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Grayscale Bitcoin Mini Trust ETF (BTC) vs Osprey Bitcoin Trust (OBTC)

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

Grayscale Bitcoin Mini Trust ETF (BTC)4.2/5
VS
Osprey Bitcoin Trust (OBTC)2.8/5
Feature
Grayscale Bitcoin Mini Trust ETF (BTC)Visit
Osprey Bitcoin Trust (OBTC)Visit
Ratings
Our score4.2/52.8/5
User ratingNo reviews yetNo reviews yet
Fees4.52.5
Size & liquidity4.52.5
Issuer & custody4.53.5
Structure & tracking4.54.0
Extras (staking, options)2.52.0
Specs
TickerBTCOBTC
IssuerGrayscaleOsprey Funds
HoldsBitcoinBitcoin
StructureSpot ETFGrantor trust
Expense ratio0.15%0.49%
Assets under management$4.24B (December 2025)$61.8M
Listed onNYSE ArcaNasdaq
Launch date2024-07-312025-12-19
CustodianAnchorage Digital Bank, Coinbase CustodyNot disclosed
Stakes its holdings No No
MarketUnited StatesUnited States
Company
Founded20242019
HeadquartersUnited StatesUnited States
InvestorsNot disclosedNot disclosed
Strengths and weaknesses
Pros
  • Competitive 0.15% annual expense ratio
  • Direct underlying custody through Anchorage Digital Bank and Coinbase Custody
  • Exceeded $4.24B in assets under management by December 2025
  • Holds spot Bitcoin rather than futures or debt instruments
  • 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
  • Standard brokerage accounts cannot withdraw or take delivery of physical Bitcoin
  • Holdings do not generate yield or support staking
  • Restricted to investors with access to United States brokerage platforms
  • Subject to tracking error and secondary market discounts or premiums
  • 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 crypto allocations, Cost-sensitive spot Bitcoin investorsUS brokerage account holders, Retirement account crypto allocations, Investors seeking spot Bitcoin tracking

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