As gold and silver surged through 2025 and carried that momentum into 2026, prominent precious metals advocates took the opportunity for a victory lap on social media. Among the loudest was Peter Schiff, a longtime gold bull best known for his persistent skepticism toward Bitcoin (BTC) and other cryptocurrencies.
In a post on X, Schiff argued that trimming gold and silver miners near their highs to rotate into beaten-down Bitcoin exchange-traded funds (ETFs) and Bitcoin treasury stocks such as Strategy Inc. (ticker: MSTR) was, in his words, a “big mistake.” That being said, Schiff’s views come with a well-known bias, as he has consistently questioned Bitcoin’s long-term value proposition.
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Still, his comments resonated with some investors after a difficult year for crypto prices. Bitcoin finished 2025 down 6.3% after a volatile stretch, a sharp contrast to the explosive gains that preceded it, including returns of 121% in 2024 and 155% in 2023.
However, it also was not long ago that the cryptocurrency ETF landscape changed materially. In January 2024, U.S. regulators approved the first spot Bitcoin ETFs, which differed from earlier products by holding Bitcoin in custody rather than relying on futures contracts or closed-end trusts.
Despite muted performance across much of the crypto market recently, ETF issuers have remained aggressive, rolling out new products tied to assets ranging from Ether (ETH) to Solana (SOL), XRP (XRP) and Chainlink (LINK), as well as multi-crypto ETFs that allocate across several tokens based on market capitalization.
Product design has also become more specialized. Investors who criticize cryptocurrencies for lacking cash flows can now access ETFs that aim to generate double-digit income by selling options or using futures to monetize volatility, often paying distributions monthly or even weekly.
Others concerned about Bitcoin’s sharp drawdowns can choose hedged ETFs that seek to reduce downside risk using options, accepting lower upside potential in exchange for smoother returns.
Here are seven of the best cryptocurrency ETFs to buy in 2026:
| ETF | Expense ratio | Market value |
| Fidelity Wise Origin Bitcoin Fund (FBTC) | 0.25% | $17.9 billion |
| iShares Bitcoin Trust ETF (IBIT) | 0.25% | $70.2 billion |
| Grayscale Bitcoin Mini Trust ETF (BTC) | 0.15% | $4.3 billion |
| Grayscale CoinDesk Crypto 5 ETF (GDLC) | 0.59% | $537 million |
| Roundhill Bitcoin Covered Call Strategy ETF (YBTC) | 0.96% | $215 million |
| ProShares Bitcoin ETF (BITO) | 0.95% | $2.5 billion |
| Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL) | 0.79% | $1.8 million |
Fidelity Wise Origin Bitcoin Fund (FBTC)
“Looking back at 2016, there was only one option to directly hold Bitcoin within your retirement account,” says Chris Kline, chief operating officer and co-founder of Bitcoin IRA. “Now, there are routes to hold crypto assets in nearly every type of financial account, and the market is better for it.” Even traditional asset managers like Fidelity cashed in with FBTC, which now holds $17.9 billion in assets.
FBTC is neither the cheapest nor the largest spot Bitcoin ETF, but it stands out for how it handles reserves. Rather than outsourcing to a third-party custodian such as Coinbase, the fund self-custodies Bitcoin through Fidelity Digital Assets, an in-house platform that has been operating since 2014. That level of vertical integration may appeal to crypto investors who place a premium on sound infrastructure.
iShares Bitcoin Trust ETF (IBIT)
The title of the largest spot Bitcoin ETF by assets under management belongs to IBIT, which currently holds more than $70 billion. The fund tracks the CME CF Bitcoin Reference Rate — New York Variant and trades with exceptional liquidity, reflected in a 30-day median bid-ask spread of just 0.02%. As of January, IBIT carries a 0.25% expense ratio following the expiration of temporary fee waivers.
IBIT is also notable for being the first spot Bitcoin ETF to have listed options approved in September 2024. This enabled strategies such as covered call writing for income or put buying to hedge downside risk, without the use of Bitcoin futures. The availability of options also makes IBIT easier for ETF issuers to use as a building block for more sophisticated, derivative-based crypto ETF structures.
Grayscale Bitcoin Mini Trust ETF (BTC)
IBIT may be the largest spot Bitcoin ETF by assets under management, but it is not the cheapest following the expiration of its fee waiver. That distinction belongs to BTC, which Grayscale offers at a competitive 0.15% expense ratio. The ETF currently manages $4.3 billion in assets representing roughly 48,493 Bitcoin held in trust, with each share corresponding to approximately 0.00044250 BTC.
BTC did not launch alongside the original wave of spot Bitcoin ETFs in 2024. Instead, it was created as a spinoff from Grayscale’s older Bitcoin ETF, which itself had been converted from a closed-end trust and carried a 1.5% expense ratio. To slow investor outflows driven by those higher fees, Grayscale carved out 10% of the trust’s assets and spun it off in the form of BTC.
Grayscale CoinDesk Crypto 5 ETF (GDLC)
As prominent as Bitcoin is, it is not the only cryptocurrency with real-world use cases today. A range of alternative cryptocurrencies have gained traction due to their roles in decentralized finance, which includes applications such as decentralized exchanges, on-chain lending and borrowing platforms. In response, ETF issuers have begun launching multi-crypto ETFs that hold more than just Bitcoin.
GDLC is one of the more notable examples. According to Grayscale, the ETF’s basket is designed to cover roughly 90% of the investable cryptocurrency market within a single fund. It tracks the CoinDesk 5 Index, which holds, in descending order by weight, Bitcoin, Ether, XRP, Solana and Cardano, all through physically backed spot price exposure. GDLC charges a 0.59% expense ratio.
[Read: Bitcoin vs. Ethereum: Which Is the Better Buy?]
Roundhill Bitcoin Covered Call Strategy ETF (YBTC)
“YBTC offers the potential for high income, as it generates income through a covered call strategy on Bitcoin,” says Dave Mazza, CEO of Roundhill Investments. “This ETF provides upside exposure to Bitcoin, subject to a weekly cap, offering a unique blend of income generation and Bitcoin exposure without the complexities of direct Bitcoin investment or the hassle of trading options directly.”
YBTC’s underlying holdings consist of money market funds for collateral and IBIT call and put options. The high volatility of Bitcoin helps the ETF deliver an above-average 35.5% distribution yield with weekly payouts. However, upside price appreciation is capped, and covered calls do not hedge downside risk well. In addition, YBTC is much pricier than spot Bitcoin ETFs due to a 0.96% expense ratio.
ProShares Bitcoin ETF (BITO)
Before spot Bitcoin ETFs were approved, issuers turned to futures-based structures as a workaround while Grayscale challenged the Securities and Exchange Commission. The result was BITO, the first U.S.-listed Bitcoin-linked ETF, which provided synthetic exposure through Bitcoin futures contracts. That structure created an unusual income profile with a 12-month trailing yield of 78.3%.
Unlike covered call Bitcoin ETFs, BITO’s yield is driven by the mechanics of rolling Bitcoin futures contracts. Each month, the fund sells expiring contracts and buys new ones, which can realize capital gains during rising markets. The ETF then disgorges these as taxable distributions. Those payouts can be volatile, however, and may shrink or disappear entirely during prolonged Bitcoin downturns.
Calamos Laddered Bitcoin Structured Alt Protection ETF (CBOL)
“Against this backdrop of steep drawdowns and extreme volatility, the need for a risk-managed approach has never been higher,” says Matt Kaufman, senior vice president and global head of ETFs at Calamos Investments. “Many investors find themselves caught between the fear of missing out on Bitcoin’s extraordinary gains and the very real risk of suffering devastating losses during its frequent corrections.”
Hedged Bitcoin ETFs such as CBOL can be used as training wheels for newer or more risk-averse investors who want crypto exposure without absorbing punishing drawdowns. This ETF ladders four quarterly Calamos Bitcoin ETFs that are designed to provide 100% downside protection over their respective outcome periods. However, upside participation is capped at 10.2% on a weighted average basis.
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7 Best Cryptocurrency ETFs to Buy originally appeared on usnews.com
Update 01/21/26: This story was published at an earlier date and has been updated with new information.
