Bitcoin vs. Ethereum ETFs: Price Upside or Network Growth

• Both FBTC and ETHA charge the same 0.25% expense ratio, but FBTC is larger by assets under management

• ETHA posted a smaller one-year loss than FBTC, yet saw a much steeper maximum drawdown

• Both funds track the price of a single crypto asset, with FBTC focused on bitcoin and ETHA on ether

• These 10 stocks could mint the next wave of millionaires ›

FIDELITY WISE ORIGIN BITCOIN FUND (NYSEMKT:FBTC) and iShares Ethereum Trust ETF (NASDAQ:ETHA) both offer pure-play crypto exposure at identical expense ratios, but differ in asset focus, risk profile, and scale.

Both FIDELITY WISE ORIGIN BITCOIN FUND (FBTC) and iShares Ethereum Trust ETF (ETHA) aim to provide investors with straightforward access to the price movements of a single cryptocurrency—bitcoin for FBTC, ether for ETHA—without the need to hold the digital assets directly. This comparison looks at cost, recent returns, risk, and what is inside to help investors decide which may better fit their portfolio objectives.

Beta measures price volatility relative to the S&P 500; beta is calculated from five-year weekly returns. The 1-yr return represents total return over the trailing 12 months.

With both funds priced at a 0.25% expense ratio, neither offers a clear cost advantage, so the decision comes down to differences in exposure, risk, and scale rather than fees.

ETHA delivers direct exposure to ether, with 100% of its portfolio allocated to Ether (CRYPTO:ETH) and no other assets or sector tilts. This single-asset focus means performance is entirely tethered to ether’s price, and the fund has been in operation for 1.6 years. Its top holdings are Ether (CRYPTO:ETH) 100.00% and USD Cash (CASH:USD) 0.00%.

FBTC, in contrast, tracks bitcoin nearly exclusively, holding 99.98% in Bitcoin (CRYPTO:BTC) and a negligible amount in Net Other Assets. Like ETHA, FBTC does not diversify across sectors or asset classes, but it is larger by assets under management and has a longer trading history. Both funds lack additional quirks or overlays and do not currently track a stated index.

For more guidance on ETF investing, check out the full guide at this link.

Bitcoin and Ethereum can trade like the same risk asset for stretches, but the resemblance breaks when the market starts pricing fundamentals instead of momentum. That is the real choice behind the Fidelity Wise Origin Bitcoin Fund and the iShares Ethereum Trust ETF . Both offer single-asset crypto exposure at the same fee, but they tie your portfolio to very different forces once the market stops moving in sync.

Fidelity Wise Origin Bitcoin Fund is a direct bet on Bitcoin’s price. There is no internal cushion and no secondary lever. If Bitcoin rallies, FBTC rallies. If Bitcoin sells off, FBTC takes the full hit. iShares Ethereum Trust ETF is also a single-asset vehicle, but Ether is tied more closely to what happens on the Ethereum network itself. That means ETHA carries an added layer of adoption and ecosystem dependence that can change how it behaves across crypto cycles.

For investors, FBTC fits those who want the cleanest possible exposure to a single asset with a clear narrative. ETHA fits those willing to accept added complexity in exchange for tying returns to a living network. Neither fund offers shelter in a sell-off, and both can draw down sharply when risk appetite fades. In strong crypto phases, bitcoin exposure often tracks broad momentum, while Ethereum exposure can diverge when network activity accelerates or stalls.

Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.

On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:

• Nvidia: if you invested $1,000 when we doubled down in 2009, you’d have $486,764!*

• Apple: if you invested $1,000 when we doubled down in 2008, you’d have $47,187!*

• Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $464,439!*

Right now, we’re issuing “Double Down” alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon.

See the 3 stocks »

*Stock Advisor returns as of January 26, 2026

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

Bitcoin vs. Ethereum ETFs: Price Upside or Network Growth was originally published by The Motley Fool