HODL vs MSBT
MSBT is cheaper: 0.14% vs 0.2% a year, or $6 less per $10,000. HODL is larger, holding slightly more BTC (14,767 BTC vs 10,436 BTC). Over the last 20 trading days, HODL saw outflows of $4.8M and MSBT took in $34.1M.
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| HODL | MSBT | |
|---|---|---|
| Fund | VanEck Bitcoin ETF | Morgan Stanley Bitcoin Trust |
| Issuer | VanEck | Morgan Stanley |
| Exchange | Cboe BZX | NYSE Arca |
| Launched | 2024-01-11 | 2026-04-08 |
| Yearly fee | 0.2% ($20 / $10k) | 0.14% ($14 / $10k) |
| Custodian | Gemini, Coinbase Custody | Coinbase Custody, BNY |
| BTC held | 14,767 BTC | 10,436 BTC |
| Cumulative flow | +$1,008M | +$800M |
| 5-day flow | $0M | $0M |
| 20-day flow | −$4.8M | +$34.1M |
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 MSBT charges less (0.14% vs 0.2%).
- Active trading: a larger fund is usually easier to trade; HODL holds more BTC, but check trading volume with your broker.
- Custody: HODL uses Gemini, Coinbase Custody, MSBT uses Coinbase Custody, BNY.
Not investment advice.
Flows over the last 20 trading days
| Date | HODL | MSBT |
|---|---|---|
| 21 October 2026 | $0M | $0M |
| 20 October 2026 | $0M | $0M |
| 19 October 2026 | $0M | $0M |
| 16 October 2026 | $0M | $0M |
| 15 October 2026 | $0M | $0M |
| 14 October 2026 | $0M | $0M |
| 13 October 2026 | $0M | +$6.7M |
| 12 October 2026 | $0M | $0M |
| 9 October 2026 | +$2.3M | $0M |
| 8 October 2026 | $0M | $0M |
| 7 October 2026 | −$3.5M | $0M |
| 6 October 2026 | $0M | +$7.8M |
| 5 October 2026 | $0M | $0M |
| 2 October 2026 | $0M | +$2.4M |
| 1 October 2026 | −$3.6M | +$7M |
| 30 September 2026 | $0M | $0M |
| 29 September 2026 | $0M | $0M |
| 28 September 2026 | $0M | $0M |
| 25 September 2026 | $0M | $0M |
| 24 September 2026 | $0M | +$10.2M |
| 20-day total | −$4.8M | +$34.1M |
Net flow, USD millions · Farside Investors (22 Oct 2026, 21:35 London) · the latest day may be preliminary
FAQ
- Is HODL or MSBT cheaper?
- MSBT: 0.14% a year vs 0.2% for HODL, a difference of $6 a year per $10,000.
- Which holds more bitcoin, HODL or MSBT?
- HODL: 14,767 BTC vs 10,436 BTC for MSBT, per bitcointreasuries.net as of 22 Oct 2026, 13:35 London.
- Do HODL and MSBT hold real bitcoin?
- Yes. Both are US spot bitcoin ETFs that hold BTC directly: HODL with Gemini, Coinbase Custody as custodian, MSBT with Coinbase Custody, BNY. The share price tracks BTC minus the fee.