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BITU vs BITX

ProShares Ultra Bitcoin ETF

BITUANYSE Arca

2x Bitcoin Strategy ETF

BITXBCboe

Overlap

Expense ratio

BITU −1.80pt a year

BITU0.95%BITX2.75%

Avg volume · 30D

BITX 2.3×the volume

BITU4.37MBITX9.85M

BITU vs BITX Performance

Oct 31, 2025 – Oct 30, 2026

−65.6%BITU−64.7%BITX

Oct 31, 2025 to Oct 30, 2026. BITU −65.6%. BITX −64.7%. Use the arrow keys to read each point.−40%−20%0%Oct 2025Apr 2026Oct 2026
Expense ratio
BITU 0.95%, better
BITX 2.75%
Fund size
BITU $478M
BITX $1.03B
1Y total return
BITU −65.6%
BITX −64.7%, better
Yield (12M)
BITU 53.60%, better
BITX 9.31%
Holdings
BITU 1
BITX 3
Avg volume (30D)
BITU 4.37M sh
BITX 9.85M sh, better
NAV per share
BITU $12.52
BITX $16.19
52W range

ETF.net Grade

BITU: Cost 91, Risk 65, Mission not scored, Tradability 84, Holdings not scored, Durability 78. BITX: Cost 38, Risk 65, Mission not scored, Tradability 99, Holdings not scored, Durability 77.
Pillar letters and Scores for BITU, BITX, with each pillar’s weight
PillarBITUBITX
Cost30% weightA91HigherD38
Mission25% weightNot scoredNot scored
Risk15% weightB65B65
Tradability15% weightA84A99Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA78HigherA77

Rank among 2x Long Crypto funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BITU and BITX are both graded against the same 14 2x Long Crypto funds, so their Grades compare head to head.

2x Long Crypto⁠

Category · 14 funds
See all 14 ›

BITU ranks 1st and BITX 4th of 14 funds in the 2x Long Crypto Category.

  1. Rank 1ABITUProShares Ultra Bitcoin ETFScore 82
  2. Rank 2AETHTProShares Ultra Ether ETFScore 76
  3. Rank 3BBTCLT-Rex 2X Long Bitcoin Daily Target ETFScore 65
  4. Rank 4BBITX2x Bitcoin Strategy ETFScore 61
  5. Rank 5CUXRPProShares Ultra XRP ETFScore 51

Our read on each fund

ETF.net Research

BITUAProShares Ultra Bitcoin ETF

BITXB2x Bitcoin Strategy ETF

In short

BITU ProShares' double-speed bitcoin trade. BITU targets 2x the daily move of the Bloomberg Bitcoin Index using swaps and futures, never the coin itself, for 0.95% inside an ordinary brokerage account.

BITX One of the original 2x bitcoin funds, live since 2023. BITX aims for twice the daily move of a bitcoin futures index, resets that math every day, and trades heavily. High-octane, priced like it, and built for days rather than decades.

Stated mandate

BITU BITU seeks daily investment results corresponding to two times the daily performance of the Bloomberg Bitcoin Index, before fees and expenses.

BITX The Fund seeks daily results equal to twice the daily performance of the S&P CME Bitcoin Futures Daily Roll Index, before fees and expenses.

Why people hold it

  • BITU 0.95%, with gross and net the same, so no expiring waiver is propping up the price. BITX charges 2.75% for the same 2x bitcoin idea. Below the median fee in the leveraged crypto category.
  • A 1940 Act registered fund bought like any stock: no wallet, no exchange account, no private keys to lose.proshares.com
  • The reference point is the Bloomberg Bitcoin Index, Bloomberg's measure of a single bitcoin priced in USD, not a basket or a miner proxy.proshares.com
  • Among the leveraged crypto funds we grade, it stands near the top of the group on cost and day-to-day tradability.
  • BITX Aims for twice the daily move of the S&P CME Bitcoin Futures Daily Roll Index inside an ordinary 1940 Act ETF. No margin account, no wallet, no crypto exchange login.
  • Very actively traded, so getting in and out is rarely the hard part. That matters in a product built around single-day exposure.
  • Trading since 2023, a long operating history for geared crypto, and it makes distributions on a monthly cadence.

Worth knowing

  • BITU The 2x target applies to a single day and resets. Hold longer and volatility compounding takes over, so multi-day results can land meaningfully above or below 2x the index.proshares.com
  • Double the move of one of the most volatile assets traded. That cuts both ways: drawdowns arrive twice as fast.
  • No coins here. Exposure comes from swaps and futures per the prospectus, and the fund's own history only starts in 2024.proshares.com
  • BITX At 2.75% a year, it is the expensive lane to this trade. Its peer group's median is 1.89%, and ProShares' BITU charges 0.98% for 2x bitcoin exposure.
  • The 2x target resets daily. Over longer holds, choppy markets compound against you, and multi-day results can land well away from twice bitcoin's move.
  • The reference is a bitcoin futures index, not spot bitcoin, so futures roll mechanics sit between you and the coin price.

Full BITU profile⁠

Full BITX profile⁠

BITU vs BITX Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BITU vs BITX Cost

Overpaying BITX vs BITU

$23,397

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BITU 0.95%

    $17,869

  • BITX 2.75%

    $41,266

$10,000
30 years

Cost over time

  • BITU 0.95%
  • BITX 2.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K$50K051015202530BITX $41,266BITU $17,869

Year by year

YearBITUBITXOverpaying
10$1,678$4,509$2,831
20$6,322$15,708$9,386
30$17,869$41,266$23,397

Expense ratio

  • 0.95%BITU, cheaper
  • 2.75%BITX
  • Middle half of 2x Long Crypto funds
  • Median 2.02%

BITU cheapest of 14 funds

BITX 9th cheapest of 14 funds

BITU vs BITX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BITU 53.60%, better
BITX 9.31%
Payout (12M)
BITU $6.71
BITX $1.51
Last payment
BITU $0.0088
BITX $0.02
Ex-dividend
BITU Oct 1, 2026
BITX Oct 21, 2026
Paid on
BITU Oct 7, 2026
BITX Oct 22, 2026
Frequency
BITU Monthly
BITX Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

BITUMonthly · 24 paymentsAll BITU payments⁠
One bar per payment. 24 payments from 2024 to 2026 YTD. May 1, 2024 $0.02; Jun 3, 2024 $0.02; Jul 1, 2024 $0.02; Aug 1, 2024 $0.0082; Dec 23, 2024 $0.0045; Feb 3, 2025 $1.21; Mar 3, 2025 $0.79; Jun 2, 2025 $0.58; Jul 1, 2025 $0.18; Aug 1, 2025 $0.97; Sep 2, 2025 $0.49; Oct 1, 2025 $0.33; Nov 3, 2025 $0.40; Dec 1, 2025 $0.43; Dec 24, 2025 $5.73; Feb 2, 2026 $0.03; Mar 2, 2026 $0.02; Apr 1, 2026 $0.01; May 1, 2026 $0.01; Jun 1, 2026 $0.01; Jul 1, 2026 $0.01; Aug 3, 2026 $0.02; Sep 1, 2026 $0.01; Oct 1, 2026 $0.0088. Use the arrow keys to read each point.$0$52026YTD
BITXMonthly · 30 paymentsAll BITX payments⁠
One bar per payment. 30 payments from 2024 to 2026 YTD. May 22, 2024 $0.97; Jun 25, 2024 $0.86; Jul 24, 2024 $0.68; Aug 28, 2024 $0.63; Sep 26, 2024 $0.63; Oct 29, 2024 $0.59; Nov 26, 2024 $0.61; Dec 16, 2024 $0.58; Jan 29, 2025 $0.09; Feb 26, 2025 $0.06; Mar 27, 2025 $0.53; Apr 28, 2025 $0.54; May 28, 2025 $0.52; Jun 26, 2025 $0.54; Jul 29, 2025 $0.61; Aug 27, 2025 $0.62; Sep 26, 2025 $0.61; Oct 29, 2025 $0.57; Nov 25, 2025 $0.57; Dec 15, 2025 $0.74; Jan 21, 2026 $0.03; Feb 18, 2026 $0.02; Mar 18, 2026 $0.02; Apr 22, 2026 $0.02; May 20, 2026 $0.02; Jun 17, 2026 $0.02; Jul 22, 2026 $0.01; Aug 19, 2026 $0.01; Sep 23, 2026 $0.02; Oct 21, 2026 $0.02. Use the arrow keys to read each point.$0$52026YTD

BITU vs BITX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BITU 94.2%since May 2024BITX 106.3%
Return per unit of riskSharpe ratio, 3 years
BITU 0.20since May 2024BITX 0.49
Worst fallMax drawdown, 5 years
BITU −83.4%since Apr 2024BITX −83.4%since Jun 2023Same figure. Both funds show the same value, so neither comes out ahead.
Market sensitivityBeta, 5 years
BITU 3.42BITX 3.22

BITU and BITX in the news

All news⁠

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