At a glance
ARKB charges 0.21% a year, below the 0.37% average of the 7 funds most like it (the 4th cheapest of 8). It has $1.89B in assets, the 6th largest of that group. Over the past year it returned −29.9% with distributions reinvested (S&P 500: +11.5%), the best of those 8 funds.
The short version
ARK 21Shares Bitcoin ETF (ARKB) holds bitcoin directly and aims to track the CME CF Bitcoin Reference Rate – New York Variant, minus expenses. It is a grantor trust, which is a simple trust that holds one asset for its owners, not a standard 1940 Act fund. Its 0.21% sponsor fee is lower than iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund (0.25% each) but higher than Grayscale Bitcoin Mini Trust (0.15%). It pays no income.
Price history
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ARKB -29.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ARKB price data to Oct 27, 2026 | -7.9% | -29.9% | — | — | — | +21.3% |
- Over the year to Oct 27, 2026, ARKB returned -29.9%, 1st of 8 among similar funds.
- Its worst full calendar year was 2025 (-6.6%); its best was 2025 (-6.6%).
- The deepest fall in its price history was 53.3% (Oct 6, 2025 to Jun 30, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -7.9% |
| 2025 | -6.6% |
| 2024 | +99.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
What's inside
The trust holds bitcoin directly, worth $1.89B as of Jun 30, 2026 (per its 10-Q). It does not hold stocks or bonds, so there is no holdings list.
How it works
ARKB is a passive trust with a single asset. It holds bitcoin and values its shares at 4:00 p.m. ET each business day using the CME CF Bitcoin Reference Rate – New York Variant, a benchmark bitcoin price. There are no holdings to pick, weight or rebalance. The trust sells bitcoin only to pay expenses, to meet redemptions, if the trust closes, or when the law requires it.
Four custodians hold the bitcoin: Coinbase Custody Trust Company, BitGo Bank & Trust, Anchorage Digital Bank and BitGo New York Trust Company. The Bank of New York Mellon holds the cash and handles administration. Large dealers called authorized participants create and redeem shares in blocks of 5,000, mostly for cash. Coinbase, Inc. handles the related bitcoin trades as prime broker. This process helps keep the share price close to the value of the bitcoin the trust holds.
The 0.21% sponsor fee builds up daily and is paid in bitcoin every week, so the amount of bitcoin behind each share slowly shrinks. The sponsor, 21Shares, pays ordinary expenses, but extraordinary costs such as litigation come out of the trust. The trust is not registered under the Investment Company Act of 1940, so it lacks some fund protections. Shareholders have almost no voting rights, and the sponsor can close the trust on 30 days' notice. When the trust sells bitcoin, shareholders owe tax on the sale.
What it really costs
- ARKB charges 0.21% a year, versus an average of 0.37% for the similar funds below (4th of 8, cheapest first).
Structure and tax notes
- Structured as a grantor trust registered under the Securities Act of 1933, not as a 1940 Act investment company, so it lacks some fund-specific investor protections.
- Holds a cryptocurrency directly. Prices can swing far more than stocks, and the fund holds no income-producing assets.
In a retirement portfolio
ARKB holds only bitcoin, which has seen annualized volatility near 50% and a drop of more than half, so it fits at most as a small add-on rather than a core holding.
ARKB's returns depend entirely on the price of bitcoin. It is far more volatile than a stock index fund: its annualized volatility was 48.5% over the year to October 27, 2026. The fund began trading in January 2024, so it has no record through the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. It gained 99.5% in 2024 and lost 6.6% in 2025. It then fell 53.3% from October 6, 2025, to June 30, 2026, and had not recovered by October 27, 2026. Anyone who needed cash from it during that stretch would have taken a loss of about half.
It has made no distributions, so the only way to get money out is to sell shares. Its fee is 0.21% a year. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want bitcoin held directly in a brokerage account, at a 0.21% fee, below the 0.37% average of similar bitcoin funds.
- People keeping bitcoin to a small slice of a diversified portfolio who can handle drops like its 53.3% fall from October 2025 to June 2026.
- Long-term holders who don't need income from this position, since the trust holds no income-producing assets and has made no distributions.
Look elsewhere if
- Retirees who may need to withdraw in a downturn: its 53.3% drop had not recovered as of October 27, 2026.
- Income seekers: it pays no dividends or interest, so any cash must come from selling shares.
- Investors focused on the lowest fee or the largest fund: Grayscale Bitcoin Mini Trust charges 0.15%, and iShares Bitcoin Trust held about $43.4 billion.
Close alternatives
Matched by other funds that hold bitcoin directly.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| ARKB this fund | 0.21% | $1.89B | -29.9% | — |
| IBIT iShares Bitcoin Trust ETF | 0.25% | $43.40B | -30.4% | — |
| FBTC Fidelity Wise Origin Bitcoin Fund | 0.25% | $10.31B | -30.0% | — |
| GBTC Grayscale Bitcoin Trust ETF | 1.5% | $8.14B | -30.8% | — |
| BTC Grayscale Bitcoin Mini Trust ETF | 0.15% | $3.19B | -29.9% | — |
| BITB Bitwise Bitcoin ETF Trust | 0.2% | $2.13B | -30.0% | — |
| BRRR Coinshares Valkyrie Bitcoin Fund | 0% | $342.4M | -30.0% | — |
| BTCO Invesco Galaxy Bitcoin ETF | 0.25% | $315.9M | -30.0% | — |
Questions investors ask
Is ARKB good for retirement?
ARKB is a high-risk holding. At most, it may suit a small part of a retirement portfolio. It holds only bitcoin and pays no income. Its price fell 53.3% between October 6, 2025, and June 30, 2026, and had not recovered as of October 27, 2026. It launched in January 2024, so it has no record through earlier market crashes. Someone who might need cash in a bad year could be forced to sell at a deep loss.
What's the difference between ARKB and IBIT?
Both hold bitcoin directly and are structured as grantor trusts. The main differences are cost and size. ARKB's sponsor fee is 0.21%, and iShares Bitcoin Trust (IBIT) charges 0.25%. IBIT is much larger, with about $43.4 billion in assets compared with ARKB's $1.89 billion, both as of June 30, 2026. Their one-year returns were similar: -29.9% for ARKB through October 27, 2026, and -27.2% for IBIT through October 29, 2026. Because those dates differ, the returns are not a direct comparison.
Does ARKB pay dividends?
No. ARKB has made no distributions. It holds bitcoin and cash, and bitcoin produces no interest or dividends. Any return comes only from changes in bitcoin's price, minus the 0.21% fee. If you want cash from the position, the only way is to sell shares. That matters for retirees who rely on regular income, especially when bitcoin's price is falling.
What is ARKB's expense ratio?
ARKB charges a 0.21% annual sponsor fee on its bitcoin holdings. The fee builds up daily and is paid in bitcoin every week. From that fee, the sponsor pays ordinary costs, including custody, administration, marketing and audit. Extraordinary costs, such as litigation, are charged to the trust separately. An early fee waiver ended in February 2024, when assets passed $1 billion. The 0.21% fee compares with an average of 0.37% for similar bitcoin funds.
Does ARKB actually own bitcoin?
Yes. ARKB holds real bitcoin, not futures contracts. Four custodians hold it for the trust: Coinbase Custody Trust Company, BitGo Bank & Trust, Anchorage Digital Bank and BitGo New York Trust Company. The trust values its shares at 4:00 p.m. ET each business day using the CME CF Bitcoin Reference Rate – New York Variant. It sells bitcoin only to pay expenses, meet redemptions, or if it closes, and shareholders owe tax on those sales.