Bitcoin News
Franklin Templeton’s EZBC fee update
Fee competition and EZBC
Franklin Templeton’s EZBC carries a competitive 0.19% expense ratio. This rate matches the low-cost tier previously held by VanEck’s HODL before its July 31, 2026, waiver ended. I favor this lower fee. WisdomTree’s BTCW fund charges 0.25% for its Bitcoin holdings.
I recommend EZBC.
Investors seeking lower fees might prefer EZBC because its 0.19% expense ratio provides a clear advantage over the 0.25% fee charged by the WisdomTree Bitcoin Fund, which holds Bitcoin directly. You should check the current expense ratio before placing any orders.
Performance and volatility
The 3-month return for EZBC hit 24.11%, which is a clear standout. This outperformed the 7.64% return seen in BTCW over the same timeframe. The 3-month NAV gain for EZBC was between 5% and 8%, which is much lower than the 24.11% market price return.
EZBC remains highly volatile. Its 1-year return dropped 32.34%, whereas BTCW lost 27.29% over that period. The 1-month return for EZBC reached 18.65%, yet BTCW saw a higher 25.54% gain. The YTD return for EZBC sits at -12.00%, while BTCW shows -9.61%. The fund also experienced a maximum drawdown of -53.35%, which narrowly exceeds the -53.37% decline recorded by BTCW.
I find these levels extreme.
| Metric | EZBC | BTCW |
|---|---|---|
| Expense Ratio | 0.19% | 0.25% |
| 3-Month Return | 24.11% | 7.64% |
| YTD Return | -12.00% | -9.61% |
| 1-Month Return | 18.65% | 25.54% |
| 1-Year Return | -32.34% | -27.29% |
| Max Drawdown | -53.35% | -53.37% |
The 52-week range for EZBC spans $33.50 to $73.16. BTCW has a wider range from $61.45 to $133.92. EZBC has a beta of 2.17. The 50-day volatility for EZBC sits at 35.62%. The 200-day volatility reached 37.82%.
As of September 11, 2026, EZBC held $423.7 million in assets. This is more than double the $162.3 million held by BTCW. The 1-day volume for EZBC reached 137.42K. This dwarfs the 1,035 shares traded by BTCW. On September 11, 2026, the EZBC NAV was $44.60. On September 9, 2026, the NAV was $45.29. On September 4, 2026, the NAV was $47.07.
Trading and custody details
EZBC provides reliable exposure to spot Bitcoin via Coinbase custody. The fund consists of a single asset, which accounts for 100.00% of its holdings. I noticed the 1-day volume for EZBC reached 137.42K.
EZBC trades on the Cboe BZX Exchange. Its current NAV per share is $44.60. The 1-month return for EZBC was 18.65%.
Do you think the higher volatility justifies the lower fee?
The 52-week range for EZBC is $33.50 to $73.16. This is much different from the BTCW 52-week range of $61.45 to $133.92. EZBC’s 1-day volume was 137.42K. This volume is significantly higher than the 1,035 shares traded by BTCW. The AUM for EZBC was $437.57 million on September 4, 2026. On August 20, 2026, the AUM was $398.335 million. AUM totaled $342.21 million on August 13, 2026. The NAV on August 13, 2026, was $36.60. On August 25, 2026, the NAV was $45.63. I see high risk.
