IBIT vs FBTC: The Two Dominant Spot Bitcoin ETFs Compared
IBIT and FBTC are the two largest spot Bitcoin ETFs after the historic SEC approval in January 2024. IBIT (BlackRock/iShares) quickly grew to become the largest Bitcoin fund in the world. FBTC (Fidelity) is the second largest and offers self-custody of Bitcoin through Fidelity Digital Assets. Both charge 0.25% TER and provide direct exposure to spot Bitcoin prices.
Key Differences
- Same TER: both charge 0.25% (after initial fee waiver periods ended)
- IBIT has the largest AUM among spot Bitcoin ETFs — it became the fastest ETF to reach $10B in history
- FBTC uses Fidelity's own custody solution (Fidelity Digital Assets); IBIT uses Coinbase Custody
- Both track the spot Bitcoin price closely — tracking error differences are negligible
- IBIT has higher trading volume and tighter spreads; FBTC benefits from Fidelity's ecosystem integration
Live Comparison
Interactive comparison with real data. Toggle dividends and tax settings to see the full picture.
Bottom Line
Both are excellent choices for spot Bitcoin exposure. IBIT edges ahead on liquidity and AUM. FBTC may appeal to investors who prefer Fidelity's self-custody model over Coinbase. If you have a Fidelity account, FBTC is convenient; otherwise, IBIT's deeper liquidity makes it the default option.