# BITI (ProShares Short Bitcoin ETF)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: BITI returned −29.6% where its own daily promise gave −30.9%, 1.2 points over.

## Key facts

- BITI, what IBIT did: +39.2%, as of Sep 30, 2026.
- BITI, what −1 times a day gives: −30.9%, as of Sep 30, 2026.
- BITI, what the fund returned: −29.6%, as of Sep 30, 2026.
- BITI, the fund itself added: +1.2 pts, as of Sep 30, 2026.
- BITI, net assets: $81m (issuer page, as of Sep 30, 2026).
- BITI, expense ratio: 1.02% (485BPOS XBRL, Sep 25, 2026).

## BITI over each window to Sep 30, 2026

| Window | Fund | IBIT | -1x the move | Difference | IBIT moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −6.4% | +6.0% | −6.0% | −0.5 pts | 43% |
| 3 months | −29.6% | +39.2% | −39.2% | +9.6 pts | 38% |
| 6 months | −21.5% | +22.5% | −22.5% | +1.0 pts | 38% |
| 1 year | +19.6% | −27.2% | +27.2% | −7.6 pts | 46% |
| Since launch | −61.8% | +77.8% | −77.8% | +16.0 pts | 49% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of IBIT, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -0.76 times, against -1 stated | ETFIQ |
| Underlying | IBIT | ETFIQ |
| Segment | asset class, crypto | ETFIQ |
| Net assets | $81m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.02% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jun 21, 2022 | ETFIQ |
| Underlying volatility over the window | 38% annualized | ETFIQ |

## Questions

### Did BITI return -1 times IBIT?

Over the window to Sep 30, 2026, IBIT moved +39.2% and BITI returned −29.6%. −1 times that move is −39.2%, so the fund came out 9.6 points ahead of it.

### Why does BITI not return -1 times over a year?

Because it resets daily. BITI aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, BITI, data as of Sep 30, 2026. https://etfiq.com/funds/biti
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/biti  ·  JSON: https://etfiq.com/funds/biti.json