Spot Bitcoin ETFs & Bitcoin Treasury Stocks (2026)
US spot Bitcoin ETFs hold BTC with a custodian and trade in any brokerage account. iShares IBIT is the largest at roughly $53–63 billion; FBTC, GBTC (1.5% fee), Grayscale Bitcoin Mini Trust, BITB, ARKB, HODL, BTCO, BRRR, and EZBC follow at 0.15–0.25% expense ratios. Hashdex DEFI was liquidated in August 2026. Bitcoin treasury stocks such as Strategy (MSTR) and Twenty One (XXI) offer leveraged exposure with equity risk. Last verified September 2026. Listings are neutral and unranked; not financial advice.
ETFs & stocks: 13 listings
- iShares Bitcoin Trust (IBIT) — Largest spot Bitcoin ETF, BlackRock. Options available. custodial, Bitcoin-only. Pricing: 0.25% expense ratio; ~$53–63B AUM.
- Fidelity Wise Origin Bitcoin Fund (FBTC) — Fidelity self-custodies via Fidelity Digital Assets. custodial, Bitcoin-only. Pricing: 0.25%.
- Grayscale Bitcoin Trust (GBTC) — Converted trust; highest fee of the group. custodial, Bitcoin-only. Pricing: 1.50%.
- Grayscale Bitcoin Mini Trust (BTC) — Low-fee spin-off of GBTC. custodial, Bitcoin-only. Pricing: 0.15%.
- Bitwise Bitcoin ETF (BITB) — Bitwise; publishes wallet addresses. custodial, Bitcoin-only. Pricing: 0.20%.
- ARK 21Shares Bitcoin ETF (ARKB) — ARK Invest and 21Shares. custodial, Bitcoin-only. Pricing: 0.21%.
- VanEck Bitcoin ETF (HODL) — VanEck; donates a share of profits to Bitcoin developers. custodial, Bitcoin-only. Pricing: 0.20%.
- Invesco Galaxy Bitcoin ETF (BTCO) — Invesco and Galaxy. custodial, Bitcoin-only. Pricing: 0.25%.
- Valkyrie Bitcoin Fund (BRRR) — CoinShares Valkyrie. custodial, Bitcoin-only. Pricing: 0.25%.
- Franklin Bitcoin ETF (EZBC) — Franklin Templeton. custodial, Bitcoin-only. Pricing: 0.19%.
- Strategy (MSTR) — Largest corporate Bitcoin treasury; equity with leverage to BTC via convertible debt and preferred stock. Bitcoin-only. Warning: Trades at a premium or discount to its Bitcoin; equity and financing risk on top of BTC risk.
- Twenty One Capital (XXI) — Bitcoin-native treasury company backed by Tether, Bitfinex, and SoftBank. Bitcoin-only.
- Hashdex Crypto Index ETF (DEFI) — Liquidated in August 2026. Listed so searchers know it no longer trades. custodial, multi-asset. Changed: Liquidated Aug 2026.
Frequently asked questions
Which spot Bitcoin ETF has the lowest fee?
Grayscale Bitcoin Mini Trust (BTC) at 0.15%, then EZBC at 0.19%, BITB and HODL at 0.20%. IBIT and FBTC charge 0.25%. GBTC is the outlier at 1.50%.
Does IBIT track Bitcoin exactly?
Closely but not exactly. The expense ratio compounds against you, the fund only trades during market hours, and you own shares rather than coins. Over a year the drag is roughly the expense ratio. BitStack shows how your ETF shares perform against holding BTC directly.
Is MSTR a Bitcoin ETF?
No. Strategy is an operating company that holds Bitcoin on its balance sheet and finances purchases with debt and equity. Its stock moves more than Bitcoin in both directions and can trade far above or below the value of its coins.
Links
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