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.
BITO has lagged IBIT over the trailing twelve months, posting a -30.85% total return against -28.48%. Measured from Jan 2024 — the start of shared available history — IBIT has compounded at 23.89% a year versus 18.19% for BITO. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 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.
Distribution rate and SEC yield
Metric
BITO
IBIT
Forward distribution rate
1.85%
—
Trailing 12-month yield
21.89%
—
30-day SEC yield
0.31%
—
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Not a distribution payer
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.
Seeks total return through managed exposure to bitcoin futures contracts rather than direct bitcoin holdings, maintaining that futures position through rising, flat and declining markets.
Provide exposure to bitcoin price performance through a physically backed trust structure.
Bottom lineChoose BITO if you want higher current income (1.85% while IBIT makes no distribution). Choose IBIT if you want straightforward Bitcoin exposure for the long run.
BITO vs IBIT: bitcoin futures or spot bitcoin?
BITO is managed bitcoin futures. IBIT holds spot bitcoin. Exposure method, not a distribution, is the decision.
BITO
IBIT
Bitcoin sleeve
Managed bitcoin futures
Physically backed spot bitcoin
Expense ratio
0.95%
0.25%
Fund size
$1.73B
$67.1B
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. BITO 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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.
See our curated list of related YouTube videos on BITO.
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.
BITO (ProShares Bitcoin Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both ETFs, but they take different approaches.
BITO currently shows a 1.85% distribution yield. IBIT has not yet established a full distribution history, so a comparable yield figure is not available.
IBIT is cheaper with an expense ratio of 0.25% compared to 0.95%.
They have different reference exposures: BITO is linked to Bitcoin Futures while IBIT is linked to Bitcoin, which means their performance drivers differ.
IBIT is the larger fund by assets ($67.1B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose BITO
ProShares Bitcoin Strategy ETF
Want higher current income — BITO yields 1.85% while IBIT makes no distribution.
Want straightforward Bitcoin exposure for long-term appreciation, not income.
Choose IBIT
iShares Bitcoin Trust ETF
Want straightforward Bitcoin exposure for long-term appreciation, not income.
Want to keep costs low — a 0.25% expense ratio vs 0.95% for BITO.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track BITO & IBIT for free
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On a $10,000 investment, BITO would generate roughly $15.42 cash per distribution, while IBIT has no reported distribution yield yet, so a cash estimate is not available, at current distribution rates.
BITO yield1.85%
IBIT yield—
Cost & efficiency
Over 10 years on $10,000, BITO would cost approximately $950 in fees vs $250 for IBIT (simplified, not compounded). The $700.00 difference may be offset by yield or performance.
BITO ER0.95%
IBIT ER0.25%
Strategy & risk
BITO tracks Bitcoin Futures with a crypto approach, while IBIT tracks Bitcoin with a crypto approach. Beta is 1.8778 for BITO and 1.8887 for IBIT — effectively similar market sensitivity.
BITO beta1.8778
IBIT beta1.8887
Fund details
BITO is managed by ProShares (launched 10/18/2021) with $1.73B in assets. IBIT is managed by iShares (launched 01/11/2024) with $67.1B in assets.
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Frequently asked questions
What is the difference between BITO and IBIT?
BITO (ProShares Bitcoin Strategy ETF) gets bitcoin through futures contracts. IBIT (iShares Bitcoin Trust ETF) holds spot bitcoin. Cost is 0.95% versus 0.25%; size is $1.73B versus $67.1B as of October 2026. Futures roll versus physically backed coins is the decision, not a distribution race.
Which of BITO or IBIT pays more dividend income?
BITO currently reports a distribution yield, while IBIT 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.
Can I hold both BITO and IBIT?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, BITO or IBIT?
BITO has an expense ratio of 0.95% 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 BITO vs IBIT generate?
At current rates, $10,000 in BITO would generate roughly $15.42 cash per distribution ($185.00 annually). IBIT does not pay distributions, so there is no cash income to estimate.
Which has performed better historically, BITO or IBIT?
BITO has lagged IBIT over the trailing twelve months, posting a -30.85% total return against -28.48%. Measured from Jan 2024 — the start of shared available history — IBIT has compounded at 23.89% a year versus 18.19% for BITO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
The choice between them hinges on whether you value income generation or simplicity of underlying exposure. The size gap is enormous—IBIT holds $67.1B in assets compared to BITO's $1.73B, a gap that has widened since IBIT's 01/11/2024 launch just 2 years ago.
IBIT: Designed for investors who want the simplest, most direct bitcoin exposure available in ETF form and have no need for distributions—the structure removes intermediate derivative positions and futures management.
Key risks to know
Futures contango/backwardation drag:BITO's reliance on rolling futures contracts means it absorbs the cost of the futures curve. When bitcoin futures trade in contango (farther contracts trade higher), rolling positions locks in losses; backwardation provides tailwinds but is not guaranteed. IBIT avoids this structural headwind entirely by holding physical bitcoin.
Expense ratio and distribution sustainability:BITO's 1.85% yield, paired with its 0.95% expense ratio, requires both fund performance and futures-generated income to sustain monthly payouts. If futures-based yield dries up or bitcoin underperforms, distributions may compress or lean on return-of-capital treatment.
Valuation and structural moat:IBIT's vastly larger asset base and lower cost create a structural moat that may deepen as capital flows to the cheaper, simpler vehicle. BITO's smaller scale could make it harder to attract new capital in a prolonged bear market. Past performance does not predict future results, and futures-based returns differ structurally from spot price tracking over time.
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.
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