The ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE) is an exchange-traded fund designed to provide balanced exposure to the Bitcoin and Ether markets through futures contracts. The ETF is managed by ProShares and trades under the ticker BETE on the Cboe BZX Exchange.

Classified as an actively managed ETF, the fund invests primarily in Bitcoin and Ether futures contracts traded on regulated U.S. exchanges. Its strategy seeks to maintain approximately equal allocations to the two largest digital assets by market capitalization, providing diversified exposure to the cryptocurrency market without directly holding the underlying assets.

Unlike spot Bitcoin or Ether ETFs, BETE gains exposure through futures contracts. As a result, its performance may differ from the spot prices of Bitcoin and Ether due to factors such as futures roll costs and conditions in the futures market.

Diversification and sector exposure

BETE provides exposure primarily associated with:

• Bitcoin futures contracts.

• Ether futures contracts.

• Cryptocurrencies.

• Digital assets.

• Blockchain technology.

• Active management.

• Regulated futures markets.

• Equal-weight allocation.

The portfolio seeks to maintain balanced exposure to both Bitcoin and Ether, with periodic rebalancing to preserve its equal-weight investment approach.

The ETF's performance generally reflects developments in the Bitcoin and Ether futures markets and is influenced by both cryptocurrency price movements and futures market dynamics.

Structure and costs

BETE shares trade on the secondary market on the Cboe BZX Exchange during regular trading hours. Share creation and redemption occur through authorized participants, helping keep the ETF's market price aligned with its net asset value (NAV).

The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. Because the ETF invests in futures contracts, it does not receive staking rewards and does not hold Bitcoin or Ether directly in digital wallets.

History and evolution of the ETF

The ProShares Bitcoin & Ether Equal Weight Strategy ETF was launched in 2023 to provide investors with diversified exposure to the two largest digital assets through regulated futures contracts.

Since inception, the fund has sought to maintain approximately equal allocations to Bitcoin and Ether, periodically rebalancing its portfolio to preserve its equal-weight strategy.

Over time, the ETF's performance has reflected developments in the cryptocurrency market as well as factors specific to futures investing, including roll costs, liquidity conditions, and changes in the regulatory environment.

Additional Information

Proshares Bitcoin & Ether Equal Weight Strategy ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $7.21 million.

Over the past 12 months, Proshares Bitcoin & Ether Equal Weight Strategy ETF recorded a return of -42.32%, with its price trading between $26.72 and $94.27 during the same period.

The ETF is traded under the ticker BETE.