Onramp vs iShares Bitcoin Trust (IBIT) — Head-to-Head Custody Comparison

An independent, data-driven comparison of Onramp and iShares Bitcoin Trust (IBIT) across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Onramp scores 8.7 vs iShares Bitcoin Trust (IBIT)'s 7.6. Onramp leads in 5 of 8 categories.

Onramp is better suited for Family offices, RIAs, HNW individuals. iShares Bitcoin Trust (IBIT) is better suited for Traditional investors, RIAs, Retirement accounts.

8.7

Very GoodCustody Score

Onramp

7.6

GoodCustody Score

iShares Bitcoin Trust (IBIT)

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Onramp	iShares Bitcoin Trust (IBIT)	Winner
Security	20%	9.5	8.0	Onramp
Insurance	15%	9.0	8.0	Onramp
Regulatory	15%	8.5	10.0	iShares Bitcoin Trust (IBIT)
Fee Transparency	10%	7.5	9.0	iShares Bitcoin Trust (IBIT)
Track Record	15%	8.0	7.0	Onramp
Withdrawal Flexibility	10%	8.5	3.0	Onramp
Reporting & Audit	10%	8.5	9.5	iShares Bitcoin Trust (IBIT)
Counterparty Diversification	5%	10.0	2.0	Onramp
Overall Score	100%	8.7	7.6	Onramp

Visual

Score Radar

Visual overlay of Onramp and iShares Bitcoin Trust (IBIT) across all categories.

OnrampiShares Bitcoin Trust (IBIT)

Deep Dive

Category-by-Category Analysis

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

Security (9.5 vs 8.0)

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.

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)

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.

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 (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

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 (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

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 (8.0 vs 7.0)

Onramp was founded in 2021 and is headquartered in Austin, TX. AUM: $1B+. 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 (8.5 vs 3.0)

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

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 (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.

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

Counterparty Diversification (10.0 vs 2.0)

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.).

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 Onramp and iShares Bitcoin Trust (IBIT).

Fee Type	Onramp	iShares Bitcoin Trust (IBIT)
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

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

Features

Feature Comparison

Checklist of features across both providers.

Feature	Onramp	iShares Bitcoin Trust (IBIT)
0.25% expense ratio	✗	✓
1.5% cashback card	✓	✗
5% APY on cash balances	✓	✗
Available in retirement accounts	✗	✓
Bitcoin brokerage services (Onramp Finance)	✓	✗
BlackRock — world's largest asset manager	✗	✓
Coinbase Custody for underlying BTC	✗	✓
Institutional-grade security and compliance	✓	✗
Largest Bitcoin ETF by AUM	✗	✓
Multi-Institution Custody across multiple regulated custodians	✓	✗
No single point of failure	✓	✗
Trades on Nasdaq like a stock	✗	✓
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

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 Onramp or iShares Bitcoin Trust (IBIT) better for Bitcoin custody?

Onramp scores 8.7 vs 7.6 in our weighted Custody Score. Onramp leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Onramp is best for Family offices and RIAs, while iShares Bitcoin Trust (IBIT) suits Traditional investors and RIAs.

What is the difference between Onramp and iShares Bitcoin Trust (IBIT)?

Onramp is a multi-institution custody provider, while iShares Bitcoin Trust (IBIT) is a etf / indirect exposure provider. Onramp excels in Counterparty Diversification, whereas iShares Bitcoin Trust (IBIT) is strongest in Regulatory.

How do Onramp and iShares Bitcoin Trust (IBIT) fees compare?

Onramp charges Contact for pricing annual custody fees with 0.50% per trade (brokerage) 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, Onramp or iShares Bitcoin Trust (IBIT)?

Onramp scores 9.5/10 for security while iShares Bitcoin Trust (IBIT) scores 8.0/10. Onramp uses Multi-institution distributed key management, and iShares Bitcoin Trust (IBIT) uses Coinbase Custody (for underlying BTC).