ETF Comparison

BITB vs IBIT: Which Is the Better Pick in 2026?

A head-to-head comparison of Bitwise Bitcoin ETF and iShares Bitcoin Trust ETF covering yield, cost, risk, and income potential.

Updated October 16, 2026

How these figures are calculated: methodology.

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

BITB has lagged IBIT over the trailing twelve months, posting a -24.91% total return against -24.87%. Measured from Jan 2024 — the start of shared available history — IBIT has compounded at 22.02% a year versus 21.96% for BITB. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD cumulative	1Y cumulative	Since Jan 2024	Volatility	Sharpe	Sortino	Max drawdown
BITB	-7.06%	-24.91%	21.96%	45.3%	-0.73	-1.01	-49.0%
IBIT	-7.05%	-24.87%	22.02%	45.3%	-0.73	-1.00	-49.0%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jan 2024” measures every fund from January 11, 2024 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Not a distribution payer

BITB (Bitwise Bitcoin ETF) has no distribution rate on file and its distribution frequency is None. BITB is not a payer. The blank yield is not a zero yield. IBIT (iShares Bitcoin Trust ETF) has no distribution rate on file and its distribution frequency is None. IBIT is not a payer. The blank yield is not a zero yield.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	BITB	IBIT
Full name	Bitwise Bitcoin ETF	iShares Bitcoin Trust ETF
Issuer	Bitwise Investments	iShares
Last Close	$44.20 as of October 16, 2026	$46.15 as of October 16, 2026
Distribution rate	—	—
Distribution Safety Score™	—	—
Expense ratio	0.20%	0.25%
AUM	$3.07B	$66.3B
Distribution frequency	None	None
Underlying index	Bitcoin	Bitcoin
Objective	Tracks the value of bitcoin held in custody on behalf of the fund.	Provide exposure to bitcoin price performance through a physically backed trust structure.
Asset class	Currency	Equity
Inception date	01/10/2024	01/11/2024
Beta	1.884	1.8887

Bottom lineBITB and IBIT are nearly interchangeable — both offer very similar bitcoin spot exposure with very similar cost and risk. The clearest tie-breaker is cost: BITB is cheaper at 0.20% vs 0.25%.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

Crypto volatility. BITB and IBIT sit on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Bitwise Investments

ETFs15

Total AUM$7.33B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Bitwise Investments is known for pioneering cryptocurrency and digital asset ETFs, bringing exposure to bitcoin, ethereum, and other blockchain-based assets to mainstream investors. The firm's fund lineup spans digital assets—including single-asset and diversified cryptocurrency funds—alongside income-focused strategies that blend traditional dividend approaches with digital asset themes. The issuer has established a distinctive niche in the crypto ETF space while maintaining a footprint in conventional income investing, offering investors varied exposure levels to both emerging digital asset classes and yield-generating strategies.

See our curated list of related YouTube videos on BITB.

See all ETFs from Bitwise Investments

iShares

ETFs468

Total AUM$4.70T

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares, operated by BlackRock, is one of the largest and most established ETF providers globally, known for offering broad, liquid index-tracking funds across nearly all asset classes and investment styles. The lineup encompasses a comprehensive range of strategies including core equity and bond exposure, dividend and income-focused funds, covered call strategies, ESG and thematic investments, factor-based approaches, alternatives, commodities, and municipal bonds, serving both individual and institutional investors. With numerous popular ticker symbols and extensive diversification across geographies, sectors, and investment objectives, iShares provides one of the market's widest selections of ETFs for building diversified portfolios.

See our curated list of related YouTube videos on IBIT.

See all ETFs from iShares

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Quick verdict

BITB (Bitwise Bitcoin ETF) and IBIT (iShares Bitcoin Trust ETF) are both ETFs, but they take different approaches.

BITB is cheaper with an expense ratio of 0.20% compared to 0.25%.

IBIT is the larger fund by assets ($66.3B), but assets alone do not establish trading costs or liquidity.

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Deep dive

Yield & income

On a $10,000 investment, BITB has no reported distribution yield yet, so a cash estimate is not available, while IBIT has no reported distribution yield yet, so a cash estimate is not available, at current distribution rates.

BITB yield—

IBIT yield—

Cost & efficiency

Over 10 years on $10,000, BITB would cost approximately $200 in fees vs $250 for IBIT (simplified, not compounded). The $50.00 difference may be offset by yield or performance.

BITB ER0.20%

IBIT ER0.25%

Strategy & risk

Both BITB and IBIT wrap Bitcoin with similar strategies (crypto and crypto). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.884 for BITB and 1.8887 for IBIT — effectively similar market sensitivity.

BITB beta1.884

IBIT beta1.8887

Fund details

BITB is managed by Bitwise Investments (launched 01/10/2024) with $3.07B in assets. IBIT is managed by iShares (launched 01/11/2024) with $66.3B in assets.

BITB AUM$3.07B

IBIT AUM$66.3B

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Frequently asked questions

Which of BITB or IBIT pays more dividend income?

Neither BITB nor IBIT currently reports a distribution yield, so neither is an income fund today. Compare them on holdings, cost, and total return instead.

What is the difference between BITB and IBIT?

Both BITB (Bitwise Bitcoin ETF) and IBIT (iShares Bitcoin Trust ETF) track Bitcoin with similar approaches — the labels "crypto" and "crypto" describe closely related mechanics. The real differences show up in yield target (— vs —), expense ratio (0.20% vs 0.25%), and issuer (Bitwise Investments vs iShares).

Can I hold both BITB and IBIT?

You can, but expect significant overlap. Both funds use similar strategies on Bitcoin, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Which has lower fees, BITB or IBIT?

BITB has an expense ratio of 0.20% while IBIT charges 0.25%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in BITB vs IBIT generate?

At current rates, BITB does not pay distributions, so there is no cash income to estimate. IBIT does not pay distributions, so there is no cash income to estimate.

Which has performed better historically, BITB or IBIT?

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BITB vs IBIT — at a glance

Generated October 17, 2026.

Overview

BITB and IBIT are both spot bitcoin ETFs launched in January 2024, holding physical bitcoin in custody to track its price directly. Both charge low fees and neither distributes income, making them functionally similar vehicles for bitcoin exposure.

How they differ

The largest difference is asset base. This size gap may matter for trading liquidity and fund continuity, though volume data isn't available here to confirm tighter spreads or faster execution on the larger fund. On a $100,000 position, that's $50 per year in extra cost for IBIT, trivial in absolute terms but consistent with iShares' institutional pricing. Neither fund distributes, so there's no yield comparison or tax-drag difference from dividend timing.

Who each is best for

BITB: Fits investors who value a lean, independent issuer structure and are comfortable with a smaller asset base; Bitwise's specialized focus on digital assets appeals to those prioritizing a boutique manager's conviction over institutional scale.

IBIT: Fits investors who prefer the operational and financial backing of a large, established index-fund provider and may benefit from iShares' distribution ecosystem and research infrastructure.

Key risks to know

Bitcoin price volatility: Both ETFs carry 1.884 and 1.8887 betas respectively, meaning sharp moves in bitcoin can cause 85%+ daily swings in either direction; neither fund dampens underlying volatility.

Custody and operational risk: Physical bitcoin holdings depend on third-party custodians' security and business continuity; a custody failure or loss of private keys could impair both funds, though major providers use redundancy and insurance.

Regulatory risk for spot bitcoin ETFs: SEC approval and continued regulatory tolerance for spot bitcoin funds remain subject to policy shifts; adverse rulings could force liquidation or restrict trading.

Scale and viability: BITB's smaller AUM raises questions about long-term fund survival and whether Bitwise can retain assets if investor preference consolidates around larger competitors; IBIT's size offers more assurance of ongoing operations.

Counterparty concentration: Both funds rely on a single underlying asset class (bitcoin) with no diversification; performance is entirely dependent on bitcoin's adoption and price trends.

Bottom line

If you prioritize cost and a specialized manager, BITB's 0.20% fee and Bitwise's bitcoin-focused expertise stand out. Both are structurally sound spot vehicles with nearly identical market exposure; the choice hinges on issuer preference and fund size comfort. Past performance in bitcoin does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

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These comparisons follow the Dividend Vision methodology.