| Investment Objective: |
ProShares Short Bitcoin ETF seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the Bloomberg Bitcoin Index (the "Index"). In this manner, the Fund seeks daily returns that correspond to the inverse (-1x) of the price of bitcoin. The Fund does not directly short bitcoin. Bitcoin is a digital asset. The ownership and operation of bitcoin is determined by participants in an online, peer-topeer network sometimes referred to as the "Bitcoin Network". The Bitcoin Network connects computers that run publicly accessible, or "open source," software that follows the rules and procedures governing the Bitcoin Network. This is commonly referred to as the Bitcoin Protocol (and is described in more detail in the section entitled "The Bitcoin Protocol" in the Fund's Prospectus). Bitcoin may be used to pay for goods and services, stored for future use, or converted to a government-issued currency. |
