BITO Dividend and Yield: $2.47 Over 12 Months, $0.017 in October
BITO's monthly distribution added up to about $2.47 a share over the past year, but October's payout was under two cents. Here is where the money comes from, why the quoted yield swings from 22% to over 60%, and what it means for holders.
Does BITO pay a dividend?
Yes, monthly. BITO, ProShares' bitcoin futures ETF, holds front-month CME bitcoin futures rather than bitcoin, and it distributes the taxable income those futures generate. CNBC's quote page lists $2.47 a share paid over the trailing 12 months and a most recent distribution of $0.0174 a share, with an ex-dividend date of October 1, 2026.
That gap is the whole story. ProShares' fact sheet warns that the distribution amount "may change significantly from month to month" and that in some months the fund may pay nothing at all. BITO is not a fund with a steady payout policy; it hands back what its futures earned.
| BITO fact | Figure | Source |
|---|---|---|
| Distribution frequency | Monthly | ProShares |
| Paid, trailing 12 months | $2.47 a share | CNBC |
| Latest distribution (ex-date Oct 1) | $0.0174 a share | CNBC |
| Management fee | 0.95% | ProShares prospectus |
| Total annual operating expenses | 1.01% | ProShares prospectus |
| Net assets (Oct 16) | about $1.60 billion | ProShares |
Why is BITO's yield so high?
Because the payout is a by-product of bitcoin's past gains, not interest or a coupon. BITO is a registered fund, so it passes its realized taxable income to shareholders instead of paying tax on it. When bitcoin futures rise, the fund books gains as it rolls each expiring contract into the next one, and those gains flow out as distributions. CoinDesk reported in 2023 that BITO had begun paying its taxable income as monthly dividends, which offset much of the drag from rolling futures.
A yield figure then divides those payouts by the share price. If a strong stretch for bitcoin produced large monthly distributions, the trailing yield looks enormous even after the payouts shrink. That is why the October payout of under two cents sits next to a 12-month total of $2.47. The flip side also holds: in a falling market the futures have fewer gains to distribute, and the payout drops. Spot bitcoin funds have been in a risk-off stretch through October, as tracked in Bitcoin ETF flows this week.
What is BITO's dividend yield?
It depends on who calculates it and when. CNBC showed 22.45% in October. ProShares' own fund page showed a 12-month yield of 61.68% as of July 31, 2026, and later snapshots showed about 38%. ProShares defines its 12-month yield as the last 12 months of dividends divided by the latest month-end NAV plus any capital gain distributions over the period. Quote sites that annualize the latest month instead can print very different numbers.
None of these is a forecast. A trailing yield tells you what bitcoin futures earned last year, not what BITO will pay next month. Treat any headline yield on BITO as a description of past bitcoin performance, not as income you can plan around.
Is the BITO dividend free money?
No. A distribution moves value from the fund to your account: on the ex-dividend date, BITO's share price drops by roughly the amount paid. Your total return is price change plus distributions, and that total still has to cover the 0.95% management fee and the cost of rolling futures when they trade above spot (contango). The spot vs futures crypto ETFs guide explains why that roll cost has historically left futures funds behind spot funds like IBIT, which pay no dividend at all.
Taxes matter too. In a taxable account the distributions are taxable in the year you receive them, and how each one is classified is reported on your Form 1099-DIV. A spot ETF that pays nothing defers tax until you sell. The crypto ETF tax guide covers the differences; check the specifics with a tax professional.
What it means for investors
Read BITO's yield as a lagging bitcoin indicator, not as income. The live roll cost shows on Pre-Tick's futures roll cost page: when the basis is wide, a long futures fund pays more each month to stay invested, and that cost comes before any distribution.
The price you trade at is a separate question, and Pre-Tick measures it. Across 60 sessions from July 24 to October 16, our pre-market estimate for BITO landed a median 0.089% from the official 9:30 AM open, against 1.013% for simply using the prior close, and within ±0.5% in 98% of sessions (accuracy). On ex-dividend mornings, account for the distribution as well as bitcoin's overnight move. This is market analysis, not investment advice.
Frequently Asked Questions
How often does BITO pay dividends?
Monthly. ProShares says the amount can change significantly from month to month and that some months may have no distribution. BITO paid about $2.47 a share over the past 12 months, but its October payout was $0.0174.
Where does BITO's dividend come from?
From the taxable gains on its CME bitcoin futures. As a registered fund, BITO distributes that income to shareholders instead of paying tax on it, so payouts rise after strong bitcoin stretches and shrink when bitcoin falls.
Is BITO better than a spot bitcoin ETF for income?
Not necessarily. BITO's distributions come out of the fund's value and are taxable when paid, and it charges 0.95% plus roll costs. Spot ETFs like IBIT pay no dividend but hold bitcoin directly at lower fees.
Sources
- ProShares: BITO fund page
- ProShares: BITO fact sheet
- ProShares Trust: BITO prospectus
- CNBC: BITO quote and dividend
- CoinDesk: ProShares' bitcoin futures ETF underperforms BTC this year (K33 Research) — 2023-05-30
- Pre-Tick: pre-market estimate accuracy — 2026-10-16
Educational and informational only. Pre-Tick does not provide investment advice.
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