ETF Comparison

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

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

Data updated July 4, 2026

ProShares

ETFs165

Total AUM$123B

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.

See all ProShares ETFs

iShares

ETFs481

Total AUM$4451B

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

Side-by-side snapshot

	BITO	IBIT
Full name	ProShares Bitcoin Strategy ETF	iShares Bitcoin Trust ETF
Issuer	ProShares	iShares
Last Close	$8.34 as of July 4, 2026	$34.87 as of July 4, 2026
Distribution yield	1.49%	0.00%
Distribution Safety Score	37	—
Expense ratio	0.95%	0.12%
AUM	$1.44B	$48.6B
Distribution frequency	Monthly	None
Underlying index	Bitcoin Futures	Bitcoin
Objective	Futures-Based	Provide exposure to bitcoin price performance through a physically backed trust structure.
Asset class	Equity	Equity
Inception date	10/18/2021	01/11/2024
Beta	1.8778	1.8887
Last dividend	$0.0104	—
Ex-dividend date	07/01/2026	—

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Key metrics

Projected income on $10K

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

Total returns

BITO has lagged IBIT over the trailing twelve months, posting a -43.93% total return against -41.73%. Measured from Jan 2024 — when the younger fund began trading — IBIT has compounded at 11.52% a year versus 6.16% for BITO. Figures are total returns: price change plus every distribution reinvested.

Symbol	YTD	1Y	Since Jan 2024	Volatility	Sharpe	Sortino	Max drawdown
BITO	-32.72%	-43.93%	6.16%	44.6%	-1.40	-1.84	-54.5%
IBIT	-31.55%	-41.73%	11.52%	44.8%	-1.31	-1.72	-53.3%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 2, 2026. YTD and 1Y are cumulative; longer windows 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.

Quick verdict

BITO (ProShares Bitcoin Strategy ETF) and IBIT (iShares Bitcoin Trust ETF) are both ETFs, but they take different approaches.

BITO currently shows a 1.49% 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 0.12% compared to 0.95%.

They track different benchmarks: BITO is linked to Bitcoin Futures while IBIT tracks Bitcoin, which means their performance drivers differ.

IBIT is the larger fund by assets ($48.6B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, BITO would generate roughly $12.42/month, while IBIT has no reported distribution yield yet, so a monthly income estimate is not available, at current distribution rates.

BITO yield1.49%

IBIT yield0.00%

Cost & efficiency

Over 10 years on $10,000, BITO would cost approximately $950 in fees vs $120 for IBIT (simplified, not compounded). The $830.00 difference may be offset by yield or performance.

BITO ER0.95%

IBIT ER0.12%

Strategy & risk

BITO tracks Bitcoin Futures with a futures-based approach, while IBIT tracks Bitcoin with a crypto approach. Beta is 1.8778 for BITO and 1.8887 for IBIT, indicating BITO is less volatile relative to the market.

BITO beta1.8778

IBIT beta1.8887

Fund details

BITO is managed by ProShares (launched 10/18/2021) with $1.44B in assets. IBIT is managed by iShares (launched 01/11/2024) with $48.6B in assets.

BITO AUM$1.44B

IBIT AUM$48.6B

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Frequently asked questions

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.

What is the difference between BITO and IBIT?

BITO (ProShares Bitcoin Strategy ETF) tracks Bitcoin Futures with a futures-based approach, while IBIT (iShares Bitcoin Trust ETF) tracks Bitcoin with a crypto approach. They are issued by ProShares and iShares respectively.

Can I hold both BITO and IBIT?

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, BITO or IBIT?

BITO has an expense ratio of 0.95% while IBIT charges 0.12%. 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 $12.42 per month ($149.00 annually). IBIT has not established a distribution history yet, so a monthly income estimate is not available.

Which has performed better historically, BITO or IBIT?

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BITO vs IBIT — at a glance

Generated June 2026 from current fund data.

Overview

BITO and IBIT both offer Bitcoin exposure through ETF wrappers, but they use fundamentally different mechanics: BITO tracks Bitcoin futures contracts and distributes 2.09% annually, while IBIT holds actual Bitcoin directly and passes through no distributions. IBIT launched in January 2024 as a spot Bitcoin trust; BITO preceded it by over two years using a futures-based strategy. The choice between them hinges on whether you prioritize yield-generating mechanics or direct physical Bitcoin ownership.

How they differ

The biggest distinction is structural. BITO uses Bitcoin futures contracts (CME-traded derivatives) and generates a 2.09% distribution yield from rolling positions and fund operations. IBIT holds actual Bitcoin in a trust vault and distributes nothing—your return comes entirely from Bitcoin's price movement. Second, IBIT's expense ratio is 0.12% versus BITO's 0.95%, a meaningful gap that compounds over time. Third, IBIT has grown to $48.6B in assets since its January 2024 launch, dwarfing BITO's $1.44B; larger AUM can mean tighter bid-ask spreads and lower trading friction, though BITO's longer track record (October 2021) offers more performance history to examine.

Who each is best for

BITO: Fits investors seeking a regular income stream from Bitcoin exposure and who are comfortable accepting the tracking basis and roll costs inherent in a futures wrapper. Works for those building a diversified portfolio where a modest distribution helps offset the volatility.

IBIT: Designed for investors who want pure spot Bitcoin price exposure without distributions, preferring capital appreciation to yield. Aligns with those who value simplicity, lower fees, and the certainty of holding actual Bitcoin rather than derivative positions.

Key risks to know

Futures tracking basis risk (BITO). Bitcoin futures premiums and contango can cause the fund to underperform spot Bitcoin prices, especially in rising markets where contract roll costs bite hardest.

NAV erosion from distributions (BITO). A 2.09% distribution yield funded partly by realized gains and fund operations will gradually erode NAV if Bitcoin prices don't appreciate faster than the distribution rate.

Structural counterparty and custody risk. IBIT relies on Bitcoin's custody structure and the issuer's trust mechanics; BITO depends on futures exchanges and clearing house operations. Either can experience operational disruptions.

Extreme price volatility and leverage amplification. Both funds carry beta near 1.89, meaning they amplify Bitcoin's 24-hour swings. This is not garden-variety equity volatility; intraday drawdowns can test position sizing discipline.

Regulatory and tax treatment uncertainty. Bitcoin's regulatory status remains in flux; futures contracts and spot trusts may receive different tax treatment, and future regulatory changes could shift the relative economics of each strategy.

Bottom line

If you want Bitcoin price exposure with a built-in income stream and don't mind futures-based tracking, BITO's 2.09% yield is relevant; if you prioritize simplicity, lower costs, and direct Bitcoin ownership, IBIT's spot structure and 0.12% fee are a cleaner fit. Past performance doesn't guarantee future results, and both funds track a volatile, speculative asset class.

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