Investing involves risk, including the possible loss of principal. There is no guarantee any ProShares ETF will achieve its investment objective.
This ETF invests in bitcoin futures contracts and does not invest directly in bitcoin. Bitcoin and bitcoin futures are a relatively new asset class, and the market for bitcoin is subject to rapid changes and uncertainty. Bitcoin and bitcoin futures 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 bitcoin futures contracts. Bitcoin is largely unregulated and may be more susceptible to fraud and manipulation than more regulated investments. The value of an investment in the ETF could decline significantly and without warning, including to zero.
This ETF 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 the Fund from achieving its objective. The price and performance of bitcoin futures should be expected to differ from the current ‘‘spot’’ prices of bitcoin (the prices of bitcoin that can be purchased immediately). These differences could be significant.
This ETF is non-diversified and is 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.
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.
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Crypto-Linked
