IBIT vs FBTC Data Table
The table compares IBIT and FBTC on the points that actually decide the matchup: fee, custodian, scale, BTC held, options depth, and use case.
| Metric | IBIT | FBTC | Decision read |
|---|---|---|---|
| Issuer | BlackRock iShares | Fidelity | Both are top-tier asset managers |
| Exchange | Nasdaq | Cboe BZX | No major disadvantage for normal investors |
| Expense ratio | 0.25% | 0.25% | Fee does not decide this matchup |
| Custodian | Coinbase Custody | Fidelity Digital Asset Services | FBTC is the clearer custody-diversification choice |
| Scale | $62.65B AUM and about 817,138 BTC held as of May 15, 2026 | Large, but meaningfully smaller than IBIT | IBIT wins on network effects |
| Options | Deepest spot BTC ETF options market | Thinner options depth | IBIT is better for covered calls, puts, and active hedging |
Comparison Checklist
- Use IBIT if the account needs deep options, active hedging, or lower execution friction.
- Use FBTC if the portfolio already has Coinbase-custodied crypto products.
- For buy-and-hold investors with small orders, either product can work, but custody preference decides the tie.
- For large orders, compare live bid-ask spread and volume before choosing FBTC over IBIT.
IBIT And FBTC Product Overview
IBIT is the BlackRock iShares spot Bitcoin ETF on Nasdaq, built around scale, trading depth, and broad institutional distribution. FBTC is Fidelity's spot Bitcoin ETF on Cboe BZX, built around Fidelity's asset-management brand and Fidelity Digital Asset Services custody. Both provide spot Bitcoin exposure, both charge 0.25%, and both fit brokerage accounts, but their strongest selling points are different.
Core Fee, Custody, Liquidity, And Options Comparison
Because the fee is tied at 0.25%, the comparison moves to market structure and custody. IBIT has the stronger scale and options ecosystem, which matters for covered calls, protective puts, tactical hedging, and larger orders. FBTC is the more obvious choice when the investor wants to avoid relying only on Coinbase Custody for crypto ETF exposure.
IBIT vs FBTC Pros And Cons
IBIT's main advantages are liquidity, options depth, and institutional network effects; its drawback is Coinbase-custody concentration. FBTC's main advantage is Fidelity custody; its drawback is thinner options depth and a smaller trading ecosystem than IBIT. For pure buy-and-hold exposure, the gap is narrower. For active use, IBIT's market structure matters more.
Best Use Case And Final Recommendation
Use IBIT when the position may be traded, hedged, or overlaid with options. Use FBTC when the portfolio already owns Coinbase-custodied Bitcoin ETFs and needs custodian diversification. Some investors can use both, but the split should have a purpose: active account versus long-term account, or Coinbase custody versus Fidelity custody.
Common Questions
Is FBTC cheaper than IBIT?
No. Both charge 0.25% in this comparison.
Which has better options liquidity?
IBIT has the deeper options market.
Which has different custody?
FBTC uses Fidelity Digital Asset Services, while IBIT uses Coinbase Custody.
Can both be held together?
Yes, but the reason should be custody diversification or account separation, not just owning two tickers.
Which is better for long-term holding?
Either can work; custody preference and execution needs decide the matchup.
Do both track Bitcoin price?
Yes. Both are spot Bitcoin ETF wrappers and retain Bitcoin volatility.