ProShares today announced that its mutual fund affiliate, ProFunds, has launched the Ether ProFund (ETHFX). ETHFX is the first U.S. mutual fund to target the performance of ether, the world’s second-largest cryptocurrency and the native currency of the Ethereum platform. This launch follows the success of the Bitcoin ProFund (BTCFX), the first and only U.S. mutual fund targeting the performance of bitcoin, which has grown to nearly $500 million in assets.¹

ETHFX provides a convenient option for investors who prefer mutual funds, may be restricted from buying ETFs, or wish to avoid direct ownership of ether through a cryptocurrency exchange or digital wallet. Investors can buy and sell shares of ETHFX in a brokerage account or directly from ProFunds.

"We’ve seen strong demand from investors looking to target cryptocurrency returns through a mutual fund, as proven by the success of our Bitcoin ProFund,” said Michael L. Sapir, CEO of ProShares and ProFunds. “Now, with the launch of our Ether ProFund, investors wanting to target the performance of ether in a mutual fund will not need to wait.”

The introduction of ETHFX expands ProFunds’ lineup of crypto-linked mutual funds, which in addition to BTCFX, includes the Short Bitcoin ProFund (BITIX). ProFunds’ affiliate company, ProShares, also offers the largest lineup of crypto-linked ETFs in the U.S. by number of listings.

ETHFX invests in ether futures and does not invest directly in ether.

About ProShares

ProShares has been at the forefront of the ETF revolution since 2006. ProShares manages over $80 billion in assets and offers one of the largest lineups of ETFs. The company is a leader in strategies such as crypto-linked, dividend growth, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.

About ProFunds

Founded in 1997, ProFunds has over 25 years of experience managing a diverse lineup of some of the most innovative funds in the financial industry and offers trading flexibility to all shareholders. In addition to classic, broad-market index funds, ProFunds offers leveraged and inverse funds that track a variety of assets, including broad-market and sector-based domestic and international equity, fixed income, crypto, commodity, currency, CDs and other benchmarks. Together with ProShares, which launched the first U.S. leveraged and inverse exchange traded funds (ETFs) in 2006, ProFunds and its affiliates manage approximately $85 billion in assets for investors worldwide.

¹ Assets in the Bitcoin ProFund were $493 million as of Jan 31, 2025

[Disclosures]

Ether and ether futures are a relatively new asset class and the market for ether is subject to rapid changes and uncertainty. Ether and ether futures are subject to unique and substantial risks, including significant price volatility and lack of liquidity. The value of an investment in the Fund could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment.

This Fund is actively managed. The Fund invests in ether futures contracts and does not invest directly in or hold ether. The price of ether futures should be expected to differ from the current or “spot” price of ether. Consequently, the performance of the Fund should be expected to differ from the performance of the spot price of ether. The market for ether futures may be less developed, and potentially less liquid and more volatile, than more established futures markets. Ether futures are subject to margin requirements, collateral requirements and daily limits that may prevent the Fund from achieving its objective.

If the Fund’s ability to obtain exposure to ether-related investments consistent with its investment objective is disrupted for any reason, including as a result of a lack of liquidity, volatility or a disruption to the ether futures market, or as a result of margin requirements or position limits applicable to the Fund, the Fund may not be able to achieve its investment objective and may experience significant losses.

Investing involves risk, including the possible loss of principal. ProFunds entail certain risks, including risk associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, leverage and market price variance, all of which can increase volatility and decrease performance. For more on correlation, leverage and other risks, please read the prospectus. There is no guarantee any ProFund will achieve its investment objective.

Carefully consider the investment objectives, risks, charges and expenses of ProFunds before investing. This and other information can be found in their summary and full prospectuses which may be obtained at ProFunds.com. Read them carefully before investing.

ProFunds are distributed by ProFunds Distributors Inc.

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