CryptoReview
Submit listing

Bitwise Bitcoin ETF (BITB) vs Osprey Bitcoin Trust (OBTC)

How Bitwise Bitcoin ETF (BITB) vs Osprey Bitcoin Trust (OBTC) compare on our ratings, crypto etf specs, funding, pros and cons.

Bitwise Bitcoin ETF (BITB)4.1/5
VS
Osprey Bitcoin Trust (OBTC)2.8/5
Feature
Bitwise Bitcoin ETF (BITB)Visit
Osprey Bitcoin Trust (OBTC)Visit
Ratings
Our score4.1/52.8/5
User ratingNo reviews yetNo reviews yet
Fees4.52.5
Size & liquidity4.52.5
Issuer & custody4.53.5
Structure & tracking4.04.0
Extras (staking, options)2.52.0
Specs
TickerBITBOBTC
IssuerBitwiseOsprey Funds
HoldsBitcoinBitcoin
StructureSpot ETFGrantor trust
Expense ratio0.2%0.49%
Fee waiver0.00% on the first $1 billion of Trust assets for the first 6 monthsNot disclosed
Assets under management$3.02B$61.8M
Listed onNYSE ArcaNasdaq
Launch date2024-01-102025-12-19
CustodianCoinbase Custody Trust Co., LLCNot disclosed
Stakes its holdings No No
MarketUnited StatesUnited States
Company
Founded20242019
HeadquartersUnited StatesUnited States
InvestorsNot disclosedNot disclosed
Strengths and weaknesses
Pros
  • Competitive 0.20% expense ratio covering custody and administration costs
  • Independent daily proof-of-reserve examinations by an accounting firm
  • Tight trading liquidity with a 0.02% 30-day median bid-ask spread
  • Pledges 10% of fund profits to open-source Bitcoin developers
  • Trades directly on Nasdaq under ticker OBTC
  • Backs shares with 100% spot Bitcoin rather than futures contracts
  • Eligible for tax-advantaged US retirement accounts like IRAs
  • 0.49% total annual expense ratio
Cons
  • Investors cannot redeem fund shares for actual physical bitcoin
  • Not registered under the Investment Company Act of 1940
  • Subject to institutional counterparty concentration with a single crypto custodian
  • Modest fund size of about $61.8M compared to larger spot Bitcoin ETFs
  • Median 30-day bid-ask spread of 0.42% increases trading friction
  • No option for shareholders to withdraw physical Bitcoin directly
  • Exempt from protections provided by the Investment Company Act of 1940
Best forUS brokerage account holders, Retirement and IRA investors, Institutions requiring verified reservesUS brokerage account holders, Retirement account crypto allocations, Investors seeking spot Bitcoin tracking

Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.