![]() The price and performance of bitcoin futures should be expected to differ from the current “spot” price of bitcoin. The ETF does not invest directly in or hold bitcoin. This ETF invests in bitcoin futures contracts. You should be prepared to lose your entire investment. ![]() The value of an investment in the ETF could decline significantly and without warning, including to zero. ![]() Bitcoin and bitcoin futures are subject to unique and substantial risks, including significant price volatility and lack of liquidity. Bitcoin and bitcoin futures are a relatively new asset class and the market for bitcoin is subject to rapid changes and uncertainty. Investing involves risk, including the possible loss of principal. This ETF may not be not be suitable for all investors. ProShares may invest in financial instruments (including derivatives) that, in combination, should have daily price return characteristics similar to the fund's benchmark.
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