Dividend comparison
FBTC vs BITO: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Fidelity Wise Origin Bitcoin Fund and ProShares Bitcoin ETF, side by side. Updated October 21, 2026.
- Fees. FBTC is cheaper at 0.25% a year versus 0.95% for BITO. On $10,000 that is $70 a year less in fees.
- Performance. Over the last 1 year, FBTC returned -25.8% versus -33.1% for BITO, with dividends reinvested. $10,000 would have grown to $7,418 in FBTC and $6,689 in BITO.
- Risk. BITO has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -77.8%, against -53.4% for FBTC.
- Size. FBTC is the larger fund with $15.4 billion in assets, against $1.6 billion for BITO.
Bottom line: FBTC has the edge on these figures, with lower fees, stronger 1-year returns and smaller drawdowns. BITO does not lead on any of the measures compared here.
| Metric | FBTC Fidelity Wise Origin Bitcoin Fund | BITO ProShares Bitcoin ETF |
|---|---|---|
| Dividend yield (TTM) | — | 22.43% |
| Dividend / share (TTM) | — | $2.47 |
| Payout frequency | — | Monthly |
| Last dividend | — | $0.0174 on Oct 7, 2026 |
| Ex-dividend date | — | Oct 1, 2026 |
| Price | $71.72 | $11.01 |
| Beta | 2.14 | 1.74 |
| Max drawdown (5Y) | -53.4% | -77.8% |
| Market cap | $15.48B | $2.22B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.25% | 0.95% |
| Assets under management | $15.45B | $1.61B |
| Number of holdings | — | 5 |
FBTC
—/mo
Yield data unavailable
BITO
$186.91/mo
$2243 /yr at 22.43% yield
| Year | FBTC | BITO |
|---|---|---|
| 2025 | — | $9.5198 |
| 2024 | — | $14.0307 |
Bitcoin has fallen more than 70% from its peak several times, and price swings of 10% in a day are not unusual.
What FBTC vs BITO actually do
It buys front-month CME bitcoin futures and rolls them forward as each contract nears expiry, holding Treasuries as collateral. When longer-dated contracts trade above nearer ones, a condition called contango that has been common in bitcoin futures, each roll sells low and buys high and drags on return relative to spot bitcoin. Fees are around 0.95% a year on top of that roll cost, and its distributions come from collateral interest and realized futures gains rather than from anything the asset pays.
Suits an account that cannot hold spot bitcoin products directly but can hold a futures-based fund. Since spot bitcoin ETFs became available in 2024 the structural case for the futures wrapper is much narrower, and the combination of roll drag and fee means it should not be expected to keep pace with bitcoin itself.
High volatility, structural tracking drag
| Period | FBTC | BITO |
|---|---|---|
| 1 month | 1.50% | 0.82% |
| 3 months | 28.48% | 26.70% |
| Year to date | -5.92% | -9.46% |
| 1 year | -25.82% | -33.11% |
| 3 years | — | 115.46% |
| 5 years | — | -11.21% |
- FBTC
- BITO
Both series indexed to 100 on 2024-01-11 using the adjusted closing price series. Past performance does not guarantee future results.
- FBTC
- BITO
Quick verdict
FBTC has the edge on these figures, with lower fees, stronger 1-year returns and smaller drawdowns. BITO does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is FBTC or BITO better for dividend income?
What is the difference between FBTC and BITO?
Which is cheaper, FBTC or BITO?
Which has performed better, FBTC or BITO?
Which is riskier, FBTC or BITO?
Can I hold both FBTC and BITO?
Where can I compare FBTC vs BITO with my full portfolio?
Related comparisons
For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.