BTCW vs GBTC
BTCW is cheaper: 0.25% vs 1.5% a year, or $125 less per $10,000. GBTC is larger, holding about 35× more BTC (131,528 BTC vs 3,746 BTC). Over the last 20 trading days, BTCW saw outflows of $4M and GBTC saw outflows of $124.4M.
Share this page
| BTCW | GBTC | |
|---|---|---|
| Fund | WisdomTree Bitcoin Fund | Grayscale Bitcoin Trust ETF |
| Issuer | WisdomTree | Grayscale |
| Exchange | Cboe BZX | NYSE Arca |
| Launched | 2024-01-11 | 2024-01-11 |
| Yearly fee | 0.25% ($25 / $10k) | 1.5% ($150 / $10k) |
| Custodian | Coinbase Custody | Coinbase Custody |
| BTC held | 3,746 BTC | 131,528 BTC |
| Cumulative flow | +$78M | −$27,966M |
| 5-day flow | $0M | −$22.3M |
| 20-day flow | −$4M | −$124.4M |
Sources: Farside Investors (22 Oct 2026, 21:35 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 BTCW charges less (0.25% vs 1.5%).
- Active trading: a larger fund is usually easier to trade; GBTC holds more BTC, but check trading volume with your broker.
- Custody: both funds keep their BTC with Coinbase Custody.
Not investment advice.
Flows over the last 20 trading days
| Date | BTCW | GBTC |
|---|---|---|
| 21 October 2026 | $0M | +$32.6M |
| 20 October 2026 | $0M | $0M |
| 19 October 2026 | $0M | −$54.9M |
| 16 October 2026 | $0M | $0M |
| 15 October 2026 | $0M | $0M |
| 14 October 2026 | $0M | $0M |
| 13 October 2026 | $0M | $0M |
| 12 October 2026 | $0M | $0M |
| 9 October 2026 | $0M | $0M |
| 8 October 2026 | $0M | −$8.2M |
| 7 October 2026 | $0M | −$39.3M |
| 6 October 2026 | $0M | $0M |
| 5 October 2026 | $0M | $0M |
| 2 October 2026 | $0M | $0M |
| 1 October 2026 | $0M | −$31.4M |
| 30 September 2026 | $0M | $0M |
| 29 September 2026 | $0M | $0M |
| 28 September 2026 | $0M | −$23.2M |
| 25 September 2026 | $0M | $0M |
| 24 September 2026 | −$4M | $0M |
| 20-day total | −$4M | −$124.4M |
Net flow, USD millions · Farside Investors (22 Oct 2026, 21:35 London) · the latest day may be preliminary
FAQ
- Is BTCW or GBTC cheaper?
- BTCW: 0.25% a year vs 1.5% for GBTC, a difference of $125 a year per $10,000.
- Which holds more bitcoin, BTCW or GBTC?
- GBTC: 131,528 BTC vs 3,746 BTC for BTCW, per bitcointreasuries.net as of 22 Oct 2026, 13:35 London.
- Do BTCW and GBTC hold real bitcoin?
- Yes. Both are US spot bitcoin ETFs that hold BTC directly: BTCW with Coinbase Custody as custodian, GBTC with Coinbase Custody. The share price tracks BTC minus the fee.