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ETF Comparison

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

A head-to-head comparison of ProShares Bitcoin Strategy ETF and T. Rowe Price Active Crypto 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

BITO has lagged TKNZ over the year to date, posting a -13.02% total return against 25.84%. 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.
SymbolYTDSince Jul 2026
BITO-13.02%23.49%
TKNZ25.84%25.84%

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 Jul 2026” measures every fund from July 16, 2026 — the youngest fund's first trading day — so all funds share one comparison window.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBITOTKNZ
Full nameProShares Bitcoin Strategy ETFT. Rowe Price Active Crypto ETF
IssuerProSharesT. Rowe Price
Last Close$10.74 as of September 4, 2026$31.02 as of September 4, 2026
Distribution rate1.23%—
Distribution Safety Score™ 40—
Safety-Adjusted Yield 0.49%—
Expense ratio0.95%0.75%
AUM$1.76B$21.5M
Distribution frequencyMonthlyAnnual
Underlying indexBitcoin Futures—
ObjectiveSeeks total return through managed exposure to bitcoin futures contracts rather than direct bitcoin holdings, maintaining that futures position through rising, flat and declining markets.Seeks long-term capital appreciation through actively managed exposure to a diversified portfolio of crypto assets and crypto-related investments.
Asset classEquityCrypto
Inception date10/18/202107/16/2026
Beta1.8778—
Last dividend$0.011 declared, pays 09/08/2026—
Ex-dividend date09/01/2026—

— Distribution rate, Safety-Adjusted Yield, last dividend, and ex-dividend date are not yet available because TKNZ launched July 2026; these fields will populate after the first distribution.

Bottom lineWe won't call this one: TKNZ launched July 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional.

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 TKNZ 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.

Learn the mechanics: Crypto covered-call funds, explained

Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

ProShares
ETFs169
Total AUM$122B

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
T. Rowe Price
ETFs33
Total AUM$33.4B

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

T. Rowe Price is a prominent asset manager recognized for its research-driven approach to ETF investing across multiple asset classes. The firm's 20-fund ETF lineup spans bond, dividend, and equity strategies, offering investors options for income generation, growth, and diversified exposure across market segments. Notable offerings include dividend-focused funds and fixed-income ETFs with tickers such as TAGG, TCAF, and TCHP, positioning the issuer as a broad-based provider serving both income-seeking and growth-oriented investors.

See our curated list of related YouTube videos on TKNZ.

See all T. Rowe Price ETFs

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Quick verdict

BITO (ProShares Bitcoin Strategy ETF) and TKNZ (T. Rowe Price Active Crypto ETF) are both ETFs, but they take different approaches.

BITO currently shows a 1.23% distribution yield. TKNZ has not yet established a full distribution history, so a comparable yield figure is not available.

TKNZ is cheaper with an expense ratio of 0.75% compared to 0.95%.

BITO has $1.76B in assets vs $21.5M for TKNZ, but TKNZ only launched July 2026 — AUM comparisons will become more meaningful as it builds a track record.

Deep dive

Yield & income

On a $10,000 investment, BITO would generate roughly $10.25/month, while TKNZ has no reported distribution yield yet, so a monthly income estimate is not available, at current distribution rates.

BITO yield1.23%
TKNZ yield—

Cost & efficiency

Over 10 years on $10,000, BITO would cost approximately $950 in fees vs $750 for TKNZ (simplified, not compounded). The $200.00 difference may be offset by yield or performance.

BITO ER0.95%
TKNZ ER0.75%

Strategy & risk

BITO tracks Bitcoin Futures with a crypto approach, while TKNZ is an actively managed ETF built around digital assets exposure.

BITO beta1.8778
TKNZ beta—

Fund details

BITO is managed by ProShares (launched 10/18/2021) with $1.76B in assets. TKNZ is managed by T. Rowe Price (launched 07/16/2026) with $21.5M in assets.

BITO AUM$1.76B
TKNZ AUM$21.5M
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Frequently asked questions

Which of BITO or TKNZ pays more dividend income?

BITO currently reports a distribution yield, while TKNZ 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 TKNZ?

BITO (ProShares Bitcoin Strategy ETF) tracks Bitcoin Futures with a crypto approach, while TKNZ (T. Rowe Price Active Crypto ETF) is an actively managed ETF built around digital assets exposure. They are issued by ProShares and T. Rowe Price respectively.

Can I hold both BITO and TKNZ?

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 TKNZ?

BITO has an expense ratio of 0.95% while TKNZ charges 0.75%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in BITO vs TKNZ generate?

At current rates, $10,000 in BITO would generate roughly $10.25 per month ($123.00 annually). TKNZ has not established a distribution history yet, so a monthly income estimate is not available.

Which has performed better historically, BITO or TKNZ?

BITO has lagged TKNZ over the year to date, posting a -13.02% total return against 25.84%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BITO vs TKNZ — at a glance

Generated September 5, 2026.

Rowe Price. The structural difference — derivatives overlay versus direct ownership — creates distinct risk and return profiles.

How they differ

The primary distinction is exposure method: BITO uses bitcoin futures contracts exclusively, whereas TKNZ holds actual digital assets and related investments. AUM tells a different story: BITO has $1.76B under management versus $21.5M for TKNZ, reflecting BITO's earlier inception date of 10/18/2021 against TKNZ's 07/16/2026.

Who each is best for

BITO: Fits investors seeking pure bitcoin price exposure through a liquid, established vehicle without direct wallet management, and who view monthly distributions as a cash-flow feature that complements their income needs.

TKNZ: Designed for investors who believe active crypto selection and diversification across multiple digital assets merit the trade-off of higher concentration risk and minimal liquidity, and who can tolerate an unproven manager track record in exchange for discretionary decision-making beyond single-asset futures.

Key risks to know

  • Futures basis risk: BITO's returns depend on the convergence and roll of CME bitcoin futures contracts, which may diverge from spot bitcoin prices due to contango, backwardation, or liquidity conditions. Persistent basis erosion can drag returns below spot bitcoin appreciation.
  • Extreme scale disadvantage for TKNZ: At $21.5M, TKNZ operates at a size that may constrain liquidity, increase trading friction, and make it difficult for the manager to implement a diversified strategy cost-effectively relative to larger competitors.
  • Active management track record unknown: TKNZ has no performance history to evaluate beyond its inception date, making it impossible to assess whether T. Rowe Price's active decisions in crypto add alpha or simply layer costs on a volatile asset class.
  • Regulatory and custody uncertainty: Both funds operate in a crypto regulatory environment that remains unsettled; changes to futures contract trading rules or crypto asset classification could affect either fund's structure or performance. Past performance of either structure does not predict future results in a rapidly evolving regulatory and market environment.

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.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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