IQ

OBTC Osprey Bitcoin Trust

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$26.08
+1.0% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Oct 28, 2026, OBTC lost 24.7%, against −28.3% for bitcoin.

Why did OBTC return −24.7% against Bitcoin’s −28.3%?How closely does OBTC track Bitcoin?What does OBTC cost to hold and to trade?
A spot Bitcoin trust. It holds the coin and trades like a share.Osprey ↗Expense ratio 0.49%Fund assets $55m on Jun 30, 2026First traded Feb 12, 2021Benchmark BitcoinSEC filings ↗

Promise check: DeliveredOver the year to Oct 28, 2026, OBTC returned −24.7% against −28.3% for Bitcoin. Before its 0.49% fee, it finished 5.52 points ahead of Bitcoin.

Compare with…Trading costsPut to the committeeaskIQ about OBTCAdd to portfolioAlerts

OBTC risk and return scorecard

vs Bitcoin

Not measured: no price history kept for OBTC.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

What you earned

OBTC −2.4%, Bitcoin −2.2%: total return over one month to Oct 28, 2026.
OBTC−2.4%
Bitcoin−2.2%
OBTC +27.8%, Bitcoin +28.3%: total return over three months to Oct 28, 2026.
OBTC+27.8%
Bitcoin+28.3%
OBTC +7.4%, Bitcoin +7.9%: total return over six months to Oct 28, 2026.
OBTC+7.4%
Bitcoin+7.9%
OBTC −7.4%, Bitcoin −6.9%: total return over the year to Oct 28, 2026.
OBTC−7.4%
Bitcoin−6.9%
OBTC −24.7%, Bitcoin −28.3%: total return over one year to Oct 28, 2026.
OBTC−24.7%
Bitcoin−28.3%
OBTC +190.1%, Bitcoin +141.9%: total return over three years to Oct 28, 2026.
OBTC+190.1%
Bitcoin+141.9%
OBTC +45.7%, Bitcoin +30.3%: total return over five years to Oct 28, 2026.
OBTC+45.7%
Bitcoin+30.3%
OBTC −47.8%, Bitcoin +71.2%: total return since launch to Oct 28, 2026.
OBTC−47.8%
Bitcoin+71.2%
askIQ: why did OBTC return −24.7% against Bitcoin’s −28.3%? ↗

Did it track the coin?

Spot Bitcoin
−24.7%
Total return, 1 year
Report
−28.3%
Bitcoin over the same days
Report
+5.0%
Difference against Bitcoin, compounded
Report
1,434
Days it has traded
Report
askIQ: how closely does OBTC track Bitcoin? ↗

More on OBTC

Every number below is on this page. Open what you need.

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Price, 1 year

$26.08+1.0%1 day, priceClose, Oct 28, 2026

Price only. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Last checked Oct 28, 2026. Report a data error

OBTC returns by window: total return, cash paid and price change
WindowTotal returnBitcoinDifference, percentage points
1M Sep 28 – Oct 28, 2026−2.4%−2.2%−0.2 pts
3M Jul 29 – Oct 28, 2026+27.8%+28.3%−0.5 pts
6M Apr 29 – Oct 28, 2026+7.4%+7.9%−0.5 pts
YTD Dec 31, 2025 – Oct 28, 2026−7.4%−6.9%−0.5 pts
1Y Oct 28, 2025 – Oct 28, 2026−24.7%−28.3%+5.0% of its growth
3Y Oct 27, 2023 – Oct 28, 2026+190.1%+141.9%+19.9% of its growth
5Y Oct 29, 2021 – Oct 28, 2026+45.7%+30.3%+11.8% of its growth
Since launch Feb 12, 2021 – Oct 28, 2026−47.8%+71.2%−69.5% of its growth
Since launch, annualised Feb 12, 2021 – Oct 28, 2026−10.8%––

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where every fund in this set sits

How much of what holding the coin gave did a holder of the fund keep?

Share of the coin's growth it kept
LTCN 89.0%GBTC 98.6%ETHE 99.1%HBR 99.1%LTCC 99.1%ETHA 99.6%ETHV 99.6%QETH 99.6%BRRR 99.7%, and 11 more at this point: BTCO 99.7%, BTCW 99.7%, EZBC 99.7%, FBTC 99.7%, FETH 99.7%, ARKB 99.8%, BITB 99.8%, EZET 99.8%, IBIT 99.8%, BTC 99.9%, ETHW 99.9%HODL 100.0%TETH 100.5%ETH 101.7%BSOL 105.9%GXLM 152.3%OBTC 105.0%OBTC 105.0%89.0%152.3%
89.0% to 152.3% across 26

That is the share of the 26 spot crypto trusts with a full year sitting at or below OBTC.

Share of the coin's own price growth a holder kept; funds on different coins are ranked together. Where the fund sits in this set, not a rating. Do not average it with another category's score.

90.4
IQ Crypto ScoreETFIQ Coin Capture Score3rd of 26 · Oct 28, 2026
1.9 · lowest of 26 spot crypto trusts with a full year98.1 · highest

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

OBTC kept 105.0% of what holding Bitcoin gave over the same days.

share of the coin's growth it kept105.0% · 90th pct
All 26 ranked by this score →

OBTC key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$33.30 on Oct 31, 2025
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$18.83 on Jun 30, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$26.08, 50% of the way from the low to the high
Beta to its benchmark, 1 year (ETFIQ)1.00, against bitcoin
R-squared, the same days (ETFIQ)0.98
Beta and R-squared measured over251 daily total returns, Oct 29, 2025 to Oct 28, 2026
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Oct 28, 2026
Trading · OBTCas of Oct 28, 2026
·
Not scored0 of 6 measured · Oct 28, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
How to tradeSpread not read.
Full trading page: components, premium history, dealers →

About OBTC

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.
SponsorOsprey
HoldsBitcoinReport
Sponsor’s fee (424B3)0.49%
Net assets (10-Q balance sheet, as of Jun 30, 2026)$55mReport
Stakingthe chain has none, so no fund holding it can pay a staking yield
First tradedFeb 12, 2021
Days traded1,434
Days it closed unchanged18
Quotedon an exchange, every trading day
Price$26.08
Reports to the SEC on10-K, not N-PORT
How we measure
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. 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. 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. 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.
Fund closes and coin closes from Tiingo, read at the same two dates. ETFIQ calculation. Method
IQ Investment Committee on OBTC

12 seats on OBTC, as of Oct 28, 2026: 1 Supports, 1 Mixed, 3 Challenges, 6 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianDoes not apply
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatSupports
Put OBTC to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about OBTC

Does OBTC track Bitcoin?
Over the year to Oct 28, 2026 it returned −24.7% against Bitcoin’s −28.3%, which leaves it 5.0% ahead once both returns are compounded. That difference carries the fee, the custody cost and the market’s pricing of the shares, and ETFIQ computes it from the fund’s own closes and the coin’s own closes over the same two dates.
Does OBTC stake?
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 OBTC?
Osprey Bitcoin Trust, a spot Bitcoin trust sponsored by Osprey, first traded Feb 12, 2021. It holds the coin through a custodian rather than futures on it or shares in companies that own it.
Sources and dates
Prices, OBTC and BitcoinPrices, Tiingo end of day ↗
Fee, 0.49%Sponsor’s fee, read from the 424B3 filed Sep 18, 2026 ↗
Net assets, $55mSEC 10-Q balance sheet · Jun 30, 2026
All fund filingsFilings on SEC EDGAR ↗
IssuerOsprey website ↗
Sponsor’s fee, read from the 424B3 filed Sep 18, 2026 ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, OBTC, crypto ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/obtc

The tracking bar for OBTC, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Tracking difference
The fund’s total return minus the coin’s over exactly the same days, in percentage points. The fee, the custody cost, the creation and redemption friction and whatever the market paid for the shares, all of it, in one number.
Spot
The fund holds the coin itself, through a custodian, rather than futures on it or shares in companies that own it. Only spot funds are in this category; the others are measured where they belong.
Sponsor
Who runs the fund. Most spot crypto ETFs are 1933 Act trusts rather than registered investment companies, so they have a sponsor rather than an adviser, and file a 10-K rather than an N-PORT.
Thinly quoted
A fund whose price sat unchanged on more than one trading day in twenty. Its quoted return is what somebody paid on the days anyone traded, which is not the same thing as what the fund did, so ETFIQ shows it and does not rank it against funds that trade.
Staking
Only proof of stake coins can be staked, so it exists for ether and Solana funds and cannot exist for a bitcoin one. Where a fund stakes, the yield and the sponsor’s share of it are terms in its own filings.
Full definitions: crypto ETFs vocabulary page. →
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OBTC: OBTC over 1 year: fund −24.69%, Bitcoin −28.30%, 5.03% ahead of Bitcoin, compounded. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/obtc"><img src="https://etfiq.com/assistant/api/embed/crypto/obtc.svg" alt="OBTC: OBTC over 1 year: fund −24.69%, Bitcoin −28.30%, 5.03% ahead of Bitcoin, compounded. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">OBTC: OBTC over 1 year: fund −24.69%, Bitcoin −28.30%, 5.03% ahead of Bitcoin, compounded. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/obtc">ETFIQ</a></figcaption>
</figure>

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Snapshot, Oct 28, 2026. More on the tabs above.