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BITU

Ultra Bitcoin ETF

Investment Objective

Seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Bitcoin Index.

How to buy
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Important Considerations

This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to 2X the daily performance of its underlying benchmark (the “Daily Target”).

While the Fund has a daily investment objective, you may hold Fund 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.

This fund does not directly invest in bitcoin. There is no guarantee the fund will achieve its daily performance targets.

*Will also magnify losses when the daily price of bitcoin falls 

Why Invest in BITU?

  • Provides an opportunity to magnify gains when the daily price of bitcoin rises*

  • Targets 2x exposure for less cash

  • Avoids significant costs and fees typically required to leverage bitcoin

  • BITU can be bought through a traditional brokerage account

Documents & Downloads
Fund Fact Sheet
This links to a pdf file This link opens a new window
Summary Prospectus
This links to a pdf file This link opens a new window
Statutory Prospectus
This links to a pdf file This link opens a new window
Statement of Add'l Information
This links to a pdf file This link opens a new window
NAV History
This links to a pdf file This link opens a new window

You may order paper copies by contacting ProShares Client Services at 866-PRO-5125 (866-776-5125)

About the Fund

Snapshot
  • Ticker
    BITU
  • Intraday Ticker
    BITU.IV
  • CUSIP
    74349Y704
  • Inception Date
    4/2/24
  • Expense Ratio
    0.95%
  • NAV Calculation Time
    4:00 p.m. ET
Price
as of 4/26/2024
  • NAV
    $32.32
  • NAV Change
    $-0.98 down caret
  • Market Price
    $32.37
  • Market Price Change
    $-0.94 down caret
  • Trading Volume (M)
    357,399
  • 30-Day Median Bid Ask Spread
    0.18%
  • View Premium / Discount
Snapshot
  • Ticker
    BITU
  • Intraday Ticker
    BITU.IV
  • CUSIP
    74349Y704
  • Inception Date
    4/2/24
  • Unitary Expense Ratio
    0.95%
  • NAV Calculation Time
    4:00 p.m. ET
Price
as of 4/26/2024
  • NAV
    $32.32
  • NAV Change
    $-0.98 down caret
  • Market Price
    $32.37
  • Market Price Change
    $-0.94 down caret
  • Trading Volume (M)
    357,399
  • 30-Day Median Bid Ask Spread
    0.18%
  • View Premium / Discount

Holdings

as of 4/26/2024

Exposure Weight Ticker Description Exposure Value
(Notional + GL)		 Market Value Shares/Contracts SEDOL Number
140.58% -- BITCOIN TRUST (IBIT) SWAP NOMURA 170,392,629 -- 4,691,427 --
41.89% -- BITCOIN TRUST (IBIT) SWAP GOLDMAN 50,770,747 -- 1,397,873 --
17.93% -- CME BITCOIN FUT NON-EQUITY INDEX 28/JUN/2024 BTCM4 CURNCY 21,734,800 -- 67 --
-- -- TREASURY BILL -- $29,956,041.60 30,000,000 BRJQBG0
-- -- NET OTHER ASSETS (LIABILITIES) -- $91,248,806.00 91,248,806 --
Download Holdings (.csv)This links to a pdf fileThis link opens a new window

Index

About the Index

The Bloomberg Bitcoin Index (BITCOIN Index) is designed to measure the performance of a single bitcoin traded in USD. The index is owned and administered by Bloomberg Index Services Limited.

Distributions

Crypto-Linked Insights and Research

View All News

Bitcoin’s Next Halving 2024: Market Impact and What to Expect

As the anticipated bitcoin halving in April 2024 draws near, investors are keenly observing the potential for significant market movement. The halving is expected to slash mining rewards from 6.25 to 3.125 bitcoins, marking a critical juncture that historically has been associated with notable price fluctuations and increased investor interest. Here is everything you need to know as we approach this key milestone.
Read More
Get the latest perspectives and updates.

View the prospectus for BITU.

Investing involves risk, including the possible loss of principal. There is no guarantee that ProShares Ultra Bitcoin ETF (BITU) will achieve its investment objective.

This ProShares ETF seeks daily investment results that correspond, before fees and expenses, to 2x the daily performance of its underlying benchmark- the Bloomberg Bitcoin Index (the “Daily Target”). While the Fund has a daily investment objective, you may hold Fund 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 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.

This ETF invests in derivatives (swap agreements, futures contracts and similar instruments) that provide indirect exposure to bitcoin and does not invest directly in bitcoin. Investors seeking exposure to bitcoin directly should consider an investment other than this ETF. Bitcoin is a relatively new asset class and the market for bitcoin is subject to rapid changes and uncertainty. Bitcoin is 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, statements by influencers and the media, and other factors. Bitcoin is largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. Leveraged exposure to bitcoin will increase volatility. The value of an investment in the ETF could decline significantly and without warning, including to zero. This ETF may not be suitable for all investors.

This ProShares ETF is non-diversified and entails certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), counterparty risk, imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. This ETF is new and may have a limited number of market makers. There can be no assurance the fund will be successful or that an active market for its shares will develop. 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.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in the ETF’s summary and full prospectuses. Read them carefully before investing. Obtain them from your financial professional or visit ProShares.com.

BLOOMBERG® is a trademark and service mark of Bloomberg Finance LP and its affiliates (collectively "Bloomberg'). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

©2024

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