ETF Comparison
GBTC vs BITO: Which Is the Better Pick in 2026?
A head-to-head comparison of Grayscale Bitcoin Trust and ProShares Bitcoin Strategy ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| GBTC | BITO | |
|---|---|---|
| Full name | Grayscale Bitcoin Trust | ProShares Bitcoin Strategy ETF |
| Issuer | — | ProShares |
| Price | $53.05 | $9.36 |
| Distribution yield | 0.00% | 94.83% |
| Expense ratio | 1.50% | 0.95% |
| AUM | $10.3B | $1.8B |
| Distribution frequency | — | Monthly |
| Underlying index | — | Bitcoin Futures |
| Objective | — | Futures-Based |
| Asset class | Equity | Equity |
| Inception date | — | 10/18/2021 |
| Beta | 0.0 | 0.0 |
| Last dividend | — | $0.01 |
| Ex-dividend date | — | 04/01/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
GBTC (Grayscale Bitcoin Trust) and BITO (ProShares Bitcoin Strategy ETF) are both popular -pay income ETFs, but they take different approaches.
BITO offers the higher yield at 94.83% vs 0.00% for GBTC. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
BITO is cheaper with an expense ratio of 0.95% compared to 1.50%.
GBTC is the larger fund by assets ($10.3B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, GBTC would generate roughly $0.00/month while BITO would produce $790.25/month at current distribution rates. Both pay distributions.
Cost & efficiency
Over 10 years on $10,000, GBTC would cost approximately $1,500 in fees vs $950 for BITO (simplified, not compounded). The $550.00 difference may be offset by yield or performance.
Strategy & risk
GBTC tracks — with a — approach, while BITO tracks Bitcoin Futures using a futures-based strategy. Beta is 0.0 for GBTC and 0.0 for BITO, indicating BITO is less volatile relative to the market.
Fund details
GBTC is managed by — (launched —) with $10.3B in assets. BITO is managed by ProShares (launched 10/18/2021) with $1.8B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is GBTC or BITO better for dividend income?
It depends on your goals. BITO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between GBTC and BITO?
GBTC (Grayscale Bitcoin Trust) tracks — with a — strategy, while BITO (ProShares Bitcoin Strategy ETF) tracks Bitcoin Futures with a futures-based approach. They are issued by — and ProShares respectively.
Can I hold both GBTC and BITO?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, GBTC or BITO?
GBTC has an expense ratio of 1.50% while BITO charges 0.95%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in GBTC vs BITO generate?
At current yields, $10,000 in GBTC would generate roughly $0.00 per month ($0.00 annually). The same in BITO would produce about $790.25 per month ($9,483.00 annually).
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