GBTC vs IBIT
IBIT is cheaper: 0.25% vs 1.5% a year, or $125 less per $10,000. IBIT is larger, holding about 6.2× more BTC (811,115 BTC vs 131,528 BTC). Over the last 20 trading days, GBTC saw outflows of $124.4M and IBIT took in $1,475.6M.
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| GBTC | IBIT | |
|---|---|---|
| Fund | Grayscale Bitcoin Trust ETF | iShares Bitcoin Trust ETF |
| Issuer | Grayscale | BlackRock |
| Exchange | NYSE Arca | Nasdaq |
| Launched | 2024-01-11 | 2024-01-11 |
| Yearly fee | 1.5% ($150 / $10k) | 0.25% ($25 / $10k) |
| Custodian | Coinbase Custody | Coinbase Custody (Anchorage backup) |
| BTC held | 131,528 BTC | 811,115 BTC |
| Cumulative flow | −$27,966M | +$66,498M |
| 5-day flow | −$22.3M | +$875.1M |
| 20-day flow | −$124.4M | +$1,475.6M |
Sources: Farside Investors (22 Oct 2026, 19:30 London), bitcointreasuries.net (22 Oct 2026, 13:35 London), fee tables (14 Oct 2026, 10:00 London). Not investment advice.
Which is better for you?
- Long-term holding: the fee matters most, and IBIT charges less (0.25% vs 1.5%).
- Active trading: a larger fund is usually easier to trade; IBIT holds more BTC, but check trading volume with your broker.
- Custody: GBTC uses Coinbase Custody, IBIT uses Coinbase Custody (Anchorage backup).
Not investment advice.
Flows over the last 20 trading days
| Date | GBTC | IBIT |
|---|---|---|
| 21 October 2026 | +$32.6M | +$235M |
| 20 October 2026 | $0M | +$29.9M |
| 19 October 2026 | −$54.9M | +$665.2M |
| 16 October 2026 | $0M | −$71.8M |
| 15 October 2026 | $0M | +$16.8M |
| 14 October 2026 | $0M | −$110.9M |
| 13 October 2026 | $0M | +$65.9M |
| 12 October 2026 | $0M | −$65.4M |
| 9 October 2026 | $0M | +$22.4M |
| 8 October 2026 | −$8.2M | −$5.5M |
| 7 October 2026 | −$39.3M | −$207.7M |
| 6 October 2026 | $0M | +$122M |
| 5 October 2026 | $0M | +$69.9M |
| 2 October 2026 | $0M | +$158.2M |
| 1 October 2026 | −$31.4M | +$195.6M |
| 30 September 2026 | $0M | −$9.5M |
| 29 September 2026 | $0M | +$51.1M |
| 28 September 2026 | −$23.2M | +$54.8M |
| 25 September 2026 | $0M | +$97M |
| 24 September 2026 | $0M | +$162.6M |
| 20-day total | −$124.4M | +$1,475.6M |
Net flow, USD millions · Farside Investors (22 Oct 2026, 19:30 London) · the latest day may be preliminary
FAQ
- Is GBTC or IBIT cheaper?
- IBIT: 0.25% a year vs 1.5% for GBTC, a difference of $125 a year per $10,000.
- Which holds more bitcoin, GBTC or IBIT?
- IBIT: 811,115 BTC vs 131,528 BTC for GBTC, per bitcointreasuries.net as of 22 Oct 2026, 13:35 London.
- Do GBTC and IBIT hold real bitcoin?
- Yes. Both are US spot bitcoin ETFs that hold BTC directly: GBTC with Coinbase Custody as custodian, IBIT with Coinbase Custody (Anchorage backup). The share price tracks BTC minus the fee.