Key stats
About ProShares Trust ProShares UltraShort Bitcoin ETF
Home page
Inception date
Apr 2, 2024
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
ProShare Advisors LLC
Distributor
SEI Investments Distribution Co.
SBIT is a bearish one-day bet against Bitcoin, seeking to provide double the inverse daily returns of its underlying Bitcoin index. The index, maintained by Bloomberg Index Services Limited, is designed as a proxy for the Bitcoin market. The index price is a composite of US Dollar-Bitcoin trading activities reported by digital asset platforms. The fund does not directly short Bitcoin. The fund primarily invests in swap agreements to obtain inverse exposure to the index. If the fund is unable to gain its desired exposure to Bitcoin, it may also invest in other instruments, such as cash-settled CME Bitcoin futures. The fund also holds money market instruments for necessary collateral. It gains exposure by utilizing a wholly owned Cayman Islands subsidiary. The returns of the fund can vary significantly from -2x exposure if held for longer than a day. As an inverse product with daily resets, the fund is designed as a short-term trading tool and not a long-term investment vehicle.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
Dividends
Dividend payout history