ProShares Bitcoin Strategy ETF (BITO) belongs to the Cryptocurrency category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BITO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to BITO
BITO charges 0.95% annually. There are 76 ETFs in the Cryptocurrency category with lower expense ratios, going as low as 0.14%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Morgan Stanley Bitcoin Trust | 0.14% | 281.21M | Apr 2026 | BITO vs MSBT | |
| Grayscale Ethereum Staking Mini ETF | 0.15% | 1.48B | Jul 2024 | BITO vs ETH | |
| Grayscale Bitcoin Mini Trust ETF | 0.15% | 3.37B | Jul 2024 | BITO vs BTC | |
| Franklin Bitcoin ETF | 0.19% | 358.90M | Jan 2024 | BITO vs EZBC | |
| Franklin Ethereum ETF | 0.19% | 34.62M | Jul 2024 | BITO vs EZET |
Best Risk-Adjusted Alternatives to BITO
BITO has a PortfoliosLab risk / return rank of 1. There are 61 ETFs in the Cryptocurrency category with higher risk-adjusted ranks, going as high as 91.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Grayscale Zcash Trust (ZEC) | 91 | — | Oct 2017 | BITO vs ZCSH | |
| Valkyrie Bitcoin Miners ETF | 79 | 395.17M | Feb 2022 | BITO vs WGMI | |
| ProShares Shrt Bitcoin ETF | 41 | 127.37M | Jun 2022 | BITO vs BITI | |
| Proshares Ultrashort Bitcoin ETF | 36 | 188.94M | Apr 2024 | BITO vs SBIT | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 31 | — | Jul 2024 | BITO vs BTCZ |
Top Performing BITO Alternatives (YTD)
BITO is at -32.58% YTD. There are 45 ETFs in the Cryptocurrency category with higher YTD returns, going as high as 92.11%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares UltraShort Ether ETF | 92.11% | 76.32M | Jun 2024 | BITO vs ETHD | |
| Valkyrie Bitcoin Miners ETF | 74.44% | 395.17M | Feb 2022 | BITO vs WGMI | |
| Proshares Ultrashort Bitcoin ETF | 57.69% | 188.94M | Apr 2024 | BITO vs SBIT | |
| ProShares Short Ether Strategy ETF | 55.72% | 20.27M | Nov 2023 | BITO vs SETH | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 52.26% | — | Jul 2024 | BITO vs BTCZ |
Lowest Volatility Alternatives to BITO
BITO has 44.22% 1-year volatility. There are 23 ETFs in the Cryptocurrency category with lower 1-year volatility, going as low as 2.06%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos Bitcoin Structured Alt Protection ETF - Oc... | 2.06% | — | Oct 2025 | BITO vs CBOO | |
| Calamos Laddered Bitcoin 90 Series Structured Alt ... | 3.82% | — | Oct 2025 | BITO vs CBOL | |
| Calamos Bitcoin 90 Series Structured Alt Protectio... | 6.92% | — | Oct 2025 | BITO vs CBXO | |
| FT Vest Bitcoin Strategy Floor15 ETF - October | 12.28% | 7.61M | Sep 2025 | BITO vs BFOC | |
| Calamos Bitcoin 80 Series Structured Alt Protectio... | 12.34% | — | Oct 2025 | BITO vs CBTO |
Lowest Drawdown Alternatives to BITO
BITO has a 1-year max drawdown of -53.50%. There are 33 ETFs in the Cryptocurrency category with shallower 1-year drawdowns, going as shallow as -11.95%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Horizon Kinetics Blockchain Development ETF | -11.95% | 22.14M | Aug 2022 | BITO vs BCDF | |
| REX Crypto Equity Premium Income ETF | -22.47% | 112.87M | Dec 2024 | BITO vs CEPI | |
| ProShares Shrt Bitcoin ETF | -25.28% | 127.37M | Jun 2022 | BITO vs BITI | |
| Global X Bitcoin Trend Strategy ETF | -26.45% | 1.50M | Mar 2024 | BITO vs BTRN | |
| Bitwise Bitcoin Strategy Optimum Roll ETF | -26.51% | 17.91M | Mar 2023 | BITO vs BITC |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, UPRO and span 11 categories. AUM among these funds goes as high as $40B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 51 | 39.27% | 39.74B | Feb 2010 | BITO vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 52 | 28.38% | 14.59B | Jun 2006 | BITO vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 47 | 16.62% | 5.36B | Jun 2009 | BITO vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 50 | 12.57% | 8.02B | Jun 2006 | BITO vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 30 | 6.93% | 11.27B | Oct 2013 | BITO vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 82 | 83.22% | 3.28B | Jan 2007 | BITO vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -40.47% | 1.83B | Feb 2010 | BITO vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -23.04% | 265.17M | Oct 2011 | BITO vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 1 | -61.44% | 340.85M | Apr 2024 | BITO vs BITU | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 54 | 12.97% | 426.74M | Mar 2024 | BITO vs IQQQ |
Often Compared With BITO
Investors most often compare BITO with BTC-USD, IBIT, BTCI. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare BITO with Any Fund or Stock
Compare BITO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair BITO with funds that move differently
ProShares Bitcoin Strategy ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BITO.
Explore BITO Diversifiers