The ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) is an exchange-traded fund designed to provide exposure to Bitcoin and Ether through futures contracts using a market capitalization-weighted allocation. The ETF is managed by ProShares and trades under the ticker BETH on the NYSE Arca.

Classified as an actively managed cryptocurrency ETF, the fund invests in Bitcoin and Ether futures contracts traded on regulated exchanges. Its strategy seeks to reflect the relative market capitalizations of the two largest cryptocurrencies by periodically adjusting the allocation between them.

The ETF follows an active management approach and primarily uses futures contracts traded on the Chicago Mercantile Exchange (CME) to gain exposure to both digital assets without directly holding Bitcoin or Ether.

Diversification and sector exposure

BETH provides exposure primarily associated with:

• Bitcoin.

• Ether.

• Cryptocurrency futures.

• Digital assets.

• Blockchain.

• Decentralized finance (DeFi).

• Derivatives market.

• Active management.

The portfolio is concentrated in financial instruments linked to the two largest cryptocurrencies, providing diversified exposure within this segment of the digital asset market.

The ETF's performance reflects the behavior of Bitcoin and Ether futures markets and may differ from spot prices because of futures roll costs and the pricing dynamics of futures contracts.

Structure and costs

BETH shares trade on the secondary market on the NYSE Arca during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF's market price with its net asset value (NAV).

The fund uses regulated futures contracts and may hold U.S. Treasury securities and cash equivalents to meet collateral and liquidity requirements. The ETF charges a management fee as outlined in its prospectus and does not apply a performance fee.

History and evolution of the ETF

The ProShares Bitcoin & Ether Market Cap Weight Strategy ETF was launched in 2023 to provide investors with combined exposure to Bitcoin and Ether through regulated futures contracts.

Since inception, the fund has become part of ProShares' digital asset ETF lineup, offering a strategy that automatically adjusts its allocation between the two largest cryptocurrencies based on their relative market capitalizations.

In recent years, growing institutional adoption of digital assets, the continued expansion of the Ethereum ecosystem, the development of cryptocurrency ETFs, and the evolving regulatory landscape have continued to shape the performance of products in this category.

Additional Information

ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $10.11 million.

Over the past 12 months, ProShares Bitcoin & Ether Market Cap Weight Strategy ETF recorded a return of -43.82%, with its price trading between $32.24 and $92.84 during the same period.

The ETF is traded under the ticker BETH.