Bitcoin ETF Calculator
Convert Bitcoin ↔ IBIT ↔ FBTC ↔ GBTC instantly using live market ratios.
BTC → ETF
BTC / USD Price
Enter a value
IBIT → BTC
IBIT Price
Enter a value
FBTC → BTC
FBTC Price
Enter a value
GBTC → BTC
GBTC Price
Enter a value
Scenario Table
BTC price scenarios around the current level
| BTC | IBIT | FBTC | GBTC |
|---|---|---|---|
| $65000 | $36.66 | $56.29 | $50.03 |
| $70000 | $39.48 | $60.62 | $53.87 |
| $75000 | $42.30 | $64.95 | $57.72 |
| $80000 | $45.12 | $69.28 | $61.57 |
| $85000 | $47.94 | $73.61 | $65.42 |
| $90000 | $50.76 | $77.94 | $69.27 |
| $95000 | $53.58 | $82.27 | $73.11 |
| $100000 | $56.40 | $86.60 | $76.96 |
Calculation Formula
Each ETF tracks a fixed fraction of the reference asset. The ratio drifts slowly over time as fund fees are deducted, so it is recalculated from the latest prices.
IBIT = BTC × 0.00056400
BTC = IBIT ÷ 0.00056400
FBTC = BTC × 0.00086600
BTC = FBTC ÷ 0.00086600
GBTC = BTC × 0.00076962
BTC = GBTC ÷ 0.00076962
How to Use This Calculator
This calculator converts between the Bitcoin spot price and the share price of the three largest spot Bitcoin ETFs. There are four rows, and each one works in a single direction:
- Bitcoin → ETF— enter a Bitcoin price to see what IBIT, FBTC and GBTC would be worth at that level. This answers “if Bitcoin reaches $150,000, what will my IBIT shares be worth?”
- IBIT → Bitcoin — enter an IBIT share price to reverse-calculate the implied Bitcoin price.
- FBTC → Bitcoin and GBTC → Bitcoin — the same conversion using FBTC or GBTC as the input.
Every calculation uses the live ratio derived from the reference prices at the top of the page, so results always reflect current market conditions.
The one thing to know about Bitcoin ETFs
Bitcoin trades 24/7. The ETFs do not.IBIT, FBTC and GBTC trade only on US exchanges between 9:30 and 16:00 ET, Monday through Friday. If you check your brokerage app on a Saturday, the share price you see is Friday’s close — even though Bitcoin itself has been moving the whole time.
This is why the conversion ratio on this page is only sampled while the US market is open. Sampling outside those hours would compare a frozen ETF price against a live Bitcoin price, and the ratio would drift away from reality.
What are IBIT, FBTC and GBTC?
Spot Bitcoin ETFs launched in the United States in January 2024 and let investors hold Bitcoin exposure inside an ordinary brokerage account, without managing keys or using a crypto exchange. The fund holds Bitcoin with a custodian and issues shares that trade like any other stock.
IBIT (iShares Bitcoin Trust, from BlackRock) is the largest by a wide margin. FBTC (Fidelity Wise Origin Bitcoin Fund) is the second largest. GBTC (Grayscale Bitcoin Trust) is the oldest — it traded as a closed-end trust for years before converting — and carries the highest fee at 1.50%.
Unlike gold ETFs, where each share maps to a fixed fraction of an ounce, Bitcoin ETF shares map to a slowly shrinking amount of Bitcoin, because the annual fee is paid by selling a little of the fund’s holdings. The ratio shown on this page is recalculated from live prices, so that drift never affects your result.
Frequently Asked Questions
How do I convert the Bitcoin price to IBIT?▼
Multiply the Bitcoin spot price by the IBIT ratio shown in the Calculation Formula section. For example, if Bitcoin is $100,000 and the IBIT ratio is 0.000560, then IBIT = 100,000 × 0.000560 = $56.00. The calculator applies the current ratio automatically as you type.
Why is IBIT not moving when Bitcoin is?▼
Bitcoin trades 24 hours a day, seven days a week, but IBIT only trades on US exchanges from 9:30 to 16:00 ET, Monday to Friday. Outside those hours the ETF price is frozen at its last close while Bitcoin keeps moving. This is the single biggest difference between holding Bitcoin directly and holding it through an ETF.
What is the difference between IBIT, FBTC and GBTC?▼
All three hold Bitcoin through a custody arrangement and track the spot Bitcoin price. IBIT (BlackRock) is the largest and most liquid with a 0.25% fee. FBTC (Fidelity) also charges 0.25%. GBTC is the oldest — it was a closed-end trust before converting to an ETF in January 2024 — and charges the highest fee at 1.50%, which is why it has seen steady outflows.
Why does the ratio change over time?▼
Each ETF charges an annual management fee, which is paid by selling a small amount of the fund's Bitcoin. That means the amount of Bitcoin backing each share slowly declines, and the ratio of ETF price to Bitcoin price drifts down over time. Recalculating the ratio from live prices, as this calculator does, keeps the conversion accurate.
Are Bitcoin ETF prices exactly proportional to Bitcoin?▼
Not exactly. ETF shares trade on an exchange and can move to a small premium or discount against the value of the Bitcoin they hold, especially during volatile periods or when markets are thin. The calculated value here is a theoretical fair value based on the latest prices, not a guaranteed quote.
How often is the data updated?▼
Reference prices are sampled every five minutes while the US equity market is open, and the page refreshes at most every ten minutes. The timestamp at the top of the calculator shows when the current prices were captured.