The ASX has 11 crypto ETFs holding about $1.1 billion. The six spot Bitcoin funds all returned about −31% in the year to 30 September 2026, within 0.7 points of each other. IBTC is the cheapest at 0.25%, VBTC the largest at $328 million. Ethereum funds fell about 40%. CRYP holds crypto companies, not coins, and lost only 4.8%.
Three kinds of crypto ETF
A crypto ETF lets you own Bitcoin or Ethereum through your ordinary broker or SMSF, with no digital wallet, no private keys and no crypto exchange account. The coins are held by a specialist custodian on the fund's behalf. There are three kinds:
- Spot Bitcoin ETFs (six funds, about $827 million): VBTC, IBTC, EBTC, IBIT, QBTC and BTXX. Each holds Bitcoin and nothing else.
- Spot Ethereum ETFs (three funds, about $89 million): EETH, QETH and IETH.
- Crypto company ETFs (two funds, about $191 million): CRYP and FTEC. These hold listed shares in exchanges, miners, payment firms and companies that keep Bitcoin on their balance sheet.
Every crypto ETF on the ASX
| ETF | Holds | Fee | Size | 1 month | 1 year | 3 years (total) |
|---|---|---|---|---|---|---|
| VBTC VanEck | Bitcoin | 0.45% | $328m | +9.7% | −31.1% | n/a |
| IBTC Monochrome | Bitcoin | 0.25% | $174m | +9.6% | −31.3% | n/a |
| EBTC Global X 21Shares | Bitcoin | 0.45% | $165m | +9.6% | −31.2% | +178.7% |
| IBIT iShares | Bitcoin | 0.39% | $63m | +10.6% | n/a | n/a |
| QBTC Betashares | Bitcoin | 0.45% | $52m | +10.0% | −31.1% | n/a |
| BTXX DigitalX | Bitcoin | 0.49% | $45m | +9.8% | −31.8% | n/a |
| EETH Global X 21Shares | Ethereum | 0.45% | $48m | +12.8% | −39.6% | +45.3% |
| QETH Betashares | Ethereum | 0.45% | $37m | +12.8% | −39.7% | n/a |
| IETH Monochrome | Ethereum | 0.25% | $4m | +12.8% | −40.6% | n/a |
| CRYP Betashares | Crypto companies | 0.67% | $187m | +8.9% | −4.8% | +204.8% |
| FTEC Global X | Fintech and blockchain | 0.69% | $4m | −7.2% | −19.9% | +40.6% |
Total returns to 30 September 2026; 3-year returns are cumulative. IBIT listed on the ASX in November 2025. Source: TMX Australia monthly funds report.
VBTC is the largest crypto ETF on the ASX
Bitcoin ETFs: same coin, different price tags
Because every spot Bitcoin ETF holds the same asset, returns are nearly identical. Over the past year the six funds landed between −31.1% and −31.8%. Over one month all rose about 10%. So the useful comparison is not performance. It is cost.
Bitcoin ETF fees, and what they cost each year on $10,000
- Fee. IBTC at 0.25% is about half the price of VBTC, EBTC and QBTC at 0.45%. On $50,000 that is $100 a year.
- Size and trading cost. VBTC and IBIT had the tightest gap between buy and sell prices in September, about 0.13 to 0.14%. IBTC's was about 0.26%. If you buy once and hold for years, the fee matters more; if you trade often, the spread matters more.
- Tracking. Despite its lower fee, IBTC returned slightly less than VBTC over the year (−31.3% vs −31.1%). Over one year, small differences in trading and custody can outweigh a 0.20% fee gap. Over many years the fee tends to show through.
- Track record. EBTC is the oldest, listed in May 2022, and the only Bitcoin ETF with a 3-year return: +178.7%, or about 41% a year.
Compare the leaders: VBTC vs IBTC and VBTC vs EBTC.
Ethereum and crypto company funds
Ethereum had a harder year than Bitcoin, falling about 40%. Over three years EETH returned +45.3%, about 13% a year, against EBTC's 41% a year. IETH matches IBTC's 0.25% fee but holds only about $4 million, so trading can be thinner.
CRYP is a different animal. It owns shares, not coins: Strategy (the company that holds Bitcoin as a treasury asset) about 12%, Bitmine about 11%, Coinbase about 11%, Circle about 10%, plus Bitcoin miners such as Hut 8 and Cipher Mining. Those businesses held up far better than the coins over the past year, but over three years they rose even more than Bitcoin itself, which shows how geared to crypto prices they can be.
What $10,000 grew to over three years
A rough year for crypto
The risks, plainly
- Volatility. A 31% fall in a year is ordinary for Bitcoin. Falls of more than 70% have happened before. Only invest money you could see halve without changing your plans.
- No income. Spot crypto ETFs pay no dividends or interest. The whole return depends on the price.
- Currency. Bitcoin is priced in US dollars and these ETFs are unhedged, so a rising Australian dollar trims returns.
- Small funds. Several funds hold under $50 million. Small funds can close, and trading costs are higher.
- Regulation and custody. ETFs remove the risk of losing your own keys, but the asset class still faces changing rules worldwide.
Where crypto might fit
Most investors who hold crypto ETFs keep them as a small satellite beside a diversified core, often 1 to 5% of a portfolio. Inside an SMSF, it needs to fit the fund's written investment strategy. A spot Bitcoin ETF suits investors who want the coin itself at low cost; CRYP suits those who prefer listed businesses, accepting they can swing even harder.
For the basics of how Bitcoin and Ethereum work and the difference between spot and equity funds, read crypto ETFs explained. To see how crypto ranked against AI, defence, gold and uranium, see every theme ETF on the ASX. The full live list is on our Bitcoin and crypto ETFs page.
Compare VBTC, IBTC, IBIT and CRYP side by side →
Common questions
What is the cheapest Bitcoin ETF in Australia?
IBTC from Monochrome, at 0.25% a year. IBIT from iShares charges 0.39%, and VBTC, EBTC and QBTC charge 0.45%.
Is VBTC or IBTC better?
Both hold Bitcoin. IBTC is cheaper (0.25% vs 0.45%); VBTC is larger ($328 million vs $174 million) and had a tighter trading spread. Over the past year their returns were within 0.2 points.
Can I hold a Bitcoin ETF in my SMSF?
An ASX-listed crypto ETF can be bought like any other ETF, provided the investment fits your SMSF's investment strategy and the trustee has considered the risk and diversification.
Does CRYP hold Bitcoin?
No. CRYP holds shares in crypto-related companies such as Strategy, Coinbase, Circle and Bitcoin miners. Its returns are linked to crypto prices but it is a share fund.
Joshua Stega is a financial adviser with 20 years' experience and the founder of ETF Adviser. He built ReviewETF to make every Australian ETF easy to find and compare.
General information only. It does not take into account your objectives, financial situation or needs. Consider the PDS and TMD before investing. Past performance is not a reliable indicator of future performance. Data as at 30 September 2026.