A small annual percentage can become a meaningful dollar difference. Compare the estimated expense-ratio drag of IBIT, FBTC, GBTC and the tracked US spot Bitcoin ETFs over your holding period.
Compare all fund fees · Keep, switch or redirect contributions
| Fund | Issuer | Expense ratio | First-year fee* | Estimated fee drag* | Estimated ending value* |
|---|---|---|---|---|---|
| MSBT | Morgan Stanley | 0.14% | $14 | $300 | $21,289 |
| BTC | Grayscale | 0.15% | $15 | $322 | $21,268 |
| EZBC | Franklin Templeton | 0.19% | $19 | $407 | $21,183 |
| BITB | Bitwise | 0.20% | $20 | $428 | $21,161 |
| HODL | VanEck | 0.20% | $20 | $428 | $21,161 |
| ARKB | ARK Invest / 21Shares | 0.21% | $21 | $449 | $21,140 |
| IBIT | BlackRock | 0.25% | $25 | $534 | $21,056 |
| FBTC | Fidelity | 0.25% | $25 | $534 | $21,056 |
| BRRR | CoinShares | 0.25% | $25 | $534 | $21,056 |
| BTCO | Invesco | 0.25% | $25 | $534 | $21,056 |
| BTCW | WisdomTree | 0.25% | $25 | $534 | $21,056 |
| GBTC | Grayscale | 1.50% | $150 | $3,028 | $18,561 |
Keep, switch or redirect future purchases
Keep your existing fund, switch the holding, or keep it and direct new contributions to another fund. Compare the same cash budget under the same assumed gross return.
Before-tax model. Tax on a sale, tax deferral and eventual liquidation are excluded and may change the comparison substantially. The model also excludes tracking differences, fee changes, premium/discount changes and price movement during a switch. Results are hypothetical costs, not a fund recommendation.
Set assumptions ↓See the comparison ↓
Scenario inputs stay in this page and are not added to the URL or automatically saved. Optional analytics records fixed action names only after consent, never these amounts or assumptions. Downloading a CSV saves a file only when you choose it.
Your estimate of sale and purchase charges, including spread costs. Deducted from the starting holding, not charged as extra cash. Excludes taxes. Recurring purchase charges come out of the monthly budget.
Reference source loading. Example rates are editable assumptions, not verified current terms.
Provider reference table · Compare all fund fees. Confirm fees, waivers and trading costs in current issuer and broker documents.
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Monthly model points, not historical fund performance or predicted prices.
● Keep · solid● Switch · dotted● Redirect new contributions · dashed
Values exclude liquidation costs and taxes. Scroll the table horizontally on a phone; the monthly CSV includes all model points.
| Year | Cash budget | Keep | Switch | Redirect |
|---|
Each month applies a common gross-return factor and an annualised expense factor to the holdings already invested. Contributions arrive at month end, after that month’s fees. Purchase costs are deducted only when a contribution is made. These are simplified expense assumptions; real funds accrue expenses and track Bitcoin differently.
“Cash fees” sums the modelled fund charges, purchase costs and any initial switching cost. It does not include all lost growth or any tax bill. The first month ahead can reverse later when recurring purchase costs differ. This tool compares scenarios, not the merits of the funds.
An expense ratio is charged against fund assets rather than appearing as a separate annual invoice. Its effect compounds: fees slightly reduce the amount left to participate in later gains or losses.
Fees are only one selection factor. Liquidity, bid-ask spread, tracking quality, custody arrangements, tax treatment and account availability can matter more than a few basis points.
MSBT's 0.14% reference rate comes from the Morgan Stanley issuer filing through 30 June 2026. Rates are reference inputs, not a guarantee of current charges.
This model applies the same assumed gross return to every fund, then deducts its reference expense ratio once per year. Ending value is investment × [(1 + annual return) × (1 − expense ratio)] ^ years. Estimated fee drag is the difference from the same scenario without expenses.
At a hypothetical 0.25% annual expense ratio and zero gross return, $10,000 becomes $9,975 after one year. The $25 difference is a modelled expense, not a prediction of a fund's performance. Over longer periods, lost growth on deducted fees also affects the comparison.
Profiles contain reference rates, not a guarantee of current issuer charges. Temporary waivers, brokerage costs, bid–ask spreads, taxes and tracking differences are outside this calculation. Confirm the fund's current prospectus before relying on a rate.
Background: the SEC's explanation of investment fees. Compare reported ETF flows or use the direct Bitcoin backtest.