ProShares Sets $0.070969 November Distribution for Short Bitcoin ETF

ProShares set a November distribution of $0.070969 per share for its Short Bitcoin ETF (BITI), with payment scheduled for Friday, Nov. 6, after Nov. 2 served as both the ex-distribution and record date.

The record date determined which shareholders qualified for the distribution. ProShares lists scheduled payment dates as estimates that may change.

BITI seeks daily results that are the inverse (-1x) of the Bloomberg Bitcoin Index’s performance before fees and expenses. That objective applies to a single day; returns over longer periods can diverge from the inverse of the index’s cumulative performance. The fund uses futures and swaps for exposure and does not directly short Bitcoin (BTC).

ProShares’ crypto funds follow a monthly distribution schedule, but a payment may be skipped and amounts may change significantly from month to month. A separate November payment of $0.011879 per share was scheduled for ProShares’ Ultra Bitcoin ETF.