The choice between VanEck Bitcoin ETF (CBOE:HODL) and iShares Bitcoin Trust ETF (NASDAQ:IBIT) hinges on a trade-off between the lower expense ratio of HODL and the massive liquidity and asset scale of IBIT.
Both funds provide direct exposure to the price of Bitcoin without requiring investors to manage private keys or complex digital wallets. Launched alongside other spot bitcoin products in early 2024, they offer a regulated gateway into the cryptocurrency market through traditional brokerage accounts. These ETFs aim to replicate the volatile performance of the world’s largest digital asset while keeping operational costs low for long-term holders. This analysis compares their fees, liquidity, and historical volatility to help determine which trust may be the better fit for a portfolio.
Snapshot (cost & size)
Metric
HODL
IBIT
Issuer
VanEck
iShares
Expense ratio
0.20%
0.25%
1-yr return (as of June 17, 2026)
-38.7%
-38.9%
Beta
2.02
2.03
AUM
$1.1B
$49.5B
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months.
The VanEck Bitcoin ETF (CBOE:HODL) is the more affordable choice between these two options, carrying an expense ratio of 0.20%. In comparison, the iShares Bitcoin Trust ETF (NASDAQ:IBIT) charges a slightly higher 0.25%. This 0.05 percentage point difference may seem negligible over the short term, but it can impact total returns for long-term investors holding these trusts for several years or more.
Performance & risk comparison
Metric
HODL
IBIT
Max drawdown (2 yr)
-93.7%
-52.1%
Growth of $1,000 over 2 years (total return)
$241
$957
What’s inside
The iShares Bitcoin Trust ETF (NASDAQ:IBIT) is engineered to track the spot price of Bitcoin, holding its assets primarily in the digital currency. Its largest positions include Bitcoin across its single holding. Launched in 2024, the fund has grown rapidly to reach $49.5 billion in assets under management (AUM). Similarly, the iShares trust is designed to track the…
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