ProShares Short Bitcoin Strategy ETF (BITI) Performance
BITI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −3.1% since Dec 31, 2025
- 1 year
- +19.1% total return
- 3 years
- −35.9% a year
- Since first price
- −38.6% a year since 2022
BITI trailing returns vs SPY, QQQ, AGG
| Period | BITI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +4.3% | +4.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −21.6% | −27.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −7.4% | −19.9% | +7.8% | +8.4% | −1.5% |
| YTD | −3.1% | −21.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +19.1% | −4.3% | +14.4% | +15.9% | −1.1% |
| 3 years | −73.7%−35.9%/yr | −79.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJun 21, 2022 | −88.0%−38.6%/yr | −90.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BITI vs SPY
From Jun 21, 2022: BITI grew to $1,204, SPY to $21,428.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BITI returns by calendar year
0 of 3 full years positive. Best 2025 (−1.8%), worst 2023 (−66.2%). 2026 is year to date.
BITI annual returns table
| Year | BITI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −3.1% | −33.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −1.8% | −39.6% | +17.7% | +20.8% | +7.2% |
| 2024 | −62.6% | −69.2% | +24.9% | +25.6% | +1.3% |
| 2023 | −66.2% | −67.9% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BITI largest drawdowns
Now 89.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 9, 2022 | −92.2% | Oct 6, 2025 | not yet | 2.9 years | 4.0 years so far |
| Jun 30, 2022 | −26.6% | Aug 12, 2022 | Nov 9, 2022 | 43 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BITI risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | −39.9% | −41.0% |
| Volatility (annualized) | 47.5% | 47.2% |
| Sharpe ratio | -0.90 | -0.94 |
| Sortino ratio | -1.08 | -1.08 |
| Best month | +23.4% | +23.4% |
| Worst month | −31.9% | −31.9% |
| Best 12 months | +63.7% | +63.7% |
| Worst 12 months | −67.8% | −67.8% |
| Positive months | 39% | 39% |
| Beta vs S&P 500 | -1.51 | — |
| Correlation with S&P 500 | -0.39 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BITI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 41 | −67.8% | −49.8% | +63.7% | 24% |
| 3-year (a year) | 17 | −54.4% | −39.9% | −29.1% | 0% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
BITI performance overview
ProShares Short Bitcoin Strategy ETF (BITI) returned +19.1% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −38.6% a year, turning $10,000 into about $1,204. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −92.2%, from Nov 9, 2022 to Oct 6, 2025; the fund has not yet regained that high. BITI finished 0 of its 3 full calendar years with a gain; the best year was 2025 (−1.8%) and the worst 2023 (−66.2%). Volatility has been 47.2% a year.
Related: BITI chart, BITI dividends. See the BITI overview for the latest quote and fund facts.
BITI performance FAQ
What is the BITI return over the past year?
BITI returned +19.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.3%.
How much would $10,000 invested in BITI be worth?
$10,000 invested in BITI at its first recorded close on June 21, 2022 would be worth about $1,204 on October 23, 2026 with distributions reinvested.
What was the worst year for BITI?
The worst calendar year was 2023, with a total return of −66.2%. The best was 2025 at −1.8%.
What is the biggest drawdown of BITI?
The largest peak-to-trough decline was −92.2% between November 9, 2022 and October 6, 2025. It has not yet recovered to that high; it is 89.4% below its peak.
How volatile is BITI?
Over the past 3 years BITI had an annualized volatility of 47.5% and a Sharpe ratio of -0.90 (excess return over 1–3 month T-bills per unit of risk).