Dividend comparison

FBTC vs GBTC: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Fidelity Wise Origin Bitcoin Fund and Grayscale Bitcoin Trust ETF, side by side. Updated October 21, 2026.

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FBTC vs GBTC: key differences
The short answer, from the latest data on this page.
  • Fees. FBTC is cheaper at 0.25% a year versus 1.50% for GBTC. On $10,000 that is $125 a year less in fees.
  • Performance. Over the last 1 year, FBTC returned -25.8% versus -26.7% for GBTC, with dividends reinvested. $10,000 would have grown to $7,418 in FBTC and $7,331 in GBTC.
  • Risk. GBTC has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -85.4%, against -53.4% for FBTC.

Bottom line: FBTC has the edge on these figures, with lower fees and smaller drawdowns. GBTC does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricFBTC
Fidelity Wise Origin Bitcoin Fund
GBTC
Grayscale Bitcoin Trust ETF
Last dividend—$0.0565 on Apr 3, 2018
Ex-dividend date—Nov 30, 2017
Price$71.72$63.70
Beta2.142.19
Max drawdown (5Y)-53.4%-85.4%
Market cap$15.48B$43.56B
ExchangeCBOEAMEX
Expense ratio0.25%1.50%
Assets under management$15.45B$10.30B
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

FBTC

—/mo

Yield data unavailable

GBTC

—/mo

Yield data unavailable

Strategy: Bitcoin
Funds that give exposure to bitcoin, either by holding it directly in custody or through futures contracts. Spot funds that hold the same coins differ mainly in fee and trading liquidity, while futures funds carry extra roll costs. None of them produce income on their own.

Bitcoin has fallen more than 70% from its peak several times, and price swings of 10% in a day are not unusual.

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jan 11, 2024 would now be worth $17,544 in FBTC and $15,655 in GBTC.
PeriodFBTCGBTC
1 month1.50%1.42%
3 months28.48%26.26%
Year to date-5.92%-6.82%
1 year-25.82%-26.69%
3 years—169.46%
5 years—23.09%
  • FBTC
  • GBTC
76172267202420252026175157

Both series indexed to 100 on 2024-01-11 using the adjusted closing price series. Past performance does not guarantee future results.

Quick verdict

FBTC has the edge on these figures, with lower fees and smaller drawdowns. GBTC does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how FBTC vs GBTC fits with the rest of your holdings. Free to start — no credit card required for the trial.
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Frequently asked questions

Is FBTC or GBTC better for dividend income?
Compare yield, payout sustainability, and how each fund or stock fits your income goals. Use Dividend Wealth to model both holdings inside a real portfolio forecast.
What is the difference between FBTC and GBTC?
Fidelity Wise Origin Bitcoin Fund (FBTC) is an ETF listed on CBOE. Grayscale Bitcoin Trust ETF (GBTC) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, FBTC or GBTC?
FBTC has the lower expense ratio. FBTC charges 0.25% a year and GBTC charges 1.50%, a difference of $125 a year on a $10,000 investment.
Which has performed better, FBTC or GBTC?
Over the last 1 year, FBTC has the higher total return with dividends reinvested: FBTC returned -25.8% and GBTC returned -26.7%. Past performance does not predict future returns.
Which is riskier, FBTC or GBTC?
Measured by the worst peak-to-trough decline over the last five years, GBTC has been riskier: FBTC fell as much as 53.4% and GBTC as much as 85.4%. Their betas are 2.14 and 2.19.
Can I hold both FBTC and GBTC?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare FBTC vs GBTC with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how FBTC and GBTC fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.