Onramp vs Fidelity Wise Origin Bitcoin Fund (FBTC) — Head-to-Head Custody Comparison

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

Verdict

Quick Verdict

Onramp scores 8.7 vs Fidelity Wise Origin Bitcoin Fund (FBTC)'s 7.9. Onramp leads in 4 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. Fidelity Wise Origin Bitcoin Fund (FBTC) is better suited for Fidelity customers, Self-custody ETF seekers, RIAs.

8.7

Very GoodCustody Score

Onramp

7.9

GoodCustody Score

Fidelity Wise Origin Bitcoin Fund (FBTC)

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	Fidelity Wise Origin Bitcoin Fund (FBTC)	Winner
Security	20%	9.5	8.5	Onramp
Insurance	15%	9.0	9.0	Tie
Regulatory	15%	8.5	10.0	Fidelity Wise Origin Bitcoin Fund (FBTC)
Fee Transparency	10%	7.5	9.0	Fidelity Wise Origin Bitcoin Fund (FBTC)
Track Record	15%	8.0	7.0	Onramp
Withdrawal Flexibility	10%	8.5	3.0	Onramp
Reporting & Audit	10%	8.5	9.5	Fidelity Wise Origin Bitcoin Fund (FBTC)
Counterparty Diversification	5%	10.0	2.5	Onramp
Overall Score	100%	8.7	7.9	Onramp

Visual

Score Radar

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

OnrampFidelity Wise Origin Bitcoin Fund (FBTC)

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.5)

Onramp uses Multi-institution distributed key management with Varies by underlying custodian in cold storage and regular penetration testing. Compliance: Via underlying custodians (SOC 1 & SOC 2). Incident history: No incidents.

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.

Insurance (9.0 vs 9.0)

Onramp offers Aggregate coverage across multiple custodian insurance policies via Multiple (via underlying custodians). Each underlying custodian maintains their own insurance. Combined coverage exceeds single-custodian limits.

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.

Regulatory (8.5 vs 10.0)

Onramp holds State money transmitter licenses and is a qualified custodian operating in United States. Regulated through underlying custodian partnerships with qualified custodians

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).

Fee Transparency (7.5 vs 9.0)

Onramp charges Contact for pricing in annual custody fees with 0.50% per trade (brokerage) per transaction. Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

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.

Track Record (8.0 vs 7.0)

Onramp was founded in 2021 and is headquartered in Austin, TX. AUM: $1B+. Incident history: No incidents.

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

Withdrawal Flexibility (8.5 vs 3.0)

Onramp withdrawal fees: Contact for pricing. Minimum account: $100,000. Supported assets: Bitcoin.

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).

Reporting & Audit (8.5 vs 9.5)

Onramp: SOC compliance is Via underlying custodians (SOC 1 & SOC 2). As a qualified custodian, it meets SEC reporting requirements.

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

Counterparty Diversification (10.0 vs 2.5)

Onramp is a multi-institution custody provider. Key management: Multi-institution distributed custody — keys and assets spread across multiple independent regulated custodians (BitGo, Coinbase, Fidelity, etc.).

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)..

Fees

Fee Comparison

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

Fee Type	Onramp	Fidelity Wise Origin Bitcoin Fund (FBTC)
Setup Fee	Contact for pricing	Standard brokerage commission
Annual Custody	Contact for pricing	0.25% expense ratio
Transaction	0.50% per trade (brokerage)	Brokerage commission (often $0)
Withdrawal	Contact for pricing	Sell shares like any ETF

Onramp: Also offers Onramp Finance: lowest-cost Bitcoin brokerage at 50bps, 5% APY on cash, 1.5% cashback card

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	Fidelity Wise Origin Bitcoin Fund (FBTC)
0.25% expense ratio	✗	✓
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
Available in Fidelity retirement accounts	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
Fidelity — $14T+ AUM parent	✗	✓
Institutional-grade security and compliance	✓	✗
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Second-largest Bitcoin ETF	✗	✓
Self-custodied — no third-party custodian	✗	✓
Up to $1B insurance on custody	✗	✓
White-glove onboarding for institutions	✓	✗

Recommendation

Who Should Choose Which?

Onramp is better if you…

✓Are a family offices
✓Are a rias
✓Are a hnw individuals
✓Are a institutions
✓Want: Only provider offering true multi-institution custody — no single point of failure
✓Want: Aggregated insurance coverage exceeds any single custodian
✓Want: $1B+ in assets under custody demonstrates institutional trust

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

FAQ

Frequently Asked Questions

Is Onramp or Fidelity Wise Origin Bitcoin Fund (FBTC) better for Bitcoin custody?

Onramp scores 8.7 vs 7.9 in our weighted Custody Score. Onramp leads in 4 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while Fidelity Wise Origin Bitcoin Fund (FBTC) suits Fidelity customers and Self-custody ETF seekers.

What is the difference between Onramp and Fidelity Wise Origin Bitcoin Fund (FBTC)?

Onramp is a multi-institution custody provider, while Fidelity Wise Origin Bitcoin Fund (FBTC) is a etf / indirect exposure provider. Onramp excels in Counterparty Diversification, whereas Fidelity Wise Origin Bitcoin Fund (FBTC) is strongest in Regulatory.

How do Onramp and Fidelity Wise Origin Bitcoin Fund (FBTC) fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) transaction fees. Fidelity Wise Origin Bitcoin Fund (FBTC) charges 0.25% expense ratio annual custody fees with Brokerage commission (often $0) transaction fees.

Which is more secure, Onramp or Fidelity Wise Origin Bitcoin Fund (FBTC)?

Onramp scores 9.5/10 for security while Fidelity Wise Origin Bitcoin Fund (FBTC) scores 8.5/10. Onramp uses Multi-institution distributed key management, and Fidelity Wise Origin Bitcoin Fund (FBTC) uses Self-custodied by Fidelity Digital Assets.