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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.

Data updated September 4, 2026

Visual comparison

Key metrics

Projected income on $10K

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

Total returns

BITB has outpaced IBIT over the trailing twelve months, posting a -29.06% total return against -29.07%. Measured from Jan 2024 — when the younger fund began trading — IBIT has compounded at 22.15% a year versus 22.08% 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.
SymbolYTD1YSince Jan 2024Volatility Sharpe Sortino Max drawdown
BITB-11.25%-29.06%22.08%45.3%-0.86-1.16-53.3%
IBIT-11.21%-29.07%22.15%45.4%-0.86-1.16-53.3%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Jan 2024” measures every fund from January 11, 2024 — the youngest fund's first trading day — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBITBIBIT
Full nameBitwise Bitcoin ETFiShares Bitcoin Trust ETF
IssuerBitwise InvestmentsiShares
Last Close$43.31 as of September 4, 2026$45.23 as of September 4, 2026
Distribution rate——
Distribution Safety Score™ ——
Expense ratio0.20%0.25%
AUM$2.91B$60.2B
Distribution frequencyNoneNone
Underlying indexBitcoinBitcoin
ObjectiveTracks 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 classCurrencyEquity
Inception date01/10/202401/11/2024
Beta1.8841.8887

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
ETFs13
Total AUM$6.16B

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, establishing itself as a specialized provider in the emerging digital assets space. The firm's 10-fund lineup spans digital assets (including popular tickers BITB, BITC, and BITQ focused on Bitcoin, cryptocurrency, and Nasdaq-100 crypto exposure), covered call and option income strategies (BTOP, ICOI, IMRA, IMST), and traditional income-focused products. The issuer's niche combines exposure to cryptocurrencies and blockchain assets with systematic income-generation strategies, distinguishing it from traditional broad-market ETF providers.

See our curated list of related YouTube videos on BITB.

See all Bitwise Investments ETFs
iShares
ETFs466
Total AUM$4645B

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

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on IBIT.

See all iShares ETFs

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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 ($60.2B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, BITB has no reported distribution yield yet, so a monthly income estimate is not available, while IBIT has no reported distribution yield yet, so a monthly income 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 $2.91B in assets. IBIT is managed by iShares (launched 01/11/2024) with $60.2B in assets.

BITB AUM$2.91B
IBIT AUM$60.2B
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Frequently asked questions

Which of BITB or IBIT pays more dividend income?

IBIT currently reports a distribution yield, while BITB has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.

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 has not established a distribution history yet, so a monthly income estimate is not available. IBIT has not established a distribution history yet, so a monthly income estimate is not available.

Which has performed better historically, BITB or IBIT?

BITB has outpaced IBIT over the trailing twelve months, posting a -29.06% total return against -29.07%. Measured from Jan 2024 — when the younger fund began trading — IBIT has compounded at 22.15% a year versus 22.08% for BITB. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BITB vs IBIT — at a glance

Generated September 5, 2026.

Overview

BITB and IBIT are both spot bitcoin ETFs launched within one day of each other in January 2024, each holding physical bitcoin in custody. The key distinction is scale: IBIT has become the significantly larger fund by AUM, while BITB charges a slightly lower expense ratio. Both offer direct bitcoin exposure without leverage, derivatives, or income distribution.

How they differ

IBIT dominates on size—$60.2B in assets versus $2.91B for BITB—which typically translates to tighter bid-ask spreads and lower trading friction. Both funds move in tandem with bitcoin's price movements, with nearly identical betas (1.884 for BITB and 1.8887 for IBIT), meaning their volatility profile mirrors bitcoin's swings. Neither distributes income, so returns depend entirely on capital appreciation. The 0.20% expense ratio appeals to buy-and-hold holders comfortable trading in a smaller fund.

IBIT: Designed for investors who prioritize deep trading liquidity and the confidence that comes with backing from one of the world's largest asset managers. The significantly larger AUM reduces execution slippage on entry and exit.

Key risks to know

  • Bitcoin price volatility: Both ETFs move in lockstep with bitcoin's price swings. With betas near 1.9, these funds amplify intraday and multi-month price movements—a 20% drop in bitcoin translates to roughly a 20% drop in fund value.
  • Custodial and security risk: Both funds rely on third-party custodians to hold physical bitcoin. While established custody providers have strong security records, the concentration of assets in a single custodial arrangement remains a point of failure if breaches or operational errors occur.
  • Regulatory uncertainty: Bitcoin's regulatory status remains unsettled in many jurisdictions. Changes to U.S. tax treatment, SEC oversight of spot bitcoin ETFs, or international restrictions could alter the funds' viability or tax efficiency.
  • Holdings overlap: Both funds hold identical underlying asset (bitcoin), so owning both adds no diversification benefit and doubles fee drag relative to holding one. If you value deep liquidity and the backing of a major global issuer, IBIT's $60.2B in AUM reflects the more established option. Both are functionally equivalent ways to own bitcoin directly; the choice hinges on whether fee savings or liquidity and brand confidence matter more to your holding pattern. Past performance of bitcoin does not guarantee future results.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

Crypto covered-call funds, explained How to read a fund's stats NAV erosion, explained

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