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SEC Finally Approves Bitcoin ETF Finally. Which One is Best?

By Evan Jones01/15/2024

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The news has come and gone but spot Bitcoin ETFs are here to stay. Though Bitcoin didn’t experience a huge price jump when the ETFs went live, they have certainly spurred optimism for the industry. However, with 11 spot Bitcoin ETFs approved, you may be wondering which is best.

We’ll break down all 10 ETFs and their fees, before discussing what’s next for crypto ETFs. 

Comparing Bitcoin ETFs

Below we’ll note all the current spot Bitcoin ETFs that are available on the market. For each we’ll also note their management fee, the management company, and the amount of Bitcoin they own if currently available. It’s worth noting that while Hashdex’s ETF was approved, its offering is still a futures ETF and it won’t be included below as a result. The best ETF is more of a subjective thing, but lower fees are better.

iShare Bitcoin Trust (IBIT)

BlackRock’s spot Bitcoin ETF. It trades under the ticker of IBIT and has a 0.25% management fee. The ETF currently holds over 11k BTC.

Grayscale Bitcoin Trust (GBTC)

Grayscale’s GBTC has been converted into an open-ended ETF with a 1.5% fee, which is the highest on the list. They are also the largest BTC holder in the world, with over 615k Bitcoins.

Bitwise Bitcoin Trust (BITB)

Bitwise’s BITB product has the lowest fee on this list with 0.2%. They hold over 5,000 BTC though the exact amount is unknown.

ARK 21Shares Bitcoin ETF (ARKB)

Cathie Wood’s ARK Invest and 21 Shares have issued their ARKB ETF. It has the second lowest fee on this list with 0.21%. 

Fidelity Wise Origin Bitcoin Trust (FBTC)

Fidelity’s spot Bitcoin ETF trades under FBTC and has a 0.25% fee. Fidelity holds over 5,200 BTC for this trust. 

VanEck Bitcoin Trust (HODL)

VanEck’s spot Bitcoin ETF trades under the ticker of HODL and they also have a 0.25% fee. They are quite transparent with their holdings which are over 1,600 BTC.

Franklin Bitcoin ETF (EZBC)

Franklin Templeton’s spot Bitcoin ETF trades under the ticker of EZBC, and they have a fee of 0.29%. They hold over 1,100 BTC according to their web portal.

WisdomTree Bitcoin Trust (BTCW)

WisdomTree’s spot Bitcoin ETF trades under the BTCW ticker with a 0.3% fee. There is currently no estimation of their BTC holdings. 

Invesco Galaxy Bitcoin ETF (BTCO)

Invesco and Galaxy collaborated for their BTCO spot Bitcoin ETF. There is a 0.39% fee and their holdings page is being updated. 

Valkyrie Bitcoin Fund (BRRR)

Valkyrie has launched their spot Bitcoin ETF with a ticker of BRRR and a fee of 0.49%. They hold over 1,100 BTC according to their website.  

What Crypto Asset Will Get an ETF Next?

Ethereum (ETH) is the most obvious choice as the next crypto headed for a spot ETF. It is the second largest digital asset by market cap, and much like with Bitcoin, Grayscale owns a large holding of Ethereum in a closed-ended fund that they’d likely like to convert in the way they did their Bitcoin one. 

It’s also the only other asset to be declared not a security by the SEC, meaning it has the clearest path to approval as a spot ETF product (there are already futures available for ETH). 

Once an ETH ETF is approved it will likely start the next wave of ETF applications for other assets within the top 15-25 by market cap. If and when that day comes, it will be likely that cryptocurrencies will be far more mainstream than they currently are. 

Article tags

Beginner
cryptocurrency
etf
guide
Evan Jones

Author

Evan entered the crypto scene in 2017, attracted to the many disruptive possibilities that blockchain could have on current world systems. He has a keen interest in decentralized services, payment processing, and viable NFT use cases such as event ticketing. He spends his days writing with his dog Kobe under his feet, if not on his lap.

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