# 21Shares Bitcoin Core ETP (CBTC) **Page:** https://fundology.uk/fund/cbtc · ISIN CH1199067674 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, CBTC (21Shares Bitcoin Core ETP, ISIN CH1199067674) closed at £12.36 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the three years to 13/11/2026 its total return was −26.8%, or −33.9% after UK CPIH inflation. ## Summary 21Shares Bitcoin Core ETP is an exchange-traded product from 21Shares, launched in 2022. It tracks the BTC/USD Exchange Rate - USD - Benchmark Price Return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.1% a year — about £10 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. > **Crypto:** Cryptoassets are high-risk and largely unregulated in the UK. Prices can rise and fall very sharply, and you could lose all the money you put in. Latest close: **£12.36** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | CBTC | | ISIN | CH1199067674 | | Also listed as | CBTU (London Stock Exchange, US dollars), 21BC (Xetra, euros) | | Category | Crypto | | Type | ETN / ETP | | Provider | 21Shares | | Tracks | BTC/USD Exchange Rate - USD - Benchmark Price Return | | Income | Accumulating | | Ongoing charge | 0.10% a year (£10 per £10,000) | | Fund size | £433m | | Launched | 2022 | | Domicile | Switzerland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 27/07/2022 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | -30.77% | -33.22% | income reinvested | | 3 years | -26.82% | -33.89% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of 21Shares Bitcoin Core ETP in pounds (price, with income reinvested in the fund): 2025 −15.7%; 2026 to 13/11/2026 −22.3%. Returns of 21Shares Bitcoin Core ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −29.7%; to 30/09/2025: +81.5%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2025 | -15.7% | -18.6% | Price | | 2026 to 13/11/2026 | -22.3% | -24.8% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 44.51% | -41.17% | ## Largest fall Volatility of 21Shares Bitcoin Core ETP in pounds, annualised from weekly returns to 13/11/2026: 44.5% over 1 year. Largest fall in the price of 21Shares Bitcoin Core ETP since May 2024, in pounds: −49.7% from 03/10/2025 to 05/06/2026. The lowest 12-month return of 21Shares Bitcoin Core ETP in pounds (price, with income reinvested in the fund) since May 2024 was −46.4% (12 months to 17/07/2026); the highest was +98.6% (12 months to 05/09/2025). On 13/11/2026 the price of 21Shares Bitcoin Core ETP was 42.5% below its highest weekly close since May 2024 (03/10/2025), in pounds. ## Charges compared with similar funds Ongoing charge of 21Shares Bitcoin Core ETP 0.10% a year. Compared on 14/11/2026, 17 of the 19 other crypto products charge more, 1 the same and 1 less (share classes counted once). ## Funds tracking the same index 4 funds track BTC/USD Exchange Rate - USD - Benchmark Price Return, this one included and share classes counted once; their ongoing charges range from 0.10% to 2.50% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | 21Shares Bitcoin Core ETP (this fund) | 0.10% | -30.8% | -26.8% | — | | 21Shares Bitcoin ETP | 0.15% | -31.7% | — | +3.2% | | Bitcoin Tracker One | 2.50% | -33.9% | +77.2% | +0.8% | | WisdomTree Physical Bitcoin | 0.35% | -31.5% | — | +7.9% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.10%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: no (crypto ETN). Since 06/04/2026 crypto ETNs cannot be added to a stocks and shares ISA (or a Junior ISA). HMRC rules allow them in an Innovative Finance ISA, where a provider offers one, and in a SIPP. Crypto ETNs bought into a stocks and shares ISA before that date may stay there. - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## Questions people ask **What is the ongoing charge of CBTC?** The ongoing charge of CBTC is 0.10% a year — about £10 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of 21Shares Bitcoin Core ETP 0.10% a year. Compared on 14/11/2026, 17 of the 19 other crypto products charge more, 1 the same and 1 less (share classes counted once). **What does CBTC track?** CBTC tracks the BTC/USD Exchange Rate - USD - Benchmark Price Return. **Is CBTC accumulating or distributing?** CBTC is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of CBTC?** The ISIN of CBTC is CH1199067674. An ISIN identifies one exact share class of a fund; CBTC is its ticker on the London Stock Exchange. The same share class is also listed as CBTU (London Stock Exchange, US dollars) and 21BC (Xetra, euros). **What were CBTC’s returns in each of the last five years?** Calendar-year returns of CBTC in pounds (price, with income reinvested in the fund): 2025 −15.7%; 2026 to 13/11/2026 −22.3%. Past performance is not a guide to future returns. **How has CBTC done after inflation?** Over the three years to 13/11/2026 CBTC’s total return was −26.8%, or −33.9% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.