2025 Complete List of Bitcoin ETFs with Their Fees and Holdings

With the approval of spot Bitcoin ETFs in early 2024, Spot Bitcoin exchange-traded funds (ETFs) have revolutionized the way investors gain exposure to Bitcoin, marking a significant milestone in cryptocurrency trading.

Unlike Bitcoin futures ETFs, which have been available since 2021 and rely on derivatives contracts, spot Bitcoin ETFs directly hold the cryptocurrency, offering a more accurate reflection of Bitcoin’s market price. This distinction plays a crucial role in the performance and appeal of these funds.

This article provides a comprehensive overview of Bitcoin ETFs, categorizing them into spot and strategy ETFs, while detailing their fees, holdings, and key differences.

What exactly are Bitcoin ETFs

Bitcoin ETFs are exchange-traded funds designed to track the value of Bitcoin and trade on traditional stock market exchanges, such as the NYSE, instead of cryptocurrency exchanges. 

They enable investors to gain exposure to Bitcoin’s price movements without the need to directly purchase, store, or manage Bitcoin itself. This makes Bitcoin ETFs an appealing option for those seeking simplified access to the cryptocurrency market.

How do Bitcoin ETFs work?

A Bitcoin ETF operates like any other exchange-traded fund. The price of one share of the ETF reflects the value of its underlying asset—in this case, Bitcoin. When Bitcoin’s price rises, the ETF’s share price rises accordingly, and vice versa.

Unlike holding Bitcoin directly through a wallet or cryptocurrency exchange, Bitcoin ETFs are traded on traditional stock exchanges. This provides investors with the ease of buying and selling Bitcoin exposure through a broker, without dealing with the technical challenges or risks associated with holding cryptocurrency.

Why buy Bitcoin ETFs?

Bitcoin ETFs simplify the process of investing in Bitcoin by allowing investors to gain exposure through regulated stock exchanges. These funds eliminate the complexities of managing private keys, wallets, and secure storage, which are common concerns for direct Bitcoin ownership.

Additionally, Bitcoin ETFs offer:

1. Diversification: They enable investors to add Bitcoin exposure to a broader portfolio with ease.
2. Liquidity: ETFs trade like stocks, making them highly liquid and accessible during market hours.
3. Regulation: ETFs are overseen by financial regulators, reducing risks associated with unregulated crypto exchanges.
4. Flexibility: They allow for different strategies, such as futures-based investments or direct Bitcoin holdings, depending on the ETF type.

What is a spot Bitcoin ETF?

A spot Bitcoin ETF is an exchange-traded fund that directly tracks the price of Bitcoin by holding the cryptocurrency itself. Similar to spot gold ETFs, which store physical gold bullion, spot Bitcoin ETFs purchase and store Bitcoin as their primary asset. This structure allows the fund to closely mirror Bitcoin’s price movements. For example, if Bitcoin’s price rises by 10%, the ETF’s value is expected to increase by a similar percentage, minus management fees.

Before 2024, Bitcoin-related ETFs were limited to futures-based ETFs or funds investing in crypto-related equities. However, the Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs in January 2024, making them the first cryptocurrency funds to trade on major exchanges while holding Bitcoin directly.

Spot Bitcoin ETFs are ideal for investors who want exposure to Bitcoin’s price performance without the complexities of using cryptocurrency exchanges or the responsibility of securely storing digital assets. 

The fund managers handle Bitcoin custody, offering investors peace of mind by ensuring security and compliance. Additionally, these ETFs are easy to buy and trade through traditional brokerage accounts, providing seamless access to Bitcoin within a regulated framework.

By simplifying Bitcoin investment and offering the security of professional asset management, spot Bitcoin ETFs have opened the door for a wider range of investors to participate in the cryptocurrency market.

List of spot Bitcoin ETFs

Source: Coinglass (as of 24th Jan 2025)

These ETFs are designed to track Bitcoin prices closely, but variations in returns can occur due to fees and other operational factors.

What is a Bitcoin futures ETF?

Bitcoin futures ETFs differ from spot Bitcoin ETFs in that they do not directly hold Bitcoin. Instead, these ETFs invest in Bitcoin futures contracts, which are standardized agreements to buy or sell a specified amount of Bitcoin at a predetermined price on a future date. The ETF manager actively handles these contracts on behalf of investors, and the fund’s returns are reflected in its net asset value (NAV).

While Bitcoin futures may generally move in the same direction as Bitcoin’s spot price, they can be more volatile. This can lead to tracking errors, where the ETF’s performance deviates from Bitcoin’s actual price movements. For investors who want a fund to mirror Bitcoin’s performance precisely, this limitation is a significant drawback. 

Additionally, Bitcoin futures ETFs often charge higher management fees compared to spot ETFs, adding to their costs.

Are Bitcoin strategy ETFs the same as Bitcoin futures ETFs?

Bitcoin strategy ETFs and Bitcoin futures ETFs overlap in some aspects but are not identical. Bitcoin futures ETFs are a type of Bitcoin strategy ETF, but the broader category of strategy ETFs may also include funds that invest in Bitcoin-related equities, such as mining companies or blockchain technology firms.

While Bitcoin futures ETFs and Bitcoin strategy ETFs are both indirect ways to invest in Bitcoin, the key difference lies in their underlying investment strategies and diversification. Investors should assess their goals and risk tolerance when deciding between these types of funds.

List of strategy Bitcoin ETFs & Bitcoin Futures ETFs

Source: Coinglass (as of 24th Jan 2025)

These ETFs offer exposure to Bitcoin’s ecosystem while diversifying across assets related to cryptocurrency markets.

How to buy Bitcoin ETF?

Investors must have a brokerage account to purchase Bitcoin ETFs shares, similar to buying stocks or other ETFs. Once the account is set up, investors can search for the ETF using its ticker symbol and place a market or limit order to buy shares. Selling shares follows a similar process through the same brokerage account. 

Bitcoin ETFs are generally liquid, allowing investors to trade during market hours, but their liquidity can vary based on trading volume and the underlying asset. Transaction costs include brokerage fees and annual expense ratios, which are automatically deducted to cover operational costs. 

The ETF’s price may fluctuate from its Net Asset Value (NAV) due to supply and demand, but authorized participants ensure the ETF price aligns with the NAV by creating or redeeming shares as needed. All trades are subject to the operating hours of the exchange where the ETF is listed.

Buying Bitcoin ETFs with StashAway

StashAway, Malaysia's leading digital investment platform, now offers Bitcoin (BTC) and Ethereum (ETH) ETFs as part of its Flexible Portfolios. This allows investors to gain exposure to the two largest cryptocurrencies through a trusted and regulated platform, addressing common concerns like security risks and the complexities of navigating crypto exchanges.

The addition of Bitcoin and Ethereum ETFs enables StashAway clients to diversify their portfolios with crypto while benefiting from a user-friendly interface and transparent fees.

Flexible Portfolios allow investors to customize their holdings from over 70 ETFs across various asset classes, including equities, bonds, and gold. Clients can choose a 5% allocation to Bitcoin, as research suggests this can enhance long-term returns in a diversified portfolio without significantly increasing volatility.

StashAway maintains a simple fee structure, with management fees ranging from 0.2% to 0.8% p.a.. 

Portfolios consisting of a single ETF, such as Fidelity Wise Origin Bitcoin Fund (FBTC) or Fidelity Ethereum Fund (FETH), incur a flat management fee of 0.3% p.a., with no lock-ins or minimum investment required. 

Both crypto ETFs also have an expense ratio of 0.25% p.a., making it a cost-efficient way to incorporate Bitcoin ETFs into your portfolio.

What are the risks and challenges of Bitcoin ETFs?

Investing in Bitcoin ETFs comes with several challenges and risks that investors should carefully consider before making decisions.

The most significant risk is Bitcoin’s inherent volatility, which often leads to substantial price fluctuations in Bitcoin ETFs. Investors must be prepared for rapid changes in value, which can result in significant losses. Additionally, Bitcoin ETFs come with management fees, such as expense ratios, which can erode returns over time, especially for long-term investors.

Regulatory risks are another key concern. Changes in cryptocurrency regulations could impact the operation, availability, or structure of Bitcoin ETFs, potentially affecting their performance or investor access. Moreover, the management of the underlying Bitcoin holdings requires secure custody solutions, as any breach in security or mismanagement could harm investor confidence and the ETF’s value.

Tax implications also present a challenge, as they can differ significantly from directly holding Bitcoin, depending on the investor's jurisdiction. Investors need to be aware of specific tax laws and potential liabilities associated with Bitcoin ETF investments in their region. Understanding these risks is critical to making informed investment decisions.