Every Bitcoin ETF Available in 2026: Fees, AUM, and Which One to Pick

Twelve Bitcoin ETFs are now trading on U.S. exchanges. The cheapest charges 0.14% a year. The most expensive charges ten times that. BlackRock alone holds over 806,000 BTC on behalf of its investors. If you searched "Bitcoin ETF list," you want a single page that shows you every fund, every fee, and what separates them — so here it is, updated as of May 15, 2026.

A Bitcoin ETF list is your starting point for comparing every U.S.-listed fund that gives you Bitcoin exposure through a standard brokerage account. The 12 funds currently trading split into two categories: spot ETFs, which hold real Bitcoin, and futures ETFs, which hold contracts. For most investors, the decision is which spot ETF to buy, not whether to buy one at all.

The Complete Bitcoin ETF List: All 12 Funds Ranked by AUM

The table below covers every U.S.-listed Bitcoin ETF as of May 15, 2026, ranked by assets under management. Expense ratios and custody details are sourced from each fund's most recent filings and issuer disclosures.

*VanEck has waived HODL's fee entirely until July 31, 2026, for the first $2.5 billion in AUM.

Note: DEFI (Hashdex Bitcoin ETF) transitioned to a spot structure in late 2024 and holds a small AUM under $200M. BRRR was formerly the Valkyrie Bitcoin Fund and rebranded under Canary Capital in 2025.

Spot vs. Futures: The One Distinction That Changes Everything

Every fund in the Bitcoin ETF list above except BITO holds actual Bitcoin. BITO holds Bitcoin futures contracts, which expire on a monthly schedule and must be continuously "rolled" into the next contract. In markets where future-dated contracts are priced higher than spot (contango), this rolling process generates a persistent hidden drag on returns. Over the two years since the spot ETFs launched in January 2024, BITO has consistently underperformed the spot price of Bitcoin on a total-return basis.

Unless you have a specific reason to want futures exposure — such as a tax structure that benefits from the futures 60/40 long/short-term gains rule — a spot Bitcoin ETF will track Bitcoin's actual price more accurately and at lower total cost.

How to Choose from the Bitcoin ETF List

With 12 options on the Bitcoin ETF list, the decision comes down to three variables: fee, liquidity, and custodian preference.

Fee: The Lowest-Cost Options

Morgan Stanley's MSBT launched on April 8, 2026, and charges 0.14% annually, the lowest fee of any Bitcoin ETF on the market. It undercuts Grayscale's Bitcoin Mini Trust (BTC) at 0.15%, Bitwise's BITB and VanEck's HODL at 0.20%, Franklin's EZBC at 0.19%, and BlackRock's IBIT at 0.25%. For a $10,000 position held for five years, the difference between 0.14% and 0.25% amounts to roughly $55 in fees. Not enormous, but compounding over larger positions and longer timeframes, MSBT's fee advantage is meaningful.

The notable exception to the fee story is Grayscale's GBTC, the original Bitcoin fund converted from a trust in 2024, which still charges 1.50%. That fee made sense when GBTC was the only option; today, there is no rational case to hold GBTC over any other fund in the Bitcoin ETF list unless you have legacy tax considerations from a pre-2024 position.

Liquidity: Why IBIT Still Wins for Active Traders

BlackRock's IBIT trades an average of 52 million shares per day, with a median bid-ask spread of 0.02%. That is exceptionally tight for any ETF, and it matters for investors who trade in size or enter/exit positions quickly. FBTC is the second-most-liquid option. MSBT, despite its fee advantage, had AUM of only $283 million as of mid-May 2026. Its spread widens during off-hours and in volatile sessions. For buy-and-hold investors, MSBT's liquidity is adequate. For active traders executing large positions, IBIT remains the practical choice.

Custodian: One Name Dominates the List

One fact stands out when you look at the full Bitcoin ETF list: Coinbase Custody holds the Bitcoin for the majority of these funds. IBIT, GBTC, ARKB, BITB, BRRR, MSBT, and others all use Coinbase's institutional custody platform. The two exceptions are Fidelity's FBTC, which uses Fidelity's proprietary in-house custody, and Franklin's EZBC and VanEck's HODL, which split custody between Coinbase and Gemini. This concentration is a structural consideration for investors who care about systemic risk — if Coinbase Custody were ever to experience a regulatory freeze or operational failure, the impact would be felt across most of the funds on this list simultaneously.

The 2026 Inflow Story: Why the Bitcoin ETF List Keeps Growing

The Bitcoin ETF list added its most significant new entry in 2026 when Morgan Stanley launched MSBT on April 8, making it the first spot Bitcoin ETF issued by a major U.S. bank. Eric Balchunas, senior ETF analyst at Bloomberg, ranked MSBT's debut in the top 1% of all ETF launches by first-day performance. The fund attracted $283 million in AUM within its first five weeks, entirely from self-directed investors — Morgan Stanley's 16,000 financial advisors had not yet been granted access to offer it through the firm's advisory wealth platform as of mid-May 2026. Once that access opens, Morgan Stanley oversees $9.3 trillion in total client assets, suggesting significant room for further MSBT growth.

Collectively, the funds on the Bitcoin ETF list have experienced a sharp reversal in 2026. After bleeding approximately $6.4 billion in net outflows across January and February — the longest outflow stretch since the funds launched — March turned positive at $1.32 billion in net inflows, and April accelerated to $2.44 billion, the category's strongest month since October 2025, according to data from Investing.com. Cumulative lifetime net inflows across all U.S. spot Bitcoin ETF products have now reached approximately $59.7 billion, with combined AUM crossing $100 billion for the first time in May 2026.

Bitcoin ETF List by Use Case: A Quick Decision Framework

Different funds on the Bitcoin ETF list suit different investor profiles. Here is a practical breakdown:

1. Lowest fee, long-term hold: MSBT (0.14%) — best for patient investors who prioritize cost over liquidity and are comfortable with a newer, smaller fund.

2. Best liquidity, lowest risk of tracking error: IBIT (0.25%) — best for active traders, large positions, and investors who want the most battle-tested fund by volume.

3. Fidelity ecosystem investors: FBTC (0.25%) — best for investors already using Fidelity, who benefit from Fidelity's in-house custody and integrated platform experience.

4. Fee waiver through July 2026: HODL (0.20%, currently waived) — effectively free to hold through July 31, 2026, for new investors entering positions before AUM hits $2.5 billion.

5. Avoid unless you have legacy reasons: GBTC (1.50%) — the fee is indefensible relative to every other spot fund on the Bitcoin ETF list.

FAQ

How many Bitcoin ETFs are there in 2026?

There are 12 U.S.-listed Bitcoin ETFs as of May 2026: 11 spot funds that hold real BTC and one futures-based fund (BITO). The most recent addition is Morgan Stanley's MSBT, which launched April 8, 2026.

Which Bitcoin ETF has the lowest fee?

Morgan Stanley's MSBT charges 0.14% annually, the lowest expense ratio of any Bitcoin ETF currently trading, undercutting Grayscale's Bitcoin Mini Trust (0.15%) and Bitwise's BITB (0.20%).

What is the largest Bitcoin ETF by AUM?

BlackRock's IBIT is the largest Bitcoin ETF with approximately $70.6 billion in AUM as of May 2026, holding over 806,000 BTC — roughly 3.8% of Bitcoin's total circulating supply.

Can I buy a Bitcoin ETF in a Roth IRA?

Yes. IBIT and FBTC are confirmed eligible holdings at Fidelity, Schwab, and most major IRA custodians, allowing tax-free growth within a Roth IRA structure.

Is a Bitcoin ETF the same as buying Bitcoin directly?

No. A Bitcoin ETF tracks Bitcoin's price through a fund wrapper you hold in a brokerage account. You do not own the underlying BTC, cannot use it for transactions, and pay an annual management fee. The benefit is regulatory protection, tax simplicity, and no requirement for a wallet or private key management.

Why is GBTC's fee so much higher than the others?

GBTC was originally launched as a private trust in 2013, long before spot ETF approval was possible. When it converted to an ETF in January 2024, Grayscale maintained its 1.50% fee — more than six times the rate charged by newer entrants on the Bitcoin ETF list. Investors who entered GBTC pre-conversion often remain due to embedded capital gains; new investors have no compelling reason to choose it over alternatives.

What happens to a Bitcoin ETF when Bitcoin's price drops?

Each Bitcoin ETF falls in near-perfect proportion to Bitcoin's spot price decline. During the Q1 2026 drawdown — when BTC fell from roughly $102,000 to under $78,000 — all spot ETFs declined proportionally with no operational disruptions. Unlike leveraged products, spot ETFs cannot lose more than the total value of their BTC holdings.

Conclusion

The Bitcoin ETF list has matured from 11 identical-looking funds launched together in January 2024 to a genuinely competitive market where fee, custodian, liquidity, and issuer reputation all differentiate the options. MSBT's 0.14% fee is a milestone that has pressured every other issuer to justify their pricing. IBIT's $70.6 billion AUM and unmatched liquidity make it the default choice for most investors. FBTC offers a compelling alternative for Fidelity customers who prefer proprietary custody.

Before buying any fund from this Bitcoin ETF list, confirm it is available on your brokerage and check whether you are eligible for tax-advantaged account holding. For investors building a long-term Bitcoin position, the combination of low fees and IRA eligibility makes the spot ETF route more efficient than direct Bitcoin ownership for most use cases.

Stay current on ETF inflows, fund performance, and new product launches at BYDFi CoinTalk, and explore how Bitcoin ETF flows affect BTC price action for deeper market analysis.