BITO Stock, ProShares Bitcoin Strategy ETF Information

ProShares Bitcoin Strategy ETF (the Fund) seeks capital appreciation. Bitcoin is a digital asset, sometimes referred to as a digital currency or cryptocurrency. The ownership and operation of bitcoin is determined by participants in an online, peer-to-peer 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 Funds Prospectus). The value of bitcoin is not backed by any government, corporation, or other identified body. Instead, its value is determined in part by the supply and demand in markets created to facilitate trading of bitcoin. Ownership and transaction records for bitcoin are protected through public-key cryptography. The supply of bitcoin is determined by the Bitcoin Protocol.