24.7% | −28.3% | −28.3% | −0.2 pts | +5.0% of its growth |
| 3 years | – | +190.1% | – | +141.9% | – | +19.9% of its growth |
| Since each listedNot the same days: BTCW Jan 2024 · OBTC Feb 2021 | +74.4% | −47.8% | +76.1% | +71.2% | −1.7 pts | −69.5% of its growth |
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The same coin, two trusts
BTCW and OBTC 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 days each has traded, BTCW finished 0.21 of a percentage point behind Bitcoin and OBTC 5.0% ahead once both returns are compounded, but the two are not stated in the same unit, so neither number is set against the other here. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one number. OBTC has 1,063 more days of record than BTCW, and a longer record is a longer window over which a cost can show itself.
BTCW
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 Oct 28, 2026, Bitcoin moved −28.3% and BTCW returned −28.5%. That leaves it 0.21 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. BTCW charges 0.25% a year and finished 0.2% 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.
Doing it would read +3.6 pts, which is correct and describes nothing a holder can act on: what the number above states is the gap between the two growth factors, so a fund that kept 105% of what holding the coin gave says exactly that.
OBTC 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 OBTC returned −24.7%. That leaves it 5.0% ahead once both returns are compounded. Over a window this long the two returns cannot simply be subtracted. OBTC charges 0.49% a year and finished 5.0% 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.
Questions people ask
- Which tracked Bitcoin more closely, BTCW or OBTC?
- Over the days each has traded, BTCW finished 0.21 of a percentage point behind Bitcoin and OBTC 5.0% ahead once both returns are compounded. Those are not set against each other here, because the two are not stated in the same unit, so neither is nearer its coin than the other on this page. Each difference carries 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.
- Do BTCW or OBTC 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, BTCW against OBTC, data as of Oct 28, 2026. https://etfiq.com/compare/crypto/btcw-vs-obtc
ETFIQ. (Oct 28, 2026). BTCW against OBTC. Retrieved from https://etfiq.com/compare/crypto/btcw-vs-obtc
[BTCW against OBTC (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/crypto/btcw-vs-obtc)
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