Understanding the ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH)

What this ETF is trying to do

The ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (ticker: BETH) is an exchange-traded fund that focuses on the cryptocurrency market. It is designed to follow a strategy involving Bitcoin and Ether. Because it involves these digital assets, it is classified as a crypto-related ETF.

What the numbers show

The data shows significant changes in the fund's value over different time periods. As of October 7, 2026, the current price is $45.89.

When looking at how the share price has moved:

• Year-to-Date (YTD) Price Return: The share price has declined by approximately 10.12%.

• One-Year Price Return: The share price has declined by approximately 45.36%.

• Three-Year Price Return: The share price has increased by approximately 12.56%.

It is important to distinguish between price return (just the change in share price) and total return (which includes distributions).

• The one-year total return was approximately -36.18%.

• The year-to-date total return was approximately -9.29%.

• Over three years, the total return was approximately 115.14%.

An estimated price from roughly one year ago was $83.98.

Income and distribution explanation

BETH has a high distribution yield of approximately 19.21%. The fund typically pays distributions on a monthly basis, with 12 payments recorded over the last year. Most of these payments have occurred on Mondays.

While a high yield provides cash income, it is important to remember that a high distribution yield does not guarantee the investment will grow. In this case, the share price has declined significantly over the last year even while providing these distributions.

NAV erosion explanation

This ETF has a severe erosion-risk flag. The data shows an erosion score of 10, which is labeled as "Severe price erosion." This means the fund has experienced substantial price deterioration.

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion. While we can see the market price has dropped significantly, we cannot use this alone to prove that the Net Asset Value (NAV) itself has collapsed.

Pros

• The fund offers a high distribution yield of approximately 19.21%.

• It provides frequent (usually monthly) cash distributions.

• The three-year total return has been positive at approximately 115.14%.

Cons

• The fund shows severe price erosion risk.

• There has been a significant share-price decline over the last year (approximately -45.36%).

• The income rating grade is an "F."

Beginner takeaway

BETH is a crypto-related ETF that pays high monthly distributions. However, investors should be aware that high yields can exist even when the share price is falling. The fund currently shows a severe erosion-risk flag due to significant price declines over the past year. Always remember that high distributions do not guarantee your original investment will stay stable.