Dividend comparison

GBTC vs BITB: Which Is Better?

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

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GBTC vs BITB: key differences
The short answer, from the latest data on this page.
  • Fees. BITB is cheaper at 0.20% a year versus 1.50% for GBTC. On $10,000 that is $130 a year less in fees.
  • Performance. Over the last 1 year, BITB returned -25.8% versus -26.7% for GBTC, with dividends reinvested. $10,000 would have grown to $7,421 in BITB 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 -53.3% for BITB.
  • Size. GBTC is the larger fund with $10.3 billion in assets, against $3.1 billion for BITB.

Bottom line: BITB 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.
MetricGBTC
Grayscale Bitcoin Trust ETF
BITB
Bitwise Bitcoin ETF Trust
Last dividend$0.0565 on Apr 3, 2018—
Ex-dividend dateNov 30, 2017—
Price$63.70$44.74
Beta2.192.13
Max drawdown (5Y)-85.4%-53.3%
Market cap$43.56B$3.00B
ExchangeAMEXAMEX
Expense ratio1.50%0.20%
Assets under management$10.33B$3.07B
Number of holdings—1
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

GBTC

—/mo

Yield data unavailable

BITB

—/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 $15,655 in GBTC and $17,518 in BITB.
PeriodGBTCBITB
1 month1.42%1.45%
3 months26.26%28.49%
Year to date-6.82%-5.93%
1 year-26.69%-25.79%
3 years169.46%—
5 years23.09%—
  • GBTC
  • BITB
76171267202420252026157175

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

Quick verdict

BITB 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.

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Frequently asked questions

Is GBTC or BITB 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 GBTC and BITB?
Grayscale Bitcoin Trust ETF (GBTC) is an ETF listed on AMEX. Bitwise Bitcoin ETF Trust (BITB) 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, GBTC or BITB?
BITB has the lower expense ratio. GBTC charges 1.50% a year and BITB charges 0.20%, a difference of $130 a year on a $10,000 investment.
Which has performed better, GBTC or BITB?
Over the last 1 year, BITB has the higher total return with dividends reinvested: GBTC returned -26.7% and BITB returned -25.8%. Past performance does not predict future returns.
Which is riskier, GBTC or BITB?
Measured by the worst peak-to-trough decline over the last five years, GBTC has been riskier: GBTC fell as much as 85.4% and BITB as much as 53.3%. Their betas are 2.19 and 2.13.
Can I hold both GBTC and BITB?
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 GBTC vs BITB with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how GBTC and BITB 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.