ProShares offers a diverse line-up of bitcoin-linked ETFs, including leveraged and inverse funds, to help investors pursue their investment goals.
These funds do not invest directly in bitcoin. There is no guarantee the funds will achieve their daily performance targets.
Ultra Bitcoin ETF
Seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Bitcoin Index.
Bitcoin ETF
Seeks investment results, before fees and expenses, that correspond to the performance of bitcoin.
Short Bitcoin ETF
Seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Bloomberg Bitcoin Index.
UltraShort Bitcoin ETF
Seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the Bloomberg Bitcoin Index.
Leveraged bitcoin ETFs enable investors to magnify the impact of their investment. This means putting less money at risk for a desired level of exposure. For example, a $10 investment in a 2x leveraged ETF achieves $20 of exposure to the benchmark’s upside, but with no risk of loss beyond the initial $10 investment. Investors seeking similar leverage outside of an ETF structure might resort to borrowing on margin from their brokerage account, which often incurs higher fees.
Inverse bitcoin ETFs are designed to move in the opposite direction of a benchmark. They can be used as part of a broader strategy to hedge against the risk of a market downturn, or to seek profit by expressing a view that a slice of the market will decline. In contrast to short-selling, which introduces the risk of uncapped downside, an investor who utilizes an inverse ETF can establish a “short” position that limits losses to the initial investment. In that respect, the risk of loss associated with an inverse ETF is no different than any other ETF or mutual fund.
These ETFs are registered under the Investment Company Act which provides numerous investor protections.*
Yes, options trading is available for BITU, BITO, BITI and SBIT.
BITO aims to produce returns that correspond to bitcoins.
BITO invests in bitcoin futures and does not invest in bitcoin. There is no guarantee the fund will closely track bitcoin returns.
ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to enhance returns and manage risk.
* Registration under the Investment Company Act of 1940 does not protect against fund losses.
Investing involves risk, including the possible loss of principal. There is no guarantee any ProShares ETF will achieve its investment objective.
These ETFs invest in derivatives (swap agreements, futures contracts and similar instruments) that provide indirect exposure to bitcoin and/or ether and do not invest directly in bitcoin or ether. Bitcoin and ether are each a relatively new asset class, and the market for bitcoin and ether is subject to rapid changes and uncertainty. Bitcoin and ether are subject to unique and substantial risks, such as rapid price swings and lack of liquidity, including as a result of changes in the supply of and demand for bitcoin and ether. Bitcoin and ether are largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. The value of an investment in these Funds could decline significantly and without warning, including to zero.
BITO is actively managed. The costs associated with rolling (buying and selling) futures and the impact of margin requirements, collateral requirements and other limits may have a negative impact on performance and prevent each Fund from achieving its objective. The price and performance of bitcoin futures and ether futures should be expected to differ from the current ‘‘spot’’ prices of bitcoin and ether (the prices of bitcoin and ether that can be purchased immediately). These differences could be significant.
These ETFs are non-diversified and are subject to risks associated with the use of futures contracts, leverage, and market price variance, all of which can increase volatility and decrease performance. Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Your brokerage commissions will reduce returns.
Some ProShares ETFs seek daily investment results that correspond, before fees and expenses, to a multiple of (e.g. 2x or -2x) the daily performance of its underlying benchmark (the “Daily Target”). While the Funds have a daily investment objective, you may hold a Fund’s shares for longer than one day if you believe it is consistent with your goals and risk tolerance. For any holding period other than a day, your return may be higher or lower than the Daily Target. These differences may be significant. Smaller index gains/losses and higher index volatility contribute to returns worse than the Daily Target. Larger index gains/losses and lower index volatility contribute to returns better than the Daily Target. The more extreme these factors are, the more they occur together, and the longer your holding period while these factors apply, the more your return will tend to deviate. Investors should consider periodically monitoring their geared fund investments in light of their goals and risk tolerance.
Carefully consider the investment objectives, risks, charges, and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing. Obtain them from your financial professional or visit ProShares.com.
ProShares are distributed by SEI Investments Distribution Co. ("SIDCO"), which is not affiliated with the funds' advisor or sponsor. SIDCO is located at 1 Freedom Valley Drive, Oaks, PA 19456.
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ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.
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