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ProShares UltraShort Bitcoin ETFProShares UltraShort Bitcoin ETFProShares UltraShort Bitcoin ETF

ProShares UltraShort Bitcoin ETF

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Overview
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SBIT chart



Key stats


Assets under management (AUM)
‪68.06 M‬ USD
Fund flows (1Y)
—
Dividend yield (indicated)
0.42%
Discount/Premium to NAV
—
Shares outstanding
‪2.20 M‬
Expense ratio
0.95%

About ProShares UltraShort Bitcoin ETF


Issuer
ProShare Advisors LLC
Brand
ProShares
Home page
proshares.com
Inception date
Apr 2, 2024
Structure
Open-Ended Fund
Index tracked
Bloomberg Bitcoin Index - Benchmark TR Gross
Replication method
Synthetic
Management style
Passive
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.
ISIN
US74349Y5630
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.

Broaden your horizons with more funds linked to SBIT via country, focus, and more.

Classification


Asset Class
Currency
Category
Pair
Focus
Long USD, short Bitcoin
Niche
Derivative
Strategy
Vanilla
Geography
Global
Weighting scheme
Single asset
Selection criteria
Single asset

SBIT news



Ideas



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Seasonals


Displays a symbol's price movements over previous years to identify recurring trends.

Frequently Asked Questions


An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
SBIT assets under management is ‪68.06 M‬ USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
SBIT expense ratio is 0.95%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
Yes, SBIT is a leveraged ETF, meaning it uses borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, SBIT pays dividends to its holders with the dividend yield of 0.42%.
SBIT shares are issued by ProShare Advisors LLC
SBIT follows the Bloomberg Bitcoin Index - Benchmark TR Gross. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Apr 2, 2024.
The fund's management style is passive, meaning it's aiming to replicate the performance of the underlying index by holding assets in the same proportions as the index. The goal is to match the index's returns.