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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 21, 2026

ProShares
ETFs165
Total AUM$120B

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
ETFs477
Total AUM$4543B

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

BITOIBIT
Full nameProShares Bitcoin Strategy ETFiShares Bitcoin Trust ETF
IssuerProSharesiShares
Last Close$8.82 as of July 21, 2026$36.89 as of July 21, 2026
Distribution yield1.41%0.00%
Distribution Safety Score™ 37—
Expense ratio0.95%0.12%
AUM$1.40B$47.2B
Distribution frequencyMonthlyNone
Underlying indexBitcoin FuturesBitcoin
ObjectiveFutures-BasedProvide exposure to bitcoin price performance through a physically backed trust structure.
Asset classEquityEquity
Inception date10/18/202101/11/2024
Beta1.87781.8887
Last dividend$0.0104—
Ex-dividend date07/01/2026—

Bottom lineChoose BITO if you want higher current income (1.41% while IBIT makes no distribution). Choose IBIT if you want straightforward Bitcoin exposure for the long run.

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Visual comparison

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 -46.36% total return against -44.38%. Measured from Jan 2024 — when the younger fund began trading — IBIT has compounded at 13.80% a year versus 8.47% for BITO. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1YSince Jan 2024Volatility Sharpe Sortino Max drawdown
BITO-28.75%-46.36%8.47%44.4%-1.51-1.97-54.5%
IBIT-27.58%-44.38%13.80%44.8%-1.43-1.86-53.3%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 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 1.41% 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 ($47.2B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose BITO

ProShares Bitcoin Strategy ETF

  • Want higher current income — BITO yields 1.41% 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 0.12% 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.

Deep dive

Yield & income

On a $10,000 investment, BITO would generate roughly $11.75/month, while IBIT has no reported distribution yield yet, so a monthly income estimate is not available, at current distribution rates.

BITO yield1.41%
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 $1.40B in assets. IBIT is managed by iShares (launched 01/11/2024) with $47.2B in assets.

BITO AUM$1.40B
IBIT AUM$47.2B
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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 — 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 0.12%. 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 $11.75 per month ($141.00 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?

BITO has lagged IBIT over the trailing twelve months, posting a -46.36% total return against -44.38%. Measured from Jan 2024 — when the younger fund began trading — IBIT has compounded at 13.80% a year versus 8.47% for BITO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BITO vs IBIT — at a glance

Generated July 2026 from current fund data.

Overview

BITO and IBIT both track Bitcoin's price but through fundamentally different structures. BITO uses Bitcoin futures contracts managed by ProShares, while IBIT holds actual Bitcoin through a physically backed trust structure. The choice between them hinges on expense costs, income generation, and how directly you want to own the underlying asset.

How they differ

The biggest difference is their underlying mechanism: BITO gains Bitcoin exposure via CME futures contracts, while IBIT holds actual Bitcoin coins in custody. That structural gap creates cascading differences. IBIT charges just 0.12% annually versus BITO's 0.95%—a sevenfold difference on a $10,000 position. BITO pays a 1.44% distribution yield and rebalances monthly, while IBIT distributes nothing and simply appreciates with Bitcoin's price. IBIT has grown to $48.6B in assets since its January 2024 launch, dwarfing BITO's $1.44B, reflecting investor preference for spot Bitcoin exposure over futures-based strategies.

Who each is best for

BITO: Fits investors comfortable with futures-based replication who value monthly income distributions and don't mind higher ongoing costs for that cash flow.

IBIT: Designed for investors seeking the lowest-cost, most direct Bitcoin exposure without needing current income, and who prefer to hold an asset backed by actual Bitcoin rather than derivative contracts.

Key risks to know

  • Futures basis risk (BITO only). Bitcoin futures prices don't always track spot Bitcoin perfectly, especially over longer holding periods. Persistent contango in the futures market—where future contracts trade above spot—can drag on returns if BITO must roll contracts at unfavorable prices.
  • Expense drag (BITO). A 0.95% annual fee compounds significantly over time. On a 10-year horizon with Bitcoin's historical volatility, that cost can exceed 10% of cumulative returns before trading costs.
  • Custody and operational risk (IBIT). While iShares uses regulated custodians for Bitcoin holdings, any operational failure or security breach at the custody provider could affect fund assets. This risk is inherent to any physically backed Bitcoin product.
  • Regulatory uncertainty. Bitcoin itself remains subject to evolving U.S. regulatory treatment. Changes in tax code, reporting requirements, or commodity classification could alter either fund's operational structure or tax efficiency.
  • Market concentration. Both funds' returns mirror Bitcoin, which itself is volatile and subject to sentiment swings unrelated to underlying utility or adoption.

Bottom line

If you want the lowest cost and don't need monthly income, IBIT's spot structure and 0.12% expense ratio are hard to match. If monthly distributions matter to you and you're comfortable with futures mechanics and higher fees, BITO fills that niche—though the 0.83% annual cost difference means you're paying meaningfully for that income. Past performance doesn't predict future results; both funds move with Bitcoin price, not with broader equity markets.

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

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