BTBT vs. BITO
BTBT (Bit Digital, Inc.) is a stock, while BITO (ProShares Bitcoin Strategy ETF) is Cryptocurrency fund actively managed by ProShares. Over the past 3 years, BTBT returned -25.64%/yr vs 19.76%/yr for BITO. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
BTBT vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, BTBT achieves a -10.58% return, which is significantly higher than BITO's -28.18% return.
BTBT
- 1D
- 0.60%
- 1M
- -2.87%
- 6M
- -22.83%
- YTD
- -10.58%
- 1Y
- -49.25%
- 3Y*
- -25.64%
- 5Y*
- -21.39%
- 10Y*
- —
BITO
- 1D
- 1.17%
- 1M
- 0.36%
- 6M
- -30.25%
- YTD
- -28.18%
- 1Y
- -47.98%
- 3Y*
- 19.76%
- 5Y*
- —
- 10Y*
- —
BTBT vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BTBT Bit Digital, Inc. | -10.58% | -35.49% | -30.73% | 605.00% | -90.13% | -44.53% |
BITO ProShares Bitcoin Strategy ETF | -28.18% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between BTBT and BITO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.65 |
The correlation between BTBT and BITO has been stable across timeframes, ranging from 0.62 to 0.65 - a consistent structural relationship.
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Return for Risk
BTBT vs. BITO — Risk / Return Rank
BTBT
BITO
BTBT vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bit Digital, Inc. (BTBT) and ProShares Bitcoin Strategy ETF (BITO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTBT | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.83 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | -0.84 | +0.11 |
| Martin ratioReturn relative to average drawdown | -1.09 | -1.38 | +0.28 |
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Drawdowns
BTBT vs. BITO - Drawdown Comparison
The maximum BTBT drawdown since its inception was -98.16%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for BTBT and BITO.
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Drawdown Indicators
| BTBT | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -77.86% | -20.30% |
Max Drawdown (1Y)Largest decline over 1 year | -70.02% | -54.47% | -15.55% |
Max Drawdown (3Y)Largest decline over 3 years | -77.08% | -54.47% | -22.61% |
Max Drawdown (5Y)Largest decline over 5 years | -96.92% | — | — |
Current DrawdownCurrent decline from peak | -94.23% | -50.47% | -43.76% |
Average DrawdownAverage peak-to-trough decline | -75.77% | -37.02% | -38.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.98% | 33.31% | +13.67% |
Volatility
BTBT vs. BITO - Volatility Comparison
Bit Digital, Inc. (BTBT) has a higher volatility of 23.40% compared to ProShares Bitcoin Strategy ETF (BITO) at 10.76%. This indicates that BTBT's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTBT | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.40% | 10.76% | +12.64% |
Volatility (6M)Calculated over the trailing 6-month period | 61.83% | 34.39% | +27.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.40% | 44.21% | +44.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 117.51% | 54.85% | +62.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 133.46% | 54.85% | +78.61% |
Dividends
BTBT vs. BITO - Dividend Comparison
BTBT has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 60.59%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 60.59% | 78.29% | 61.59% | 15.14% |
BTBT Bit Digital, Inc. | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BTBT and BITO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTBT has higher volatility (23.40%) compared to BITO (10.76%). In terms of maximum drawdown, BTBT dropped -98.16% vs BITO's -77.86%.
BTBT currently has the higher Sharpe Ratio (-0.58 vs -1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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