What is the expense ratio of BITO vs IBIT?

BITO has an expense ratio of 0.95%, while IBIT has an expense ratio of 0.25%.

BITO vs IBIT

ProShares Bitcoin ETF vs iShares Bitcoin Trust ETF

Last updated: 2026-04-02

ProShares Bitcoin ETF (BITO) is an exchange-traded fund that provides exposure to cryptocurrency securities. It charges a high expense ratio of 0.95%. The fund offers a high dividend yield of 84.26%. Launched in 2021, the fund has a 5-year track record.

AUM: $1.7B ER: 0.95% Yield: 84.26% Since: Oct 18, 2021

IBIT

iShares Bitcoin Trust ETF (IBIT) is an exchange-traded fund that provides exposure to cryptocurrency securities. It charges a moderate expense ratio of 0.25%. Launched in 2024, the fund has a 2-year track record.

AUM: $51.9B ER: 0.25% Yield: N/A Since: Jan 5, 2024

Quick Verdict

IBIT is significantly cheaper at 0.25% vs 0.95% expense ratio, saving you approximately $1.331 per $10,000 invested over 10 years. Over the past year, IBIT has significantly outperformed with a -20.0% return vs -49.4%.

Key Metrics

Metric	BITO	IBIT
Expense Ratio	0.95%	0.25%
Dividend Yield	84.3%	N/A
Fund Family	N/A	N/A
Category	Cryptocurrency	Cryptocurrency

Performance Chart

Indexed to 100 at start (5-year comparison)

BITO -78.4%

IBIT +45.1%

Performance Comparison

Period	BITO	IBIT	Difference
1 Month	-1.78%	-1.42%	-0.36%
3 Months	-24.94%	-24.15%	-0.79%
6 Months	-53.87%	-44.65%	-9.22%
YTD	-24.94%	-24.15%	-0.79%
1 Year	-49.38%	-20.00%	-29.38%
3 Years	-44.15%	+45.10%	-89.25%
5 Years	-78.37%	+45.10%	-123.47%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	BITO Fees	IBIT Fees	You Save
$10.000	10 years	$1.826	$495	$1.331
$10.000	20 years	$7.549	$2.111	$5.438
$10.000	30 years	$23.430	$6.758	$16.671
$50.000	10 years	$9.128	$2.473	$6.655
$50.000	30 years	$117.148	$33.792	$83.356
$100.000	30 years	$234.296	$67.584	$166.712

Risk Metrics

Based on 5 years of daily returns

Metric	BITO	IBIT
Annualized Volatility	57.2%	51.2%
Max Drawdown	-79.7%	-49.4%
Sharpe Ratio	-0.40	0.50

Dividend Comparison

Metric	BITO	IBIT
Annual Dividend (per share)	$7.89	$0.00
Dividend Yield	84.26%	0.00%
Distribution Frequency	Monthly	None

Top Holdings

IBIT Top Holdings

Name	Weight
Grayscale Bitcoin Mini Trust ETF#BTC	100.00%
USD CASHUSD	0.00%

Which One Should You Choose?

Choose IBIT if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose IBIT if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Either works if...

you just need broad cryptocurrency exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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