26 Bitcoin ETFs and Their Fees, Promotions and Holdings
Learn about the 12 spot Bitcoin ETFs available today — and the 14 Bitcoin strategy ETFs that offer indirect exposure to Bitcoin.
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Updated · 2 min read
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In December 2024, the price of Bitcoin broke above $100,000 for the first time ever. It has been volatile in 2025, and has sometimes dipped below the six-figure mark, but it has also hit new highs, such as crossing the $124,000 line for the first time in August.
Some brokerage accounts don't allow users to invest directly in cryptocurrency. Many retirement accounts similarly restrict direct cryptocurrency investments. For those investors, Bitcoin ETFs provide an easy way to get exposure to Bitcoin.
What is a spot Bitcoin ETF?
A spot Bitcoin ETF is an exchange-traded fund — a highly liquid fund that changes price throughout the trading day, just like a stock — that directly tracks the price of Bitcoin, primarily by holding a large amount of the cryptocurrency itself.
It’s similar to a spot gold ETF, which holds physical gold bullion on behalf of its shareholders.
But wait — weren’t there already Bitcoin ETFs on the market? Yes and no. There were already crypto-related ETFs and trusts out there, but there had never been a spot Bitcoin ETF on the market before the SEC approved the first spot Bitcoin ETFs in January 2024. These newer ETFs are the first cryptocurrency funds to trade on a major exchange and hold Bitcoin directly.
Top 12 spot Bitcoin ETFs by fee
Below is a list of the approved ETFs and their fees, in order from lowest to highest fee. (Want to add these to your portfolio? See our list of the best brokers for ETF investing.)
| ETF name & symbol | Fee | Notes |
|---|---|---|
| Grayscale Bitcoin Mini Trust (BTC) | 0.15% | N/A. |
| Franklin Templeton Digital Holdings Trust (EZBC) | 0.19% | N/A. |
| Bitwise Bitcoin ETF (BITB) | 0.20% | N/A. |
| VanEck Bitcoin Trust (HODL) | 0.20% | Fee waived until Jan. 10, 2026 or first $2.5 billion in fund assets, whichever comes first. |
| Ark 21Shares Bitcoin ETF (ARKB) | 0.21% | N/A. |
| iShares Bitcoin Trust (IBIT) | 0.25% | N/A. |
| Fidelity Wise Origin Bitcoin Fund (FBTC) | 0.25% | N/A. |
| WisdomTree Bitcoin Fund (BTCW) | 0.25% | N/A. |
| Invesco Galaxy Bitcoin ETF (BTCO) | 0.25% | N/A. |
| CoinShares Bitcoin ETF (BRRR) | 0.25% | N/A. |
| Hashdex Bitcoin ETF (DEFI) | 0.25% | N/A. |
| Grayscale Bitcoin Trust (GBTC) | 1.50% | N/A. |
| Sources: Fund websites. Data is current as of Nov. 3, 2025, and intended for informational purposes, not for trading purposes. | ||
It's worth noting that although spot Bitcoin ETFs are designed to track the price of Bitcoin directly by holding it, there is no guarantee that they will deliver exactly the same returns as the cryptocurrency itself.
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What is a Bitcoin strategy ETF?
Bitcoin strategy ETFs attempt to track the price of Bitcoin indirectly. Many started trading well before the first spot Bitcoin ETF approvals, and they're still available today.
Some invest in Bitcoin futures, while others invest in Bitcoin mining stocks. Due to the indirect nature of these investments, these funds' returns are especially prone to deviating from the returns of Bitcoin. Some target a multiple of Bitcoin's daily returns, or the opposite of its daily returns, or a multiple of the opposite.
» More: Is Bitcoin a good investment?
Top 14 Bitcoin strategy ETFs by fee
Below is a list of Bitcoin strategy ETFs and their fees, in order from lowest to highest fee. Funds marked with an asterisk * are leveraged ETFs, and funds marked with a double asterisk ** are inverse ETFs.
| Fund name & symbol | Fee | Notes |
|---|---|---|
| Grayscale Bitcoin Miners ETF (MNRS) | 0.59% | Invested in Bitcoin mining stocks. |
| Global X Blockchain & Bitcoin Strategy ETF (BITS) | 0.65% | Mostly invested in Bitcoin futures. Also invested in the Global X Blockchain ETF (BKCH). |
| Amplify Bitcoin 2% Monthly Option Income ETF (BITY) | 0.65% | Invested in Bitcoin ETFs. Generates income by writing call options on Bitcoin ETFs. |
| Amplify Bitcoin Max Income Covered Call ETF (BAGY)* | 0.65% | Invested in Bitcoin ETFs. Generates income by writing covered calls on Bitcoin ETFs. |
| Valkyrie Bitcoin Miners ETF (WGMI) | 0.75% | Invested in Bitcoin mining stocks. |
| ProShares Bitcoin Strategy ETF (BITO) | 0.95% | Invested in Bitcoin futures. |
| ProShares UltraShort Bitcoin ETF (SBIT)** | 0.97% | Invested in Bitcoin futures, targeting 2x the inverse of the daily returns of Bitcoin. |
| ProShares Ultra Bitcoin ETF (BITU)* | 0.98% | Invested in various Bitcoin derivatives, targeting 2x the daily returns of Bitcoin. |
| NEOS Bitcoin High Income ETF (BTCI) | 0.98% | Invested in Bitcoin ETFs. Generates income by writing call options on Bitcoin ETFs. |
| ProShares Short Bitcoin ETF (BITI)** | 1.01% | Invested in Bitcoin futures, targeting the inverse of the daily returns of Bitcoin. |
| ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) | 1.03% | Invested in Bitcoin and Ether futures. Fee reduced to 0.95% until Sept. 30, 2026. |
| ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) | 1.04% | Invested in Bitcoin and Ether futures. Fee reduced to 0.95% until Sept. 30, 2026. |
| VolatilityShares 2x Bitcoin Strategy ETF (BITX)* | 1.85% | Invested in Bitcoin futures, targeting 2x the daily returns of Bitcoin. |
| CoinShares Bitcoin Leverage ETF (BTFX)* | 1.86% | Invested in Bitcoin futures, targeting 2x the daily returns of Bitcoin. |
» See our list of the best crypto exchanges and apps
Do spot Bitcoin ETFs have custodianship risk?
Most spot Bitcoin ETFs rely on a third-party custodian to actually store the Bitcoin they hold — much like how spot gold ETFs often keep their physical gold holdings in the vault of a third-party custodian.
Nine of the 12 currently trading spot Bitcoin ETFs exclusively use Coinbase (COIN) as their Bitcoin custodian. The only exceptions are the Fidelity Wise Origin Bitcoin Fund (FBTC), which uses Fidelity itself as a custodian, the VanEck Bitcoin Trust (HODL), which uses Gemini, and the CoinShares Valkyrie Bitcoin Fund (BRRR), which uses both Coinbase and BitGo as custodians.
Coinbase's dominance in Bitcoin ETF custodianship has created concerns about custodianship risk. If Coinbase ran into severe financial trouble in the future — for example, due to a cyberattack, a government penalty, or a decline in its revenue — would the holdings of Bitcoin ETFs be safe?
There are mechanisms by which ETFs — and investors themselves — could recover their holdings in the event of a Coinbase bankruptcy, but they wouldn't necessarily be instant or automatic. So custodianship risk may be something to consider while shopping for a spot Bitcoin ETF.
» Interested in more ETFs? Check out the best ETFs in terms of one-year performance.
Disclosure: The author and editor owned Bitcoin at the time of publication.
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