What are spot Bitcoin ETFs?

Spot Bitcoin ETFs are funds designed to track the price of Bitcoin rather than a traditional basket of stocks. In the UK, these ETFs generally follow a holding structure where the fund owns the underlying digital asset directly or through a trust. This means their performance closely mirrors Bitcoin's market movements. The funds listed here represent this asset class, allowing investors to gain exposure via stock exchanges without managing private keys.

Does the size of the fund affect trading?

Yes, fund size often influences trading liquidity. A smaller fund with $1.2 billion in assets might have a wider trading spread—the difference between the bid and ask prices. This can increase transaction costs for frequent traders. Conversely, a massive fund with $63.7 billion in assets typically has more volume and tighter spreads. Size also helps maintain fund viability, reducing the likelihood of unexpected closure.

How do the fees compare between these funds?

Both funds currently charge a 0.25% annual expense ratio. When comparing these costs, the 0% difference between the 0.25% and 0.25% figures means there is no fee advantage for either in terms of ongoing annual costs. If a fee difference existed, a lower expense ratio would generally result in higher net returns over extended periods, as less of the fund's gross performance is deducted for management costs.

What is the dividend yield?

The dividend yield for both is 0.00%. Digital assets like Bitcoin do not generate regular cash income, so these ETFs generally do not pay out dividends to investors. Unlike dividend stocks or fixed-income ETFs, returns are generated solely through changes in the asset's price. Consequently, investors in this category should anticipate capital appreciation or depreciation rather than regular income distribution.

How similar are the top holdings?

Based on available data, there are no shared top-10 holdings between the two. This is because both funds track Bitcoin and do not report detailed holdings in the traditional sense. Neither fund provides a list of top holdings or sector weights. Therefore, they share a similar exposure to a single digital asset rather than diversifying across a range of underlying companies or securities.

Which fund suits long-term investors?

Long-term investors often focus on fund stability and costs. Both are launched in 2024, so their track record is similar. The fund with $63.7 billion in assets might be preferred by those seeking a larger vehicle with potentially better liquidity to support a large fund. The fund with $1.2 billion offers the same 0.25% expense ratio and 0.00% dividend yield, appealing to those looking for similar exposure from a different provider.

What is the underlying asset category?

The category is Digital Assets. These funds are exposed to the cryptocurrency market, specifically Bitcoin. Unlike traditional market categories such as Technology or Healthcare which track sectors of the economy, Digital Assets track the price performance of a specific commodity-like asset class. Investors should recognise that these funds are subject to high volatility and the specific risks associated with the digital asset market.

What index do these funds track?

The index tracked is not available for either fund. Traditional ETFs usually specify the index they follow, such as the S&P 500 or a Bitcoin benchmark. The absence of specific index details means the methodology for tracking the price of the underlying asset is not transparently listed in the fund data. This leaves the tracking mechanism slightly opaque regarding how closely it replicates the asset's price.

What is the fund size for each?

Fund A has net assets of $1.2 billion, while Fund B has $63.7 billion. This significant difference reflects the varying levels of investor adoption and market capital. A larger fund size can provide economies of scale, although both funds charge the same expense ratio. The smaller fund is still relatively large compared to many emerging ETFs, helping to avoid immediate closure risks, but offers less trading depth than the larger competitor.

When did these funds start?

The inception date for Fund A is January 4, 2024, and for Fund B it is January 5, 2024. This means both funds have nearly identical operational histories in the market. A fund's age can indicate its track record and maturity, but as both launched within a day of each other, this metric does not differentiate between them. Investors should review historical performance within the available timeframe.

What is the difference in fund providers?

Fund A is managed by VanEck, and Fund B is managed by iShares. While the expense ratio and dividend yield are identical, the underlying structure, liquidity management and regulatory considerations are determined by the provider. The difference in net assets—$1.2 billion versus $63.7 billion—indicates a substantial difference in scale. Investors may consider the issuer's reputation and resources when choosing between similar ETFs.

Is there any regular income from these funds?

No, the dividend yield is 0.00%. Digital asset ETFs do not typically generate cash flow through lending or yield farming in the UK regulatory framework. Investors will not receive regular distributions. Returns are based entirely on the capital performance of Bitcoin. If a fund generates taxable income, it is generally retained within the fund structure rather than distributed, although the current yield is explicitly zero.

HODL vs IBIT

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare VanEck Bitcoin Etf (HODL) and iShares Bitcoin Trust ETF (IBIT) on fees, holdings, dividends and market tracking. Both spot Bitcoin ETFs share a 0.25% expense ratio and 0.00% dividend yield. Net assets and index details differ, with holdings data not available. Understand how each fund structures its exposure to the digital asset market. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

HODL

Metric

IBIT

0.25%

Expense Ratio

0.25%

0.00%

Dividend Yield

0.00%

$1.19B

Net Assets

$63.71B

Holdings

Jan 4, 2024

Inception Date

Jan 5, 2024

–

Index Tracked

–

Digital Assets

Fund Category

Digital Assets

Both funds charge the same annual fee.

Shared Top Holdings

These funds do not share any of their top holdings.

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Investment Analysis

HODL

Pros

$1.2 billion in assets.
The fund is relatively large. This helps avoid closure.
It matches iShares at 0.25% expense ratio. This keeps costs moderate.

Considerations

Lacks the 63 billion dollar scale. This may widen trading spreads.
The 0 percent dividend yield means no regular income from the fund.
Index tracking details are not available. This leaves methodology less clear.

IBIT

Pros

63.7 billion dollar net assets. This should support tight trading liquidity.
The massive scale reduces the risk of closure. This aids fund stability.
The 0.25 percent cost is standard for such large digital asset vehicles.

Considerations

The fund provides a 0 percent dividend yield. No cash income is generated.
Bitcoin ETFs generally use a holding structure that can be tax inefficient.
No benchmark index is listed. The underlying tracking methodology is opaque.

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About HODL and IBIT

HODL (HODL)

HODL (ticker HODL) is commonly used for listings that provide exposure to digital assets or companies serving the cryptocurrency ecosystem. Public information and structures vary: some HODL tickers represent funds that hold crypto directly, others are equity vehicles or business operating companies tied to blockchain services. Investors should check whether the vehicle holds underlying coins, invests in related equities, or tracks an index, and review fees, custody arrangements and transparency of holdings. Digital-asset exposure typically means higher price volatility, evolving regulatory oversight and potential liquidity constraints. Important considerations include market capitalisation, trading volume, and the custodian’s security practices. Past performance is not a reliable guide, and values can fall as well as rise. This overview is educational only and not personal investment advice — consult a regulated financial adviser to determine suitability based on your circumstances.

IBIT (IBIT)

The iShares Bitcoin Trust ETF (IBIT) offers investors exposure to Bitcoin, the leading digital asset. Launched in early 2024, this exchange-traded fund aims to track the value of Bitcoin held by the trust. With an expense ratio of 0.25%, it provides a regulated way to gain access to cryptocurrency without managing private keys or wallets directly. As of recent data, IBIT holds significant net assets, reflecting strong institutional interest. Investors should note that Bitcoin's price can be highly volatile, and the fund's value may rise or fall sharply. There are no dividends, and returns are not guaranteed. This ETF is suitable for those who understand digital assets and accept the associated risks. It’s important to conduct thorough research and consider your financial circumstances before investing.

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HODL vs IBIT

Fund Snapshot