Fidelity Wise Origin Bitcoin Fund (FBTC) vs iShares Bitcoin Trust (IBIT) — Head-to-Head Custody Comparison

An independent, data-driven comparison of Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Bitcoin Trust (IBIT) across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Fidelity Wise Origin Bitcoin Fund (FBTC) scores 7.9 vs iShares Bitcoin Trust (IBIT)'s 7.6. Fidelity Wise Origin Bitcoin Fund (FBTC) leads in 3 of 8 categories.

Fidelity Wise Origin Bitcoin Fund (FBTC) is better suited for Fidelity customers, Self-custody ETF seekers, RIAs. iShares Bitcoin Trust (IBIT) is better suited for Traditional investors, RIAs, Retirement accounts.

7.9

GoodCustody Score

Fidelity Wise Origin Bitcoin Fund (FBTC)

7.6

GoodCustody Score

iShares Bitcoin Trust (IBIT)

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Fidelity Wise Origin Bitcoin Fund (FBTC)	iShares Bitcoin Trust (IBIT)	Winner
Security	20%	8.5	8.0	Fidelity Wise Origin Bitcoin Fund (FBTC)
Insurance	15%	9.0	8.0	Fidelity Wise Origin Bitcoin Fund (FBTC)
Regulatory	15%	10.0	10.0	Tie
Fee Transparency	10%	9.0	9.0	Tie
Track Record	15%	7.0	7.0	Tie
Withdrawal Flexibility	10%	3.0	3.0	Tie
Reporting & Audit	10%	9.5	9.5	Tie
Counterparty Diversification	5%	2.5	2.0	Fidelity Wise Origin Bitcoin Fund (FBTC)
Overall Score	100%	7.9	7.6	Fidelity Wise Origin Bitcoin Fund (FBTC)

Visual

Score Radar

Visual overlay of Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Bitcoin Trust (IBIT) across all categories.

Fidelity Wise Origin Bitcoin Fund (FBTC)iShares Bitcoin Trust (IBIT)

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (8.5 vs 8.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) uses Self-custodied by Fidelity Digital Assets key management with Vast majority cold in cold storage and regular penetration testing. Compliance: Fidelity SOC 2 Type 2. Incident history: No incidents.

iShares Bitcoin Trust (IBIT) uses Coinbase Custody (for underlying BTC) key management with 98%+ (via Coinbase) in cold storage and regular penetration testing. Compliance: BlackRock SOC + Coinbase SOC 2. Incident history: No incidents.

Insurance (9.0 vs 8.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) offers Standard ETF/brokerage protections. SIPC for brokerage accounts. via SIPC + Fidelity Digital Assets insurance. Self-custodied by Fidelity Digital Assets with up to $1B insurance.

iShares Bitcoin Trust (IBIT) offers Standard ETF/brokerage protections. SIPC for brokerage accounts. via SIPC (brokerage level). Shares are securities protected by SIPC. Underlying Bitcoin custodied by Coinbase.

Regulatory (10.0 vs 10.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) holds SEC registered, Listed on CBOE and is a qualified custodian operating in United States. SEC-regulated ETF. Fidelity is one of the world's largest financial institutions ($14T+ AUM).

iShares Bitcoin Trust (IBIT) holds SEC registered investment company, Nasdaq listed and is a qualified custodian operating in United States. SEC-regulated ETF. BlackRock is the world's largest asset manager ($10T+ AUM).

Fee Transparency (9.0 vs 9.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) charges 0.25% expense ratio in annual custody fees with Brokerage commission (often $0) per transaction. 0.25% expense ratio. Self-custodied by Fidelity.

iShares Bitcoin Trust (IBIT) charges 0.25% expense ratio in annual custody fees with Brokerage commission (often $0) per transaction. 0.25% annual expense ratio. No direct Bitcoin withdrawal.

Track Record (7.0 vs 7.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) was founded in 2024 and is headquartered in Boston, MA (Fidelity). AUM: $20B+ AUM. Incident history: No incidents.

iShares Bitcoin Trust (IBIT) was founded in 2024 and is headquartered in New York, NY (BlackRock). AUM: $50B+ AUM. Incident history: No incidents.

Withdrawal Flexibility (3.0 vs 3.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) withdrawal fees: Sell shares like any ETF. Minimum account: 1 share (~$80). Supported assets: Bitcoin (indirect via ETF shares).

iShares Bitcoin Trust (IBIT) withdrawal fees: Sell shares like any ETF. Minimum account: 1 share (~$50). Supported assets: Bitcoin (indirect via ETF shares).

Reporting & Audit (9.5 vs 9.5)

Fidelity Wise Origin Bitcoin Fund (FBTC): SOC compliance is Fidelity SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

iShares Bitcoin Trust (IBIT): SOC compliance is BlackRock SOC + Coinbase SOC 2. As a qualified custodian, it meets SEC reporting requirements.

Counterparty Diversification (2.5 vs 2.0)

Fidelity Wise Origin Bitcoin Fund (FBTC) is a etf / indirect exposure provider. Key management: ETF structure. Unique: self-custodied by Fidelity Digital Assets (not outsourced)..

iShares Bitcoin Trust (IBIT) is a etf / indirect exposure provider. Key management: ETF structure. Bitcoin custodied by Coinbase Custody. Shares trade on Nasdaq..

Fees

Fee Comparison

Side-by-side fee breakdown for Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Bitcoin Trust (IBIT).

Fee Type	Fidelity Wise Origin Bitcoin Fund (FBTC)	iShares Bitcoin Trust (IBIT)
Setup Fee	Standard brokerage commission	Standard brokerage commission
Annual Custody	0.25% expense ratio	0.25% expense ratio
Transaction	Brokerage commission (often $0)	Brokerage commission (often $0)
Withdrawal	Sell shares like any ETF	Sell shares like any ETF

Fidelity Wise Origin Bitcoin Fund (FBTC): 0.25% expense ratio. Self-custodied by Fidelity.

iShares Bitcoin Trust (IBIT): 0.25% annual expense ratio. No direct Bitcoin withdrawal.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Fidelity Wise Origin Bitcoin Fund (FBTC)	iShares Bitcoin Trust (IBIT)
0.25% expense ratio	✓	✓
Available in Fidelity retirement accounts	✓	✗
Available in retirement accounts	✗	✓
BlackRock — world's largest asset manager	✗	✓
Coinbase Custody for underlying BTC	✗	✓
Fidelity — $14T+ AUM parent	✓	✗
Largest Bitcoin ETF by AUM	✗	✓
Second-largest Bitcoin ETF	✓	✗
Self-custodied — no third-party custodian	✓	✗
Trades on Nasdaq like a stock	✗	✓
Up to $1B insurance on custody	✓	✗

Recommendation

Who Should Choose Which?

Fidelity Wise Origin Bitcoin Fund (FBTC) is better if you…

✓Are a fidelity customers
✓Are a self-custody etf seekers
✓Are a rias
✓Are a retirement account holders
✓Want: Self-custodied — only major ETF not using third-party
✓Want: Fidelity — $14T+ AUM parent company
✓Want: Up to $1B insurance on underlying Bitcoin

iShares Bitcoin Trust (IBIT) is better if you…

✓Are a traditional investors
✓Are a rias
✓Are a retirement accounts
✓Are a institutional allocators
✓Want: BlackRock — world's most trusted asset manager
✓Want: Largest Bitcoin ETF — maximum liquidity
✓Want: Available in IRAs and 401(k)s

FAQ

Frequently Asked Questions

Is Fidelity Wise Origin Bitcoin Fund (FBTC) or iShares Bitcoin Trust (IBIT) better for Bitcoin custody?

Fidelity Wise Origin Bitcoin Fund (FBTC) scores 7.9 vs 7.6 in our weighted Custody Score. Fidelity Wise Origin Bitcoin Fund (FBTC) leads in 3 of 8 scoring categories. However, the best choice depends on your specific needs: Fidelity Wise Origin Bitcoin Fund (FBTC) is best for Fidelity customers and Self-custody ETF seekers, while iShares Bitcoin Trust (IBIT) suits Traditional investors and RIAs.

What is the difference between Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Bitcoin Trust (IBIT)?

Fidelity Wise Origin Bitcoin Fund (FBTC) is a etf / indirect exposure provider, while iShares Bitcoin Trust (IBIT) is a etf / indirect exposure provider. Fidelity Wise Origin Bitcoin Fund (FBTC) excels in Regulatory, whereas iShares Bitcoin Trust (IBIT) is strongest in Regulatory.

How do Fidelity Wise Origin Bitcoin Fund (FBTC) and iShares Bitcoin Trust (IBIT) fees compare?

Fidelity Wise Origin Bitcoin Fund (FBTC) charges 0.25% expense ratio annual custody fees with Brokerage commission (often $0) transaction fees. iShares Bitcoin Trust (IBIT) charges 0.25% expense ratio annual custody fees with Brokerage commission (often $0) transaction fees.

Which is more secure, Fidelity Wise Origin Bitcoin Fund (FBTC) or iShares Bitcoin Trust (IBIT)?

Fidelity Wise Origin Bitcoin Fund (FBTC) scores 8.5/10 for security while iShares Bitcoin Trust (IBIT) scores 8.0/10. Fidelity Wise Origin Bitcoin Fund (FBTC) uses Self-custodied by Fidelity Digital Assets key management, and iShares Bitcoin Trust (IBIT) uses Coinbase Custody (for underlying BTC).