The Hashdex Nasdaq Crypto Index U.S. ETF (NASDAQ:NCIQ) and Fidelity Wise Origin Bitcoin Fund (NYSEMKT:FBTC) both allow investors to gain exposure to the crypto world. But before taking a digital coin dive, here’s a comparison between the two ETFs and what to be aware of when investing in crypto-related funds.
Snapshot (cost & size)
| Metric | NCIQ | FBTC |
|---|---|---|
| Issuer | Hashdex | Fidelity |
| Expense ratio | 0.25% | 0.25% |
| 1-yr return (as of Feb. 7, 2026) | -32.66% | -28.30% |
| AUM | $155.3 million | $14.03 billion |
The 1-yr return represents total return over the trailing 12 months.
Both funds charge the same 0.25% expense ratio, so neither is more affordable on cost alone; yield is not reported for either, so income is not a differentiator.
Performance & risk comparison
| Metric | NCIQ | FBTC |
|---|---|---|
| Max drawdown (1 y) | -36.10% | -33.28% |
| Growth of $1,000 over 1 year | $869 | $796 |
What's inside
Only on the market for barely two years, FBTC is designed to offer exposure to Bitcoin (BTC +2.48%), with the coin as the fund’s only holding.
Nearly on the market a year less than FBTC, NCIQ aims to represent a broader crypto market basket, where Bitcoin accounts for 77% of the fund’s holdings, but other tokens such as Ethereum (ETH +4.18%), XRP (XRP +2.48%), and Solana (CRYPTO:SOL) also carry weight. There is also less than 0.1% of holdings in U.S. dollars.
For more guidance on ETF investing, check out the full guide at this link.
What this means for investors
There are some cautions to take when investing in crypto-related ETFs, with volatility among the biggest. The crypto market is prone to irregular, rapid price movements, including on weekends, which can be reflected in both of the mentioned ETFs. So if the crypto market plummets, these two ETFs’ prices are going down with it.
Another risk with two ETFs is the unregulated cryptocurrency market. Bitcoin has become a staple in various economies around the world, but that doesn’t mean it’s immune to safety issues, such as price manipulation from whales, who are investors who hold significant amounts of Bitcoin (often more than 1,000 BTC). The same goes for other cryptocurrencies, which are even more vulnerable to price manipulation because they receive less government attention.
The crypto market is down right now, but if investors are still bullish on Bitcoin and the overall market in the long term, then these two ETFs can be ideal options for indirect exposure.
