Compare/Updated Oct 26, 2026, refreshed every trading day
IBIT vs BITO
iShares Bitcoin Trust ETF against ProShares Bitcoin ETF: 3 years of returns, risk and today’s technical read, from Kavout’s own data.
IBIT did better over the 699 trading days: $1,000 invested on Jan 11, 2024 grew to $1,726, versus $1,500 for BITO. IBIT also led in every reported period and all 33 of the last 33 months, with a typical monthly advantage of 0.38 percentage points. The main reason is cost: IBIT’s 0.25% expense ratio is substantially below BITO’s 0.95%, which matters because both funds provide nearly identical Bitcoin exposure, with 0.999 daily correlation and IBIT moving 1.00% per 1% move in BITO. Risk was similarly high: 12-month volatility was 45.0% for IBIT and 44.7% for BITO, while worst drawdowns were -53.3% and -54.4%, respectively. IBIT therefore delivered the stronger return with marginally better drawdown results, while both remained highly volatile.
- Price is above its 200-day average ($42); 50-day at $45.
- RSI 48, neutral. Supertrend says buy. ADX 19, so the trend is weak.
- Price is above its 200-day average ($10); 50-day at $11.
- RSI 48, neutral. Supertrend says buy. ADX 19, so the trend is weak.
Head to head
Which has returned more, IBIT or BITO?
IBIT beat BITO in 33 of the last 33 months; BITO won the other 0. The typical monthly gap was 0.38 points.
Total return by period
Which is riskier?
Both: Oct 6, 2025 to Jun 30, 2026
- 0.999
- correlation of daily moves, 3 years
- 1.00
- IBIT move per 1% in BITO
- 0.999
- correlation, last 12 months
Month by month
Of the last 33 months. The typical gap was 0.38 points.
When did they diverge?
| Month | IBIT | BITO | Gap |
|---|---|---|---|
| December 2024 | -3.9% | -5.1% | +1.20 pts |
| March 2024 | +14.3% | +13.3% | +0.94 pts |
| July 2024 | +8.9% | +8.0% | +0.91 pts |
| January 2025 | +8.8% | +7.9% | +0.88 pts |
Where the numbers come from. 699 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with IBIT and BITO?
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